SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                                 FORM 8-K

                              CURRENT REPORT
                  Pursuant to Section 13 or 15(d) of the
                      Securities Exchange Act of 1934

  Date of Report (Date of earliest event reported) August 6, 1999


                   INTERNATIONAL SHIPHOLDING CORPORATION
            (Exact name of registrant as specified in its charter)


     Delaware                          2-63322               36-2989662
(State or other jurisdiction    (Commission File Number)   (IRS Employer
      of incorporation)                                   Identification No.)



650 Poydras Street, New Orleans, Louisiana                     70130
(Address of principal executive offices)                    (Zip Code)



                                 (504) 529-5461
             (Registrant's telephone number, including area code)


                                  Not applicable
        (Former name or former address, if changed since last report.)




ITEM 5.    OTHER EVENTS

     On August 6, 1999, the Company issued the following press release:

New  Orleans,  Louisiana,  August  6,  1999  ...  International Shipholding
Corporation ("ISC") (NYSE: ISH) announced today that  it  has  settled  its
outstanding  contract  litigation  with Seminole Electric Cooperative, Inc.
In the settlement, Seminole has paid approximately $23.0 million to Central
Gulf Lines, Inc., a wholly owned subsidiary  of  ISC,  and  all  agreements
between  Central  Gulf and Seminole have been terminated.  This settlement,
less related expenses,  and  after  offsets and previously accrued contract
profits, will be reported in ISC's third quarter results.

The settlement fully resolves all litigation  among  Central Gulf, Seminole
and  their respective subsidiaries and affiliates.  The  litigation,  which
involved  three  separate  lawsuits in state and federal courts in Florida,
arose out of Seminole's unilateral termination of its contract with Central
Gulf for the transportation  of  coal  by  Central  Gulf  from  Mt. Vernon,
Indiana to Gulf County, Florida.  The contract, entered into in 1981, would
have  expired  in  2004 according to its terms.  Seminole notified ISC  and
Central Gulf on December  15,  1998,  that  it  was terminating performance
under  the  agreement,  commencing  alternative  rail   transportation  and
commencing  the litigation.  Seminole's stated purpose in  instituting  the
litigation was to confirm Seminole's ability to terminate performance under
the agreement,  and  establish the damages owed by Seminole to Central Gulf
as a result of the termination.

ITEM 7.   FINANCIAL STATEMENTS AND EXHIBITS.

     (a)  Not applicable.

     (b)  Exhibits - none.


                            SIGNATURES

     Pursuant to the requirements  of  the Securities Exchange Act of 1934,
the Company has duly caused this report  to  be signed on its behalf by the
undersigned hereunto duly authorized.

                              INTERNATIONAL SHIPHOLDING CORPORATION


                              By:        /s/ Gary L. Ferguson
                                 -----------------------------------
                                          Gary L. Ferguson
                                         Vice President and
                                       Chief Financial Officer

Dated:  August 6, 1999