Summary of INTERNATIONAL SHIPHOLDING CORP

Item 2.02. Results of Operations and Financial Condition.

On April 29, 2009, International Shipholding Corporation issued an earnings release reporting its financial results for the first quarter of 2009. A copy of the press release is furnished as Exhibit 99.1 and incorporated herein by reference.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Agreements of Certain Officers

(e) The 2009 Stock Incentive Plan. At the annual stockholders' meeting on April 29, 2009, the stockholders of International Shipholding Corporation (the "Company") approved the International Shipholding Corporation 2009 Stock Incentive Plan (the "Plan").

The compensation committee of the board of directors of the Company will generally administer the Plan, and has the authority to grant awards under the Plan, including setting the terms of the awards. Incentives under the Plan may be granted in any one or a combination of the following forms: incentive stock options under Section 422 of the Internal Revenue Code, nonqualified stock options, restricted stock, restricted stock units, stock appreciation rights, and other stock-based awards.

A total of 200,000 shares of the Company's common stock are authorized to be issued under the Plan. The Company has no other equity compensation plan with shares available for issuance. Officers, directors, and key employees of the Company and the Company's consultants and advisors will be eligible to receive incentives under the Plan when designated by the compensation committee as Plan participants.

This brief summary of Plan terms is qualified in its entirety by the terms of the Plan, a copy of which is filed as an exhibit to this report on Form 8-K.

Item 8.01 Other Events

On April 29, 2009, International Shipholding Corporation issued a press release announcing its 2009 Annual Meeting results. A copy of the press release is furnished as Exhibit 99.3 and incorporated herein by reference.

Item 9.01           Financial Statements and Exhibits

(d)       Exhibits
Exhibit
Number    Description
99.1      Earnings Release dated April 29, 2009 - 1:51 pm,
          U.S. Eastern Time
99.2      International Shipholding Corporation 2009 Stock
          Incentive Plan
99.3      Press Release dated April 29, 2009 - 4:26 pm, U.S.
          Eastern Time