Monthly Operating Report

As previously reported by International Shipholding Corporation
(the Company), on July 31, 2016, the Company and certain of its
direct and indirect subsidiaries filed voluntary petitions for
relief under Chapter 11 of Title 11 of the U.S. Code in the
United States Bankruptcy Court for the Southern District of New
York (the Bankruptcy Court). On February 15, 2017, the Company
filed a Monthly Operating Report for the month of January 2017
with the Bankruptcy Court. The Monthly Operating Report is
furnished as Exhibit 99.1 to this Current Report on Form 8-K and
incorporated into this Item 7.01 by reference.

Cautionary Statement Regarding the Monthly Operating Report

The Company cautions investors and potential investors not to
place undue reliance on the information contained in the Monthly
Operating Report, which was not prepared for the purpose of
providing the basis for an investment decision relating to any of
the securities of the Company. The Monthly Operating Report is
limited in scope, covers a limited time period, and has been
prepared solely for the purpose of complying with the monthly
reporting requirements of the Bankruptcy Court. The Monthly
Operating Report was not audited or reviewed by an independent
registered public accounting firm and was not prepared in
accordance with generally accepted accounting principles in the
United States. The Monthly Operating Report is in a format
prescribed by applicable bankruptcy laws and remains subject to
future adjustment and reconciliation. Therefore, the Monthly
Operating Report does not necessarily contain all information
required in filings to the Securities Exchange Act of 1934, as
amended (the Exchange Act), or may present such information
differently from the presentation of information in Exchange Act
reports. There can be no assurance that, from the perspective of
an investor or potential investor in the Companys securities, the
Monthly Operating Report is complete. The Monthly Operating
Report also contains information for periods which are shorter or
otherwise different from those required in Exchange Act reports,
and such information might not be indicative of the Companys
financial condition or operating results for the period that
would be reflected in the Companys financial statements or in its
Exchange Act reports. Results set forth in the Monthly Operating
Report should not be viewed as indicative of future results.

Exchange Act Reports

The Company has suspended the filing of its regular periodic
reports on Form 10-K and Form 10-Q with the SEC. The Company,
however, intends to furnish copies of the Monthly Operating
Reports that are required to be submitted to the Bankruptcy Court
under cover of Current Reports on Form 8-K and to continue to
file Forms 8-K disclosing material developments concerning the
Company.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits.