Debt-laden Overseas Shipholding Group Inc., the world's No. 2 independent tanker operator by fleet size, filed for chapter 11 protection, Reuters reported today. The company, which has been struggling to plug a $300 million shortfall in its $1.5 billion fully drawn revolving credit facility, warned last month that it may have to seek bankruptcy protection. It had also said at that time that it may have to re-state results for at least three years due to a tax issue.
