Overseas Shipholding Group (OSG) has reported a net loss of $1.9 million on revenues of $78.6 million for Celebrity Cruises for the third quarter ended Sept. 30, 1994.

OSG, which owns 49 percent of Celebrity, attributed the loss to the 11-day withdrawal of the Horizon from service following the outbreak of Legionnaire's disease among passengers who had cruised aboard the ship. The third quarter is normally the cruise line's most profitable quarter.

Last year, Celebrity posted net income of $6.5 million on revenues of $85 million for the third quarter.

For the nine month period ended Sept. 30. 1994, Celebrity posted net income of $5.3 million on revenues of $243 million compared to net income of $11.4 million on revenues of $239 million for the same period in 1993.

In related news, Celebrity has introduced an early booking program called "Five Star Rates" offering discounts up to 50 percent off tariff for early bookings.

Celebrity becomes the last major cruise line to launch such a program. Its executives have previously dismissed such efforts by other tines as unrealistic and that passengers would wait and book closer to sailing dates anyway.

OSG

OSG reported a net loss for its overall operations of $2.3 million, or $0.6 per share, on revenues of $88.6 million for the third quarter ended Sept. 30, 1994, compared to net income of $4.5 million, or $0.14 per share, on revenues of $98.4 million for the same quarter a year ago.

OSG which also operates a fleet of nearly 60 tankers and bulk carriers said the results reflected continuing weakness during the third quarter in the international tanker markets as well as decreased demand for OSG's U.S. flag tankers.

For the nine month period, OSG reported a net loss of $1.9 million, or $0.05 per share, on revenues of $270.9 million compared to net income of $14.9 million, or $0.46 per share, on revenues of $295.2 million for the same period in 1993.