reported a three quarter of a million dollar net loss for the quarter ended September 30.

OSG said their $746,000 loss (two cents a share), compared with a net loss of $2,313,000 (six cents a share) in the third quarter of last year.

The net loss for the first nine months is now at $10,036,000 (28 cents a share), when compared with last year's first nine month net loss of $1,896,000.

The company blamed third quarter losses on a continued weakness in the US flag tanker markets.

Six US flag crude carriers that normally operate in the Alaskan trade were unemployed for nearly the entire quarter. Four of the vessels are now chartered.

The shipping company believes their prospects in the longer term would improve significantly, if pending legislation allowing exports of Alaskan North Slope crude oil on US flag ships is signed into law.

The legislation has passed the House of Representatives and is awaiting final Senate action, and could permit exports as early as the first half of 1996.

Meanwhile, Celebrity Cruise Lines Inc. has continued, the company said, to experience strong competitive pressures in the North American cruise market during the third quarter, which have persisted into the fourth quarter.