International Seaways Inc
NYSE:INSW

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International Seaways Inc
NYSE:INSW
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Price: 51.13 USD -0.97% Market Closed
Market Cap: 2.5B USD

International Seaways Inc
Investor Relations

International Seaways Inc. sails through the vast oceans of the global shipping industry, navigating the intricate currents that fuel international trade. Born from a rich legacy of maritime expertise, its journey began when it branched off from Overseas Shipholding Group in 2016, embarking on its path as an independent entity. Armed with a robust fleet of vessels, including VLCCs, Suezmaxes, and Panamaxes, the company positions itself at the crossroads of commerce, transporting essential commodities such as crude oil and refined petroleum products across continents. This logistical prowess forms the backbone of its operations, allowing International Seaways to fluidly connect oil-rich regions with consumption-driven markets in need of energy resources.

Guided by a seasoned crew of industry veterans, International Seaways anchors its revenue strategy on the dynamic charter market, where ships are leased out to traders and producers eager to move their valuable cargoes. The company's financial compass is set by fluctuating market rates and the global demand for oil, both constantly influenced by geopolitical tides and economic forecasts. Through adept management of its assets and a keen eye on emerging market trends, International Seaways adeptly adjusts its sails to mitigate risks and capitalize on opportunities. This strategic navigation, coupled with an unwavering commitment to operational excellence and safety, enables International Seaways to remain a steadfast vessel in the ever-evolving maritime industry.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 6, 2025
AI Summary
Q3 2025

Strong Earnings: International Seaways reported third quarter net income of $71 million ($1.42 per diluted share) and adjusted net income of $57 million ($1.15 per share), with adjusted EBITDA at $108 million.

Dividend & Buyback: Announced a combined $0.86 per share dividend for December and extended its $50 million share repurchase program through 2026, maintaining over a 75% payout ratio for five straight quarters.

Fleet Renewal: Continued active fleet renewal with the sale of 8 older vessels ($100 million proceeds in 2025 YTD) and strategic new vessel deliveries, including the purchase of a modern VLCC and delivery of two LR1 tankers.

Liquidity & Balance Sheet: Ended the quarter with $985 million in total liquidity, $413 million in cash, and a low net loan-to-value ratio of 13%. Raised $250 million through a NOK bond at a low coupon.

Market Strength: Management highlighted solid tanker demand fundamentals, strong spot rates into Q4, and favorable supply dynamics with a significant portion of the global fleet aging out.

Guidance: Reported a Q4 blended spot TCE to date of about $40,400 per day (47% booked) and a 2026 breakeven rate near $14,500 per day, expecting continued strong cash generation.

Key Financials
Net Income
$71 million
Adjusted Net Income
$57 million
EPS
$1.42 per diluted share
Adjusted EPS
$1.15 per diluted share
Adjusted EBITDA
$108 million
Dividend per Share
$0.86
Payout Ratio
at least 75% for five consecutive quarters
Share Repurchase Program
$50 million (extended to end of 2026)
Total Liquidity
$985 million
Cash
$413 million
Undrawn Revolver Capacity
$572 million
Net Debt
under $400 million
Net Loan-to-Value
13%
Gross Debt
$804 million
Future Contracted Revenue
over $230 million
Average Duration of Future Contracted Revenue
about 1.5 years
Q4 Blended Average Spot TCE (to date)
$40,400 per day (47% booked)
2026 Breakeven Rate
$14,500 per day
Annualized Cash Flow Yield
nearly 10% on today's share price
Free Cash Flow (Q3)
$63 million
Number of Vessels Sold (2025 YTD)
8 vessels
Proceeds from Vessel Sales (2025 YTD)
$100 million
Earnings Call Recording
Other Earnings Calls

Management

Ms. Lois K. Zabrocky
President, CEO & Director
No Bio Available
Mr. Jeffrey D. Pribor
CFO, Senior VP & Treasurer
No Bio Available
Mr. James D. Small III
Chief Administrative Officer, Senior VP, General Counsel & Secretary
No Bio Available
Thomas Trovato
Vice President of Corporate Finance & Investor Relations
No Bio Available
Mr. Adewale O. Oshodi
VP & Controller
No Bio Available

Contacts

Address
NEW YORK
New York City
600 3rd Ave Fl 39
Contacts
+12129534100.0
www.intlseas.com