SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
JOHNSEN ERIK L
(Last) (First) (Middle)
111 MYRTLEWOOD LANE
(Street)
MOBILE AL 36608
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
INTERNATIONAL SHIPHOLDING CORP [ ISH ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President
3. Date of Earliest Transaction (Month/Day/Year)
07/30/2007
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/30/2007 M 1,990 A $14.125 61,490 D
Common Stock 07/30/2007 S(1) 800 D $20.7 60,690 D
Common Stock 07/30/2007 S(1) 100 D $20.81 60,590 D
Common Stock 07/30/2007 S(1) 100 D $20.91 60,490 D
Common Stock 07/30/2007 S(1) 100 D $20.93 60,390 D
Common Stock 07/30/2007 S(1) 100 D $20.95 60,290 D
Common Stock 07/30/2007 S(1) 500 D $21 59,790 D
Common Stock 07/30/2007 S(1) 290 D $21.04 59,500 D
Common Stock 40.2 I See Footnote(2)
Common Stock 16,250 I See Footnote(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options (right to buy) $14.125 07/30/2007 M 1,990 07/21/1999 04/15/2008 Common Stock 1,990 $0 0 D
Explanation of Responses:
1. Shares sold pursuant to the 10b5-1 Plan for Erik L. Johnsen
2. My pro rata share as general partner of a limited partnership.
3. Held in trust for the benefit of my three children. No beneficial ownership is claimed.
/s/ Erik L. Johnsen 08/01/2007
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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