<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
Exhibit 27 contains summary information extracted from OMI Corporation and
subsidiaries Consolidated financial statements and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S  DOLLARS

       
<S>                                                  <C>
<PERIOD-TYPE>                                        12-MOS
<FISCAL-YEAR-END>                                                   DEC-31-1998
<PERIOD-END>                                                        DEC-31-1998
<EXCHANGE-RATE>                                                               1
<CASH>                                                                   22,689
<SECURITIES>                                                                  0
<RECEIVABLES>                                                            15,575
<ALLOWANCES>                                                                  0
<INVENTORY>                                                                   0
<CURRENT-ASSETS>                                                         47,095
<PP&E>                                                                  579,180
<DEPRECIATION>                                                          150,585
<TOTAL-ASSETS>                                                          530,127
<CURRENT-LIABILITIES>                                                    45,181
<BONDS>                                                                 225,653
<PREFERRED-MANDATORY>                                                         0
<PREFERRED>                                                                   0
<COMMON>                                                                 21,838
<OTHER-SE>                                                              223,345
<TOTAL-LIABILITY-AND-EQUITY>                                            530,127
<SALES>                                                                       0
<TOTAL-REVENUES>                                                        149,228
<CGS>                                                                         0
<TOTAL-COSTS>                                                           107,897
<OTHER-EXPENSES>                                                         35,087
<LOSS-PROVISION>                                                              0
<INTEREST-EXPENSE>                                                       11,118
<INCOME-PRETAX>                                                           5,759
<INCOME-TAX>                                                            (37,158)
<INCOME-CONTINUING>                                                           0
<DISCONTINUED>                                                                0
<EXTRAORDINARY>                                                               0
<CHANGES>                                                                     0
<NET-INCOME>                                                             42,917
<EPS-PRIMARY>                                                              1.01
<EPS-DILUTED>                                                              1.00
        


</TABLE>