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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5 )* REVISED
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INTERNATIONAL SHIPHOLDING CORPORATION
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
460321201
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(CUSIP Number)
Check the following box if a fee is being paid with the statement .
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item 1: and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d- 7).
*The remainder of this cover page shall be filled out for reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act
of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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CUSIP No. 460321201 13G Page 2 of 4 Pages
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Niels W. Johnsen
S.S. ####-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a)
(b)
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
5 SOLE VOTING POWER
319,654
NUMBER OF
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 319,654
PERSON
WITH 8 SHARED DISPOSITIVE POWER
0
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
319,654
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.92 %
12 TYPE OF REPORTING PERSON *
IN
* SEE INSTRUCTION BEFORE FILLING OUT!
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ITEM 1(a) NAME OF ISSUER:
INTERNATIONAL SHIPHOLDING CORPORATION
1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
650 Poydras Street
New Orleans, Louisiana 70130
ITEM 2(a) NAME OF PERSON FILING:
Niels W. Johnsen
2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
One Whitehall Street
New York, NY 10004
2(c) CITIZENSHIP:
United States
2(d) TITLE OF CLASS OF SECURITIES:
Common
2(e) CUSIP NUMBER:
460321201
ITEM 3 If this statement is filed pursuant to Rules 13d-1(b) or
13(d)-2(b), check whether the person is a:
Not Applicable
ITEM 4 OWNERSHIP
If the percent of the class owned, as of December 31, of the
year covered by the statement, or as of the last day of
any month described in Rule 13d-1(b)(2), if applicable,
exceeds five percent, provide the following information as
of that date and identify those shares which there is a right
to acquire.
4(a) Amount of Beneficially Owned:
319,654
4(b) Percent of Class:
4.92%
4(c) Number of shares as to which such person has:
(I) sole power to vote or to direct the vote
319,654
(ii) shared power to vote or to direct the vote
0
(iii) sole power to dispose or to direct the disposition of
319,654
(iv) shared power to dispose or to direct the disposition of
0
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ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Reporting person 319,654 Shares - 4.92%
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
Not Applicable
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY
Not Applicable
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Not Applicable
ITEM 9 NOTICE OF DISSOLUTION OF GROUP:
Not Applicable
ITEM 10 CERTIFICATION:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
DATE August 16, 1999
SIGNATURE /s/ Niels W. Johnsen
NAME/TITLE Niels W. Johnsen, Chairman of the Board
International Shipholding Corporation
