The Overseas Shipholding Group (OSG) has reported a net loss of $3 .3 million or $0.09 per share on revenues of $1 07 million for the first quarter ended March 31, 1995, compared to net income of $5 million or $0.15 per share on revenues of $100.5 million (including gains on sales of vessels) for the first quarter of 1994.

OSG attributed the first-quarter results of this year to weakness in the international tanker markets as well as continued decreasing demand for the company's U.S. flag tankers. In addition, the results of Celebrity Cruises, in which OSG holds a 49 percent interest, reflected softness in the North American cruise market, according to OSG.