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International Seaways, Inc. - INSW STOCK NEWS

Welcome to our dedicated page for International Seaways news (Ticker: INSW), a resource for investors and traders seeking the latest updates and insights on International Seaways stock.

International Seaways, Inc. (NYSE: INSW) is a leading player in the global shipping industry, specializing in the ownership and operation of crude oil, product, and chemical tankers. Established through its predecessor company in 2016, International Seaways currently boasts a robust fleet of 77 vessels. The company leverages its extensive maritime experience to ensure the highest standards of operational efficiency and customer service.

International Seaways operates its fleet through various arrangements including voyage charters, commercial pools, and time charters. These shipping services cater to a global clientele, providing essential transportation for crude oil and petroleum products. The company's operations are divided into two key segments: Crude Tankers and Product Carriers. Its diverse fleet includes ULCC, VLCC, Suezmax, Aframax, and Panamax crude tankers, along with LR1, LR2, and MR product carriers.

Backed by a solid financial foundation, International Seaways is well-positioned to pursue growth opportunities and adapt to market dynamics. The company places a high value on its long-term relationships with commercial and technical management partners, continually striving to exceed stakeholder expectations.

Recent Achievements include enhanced fleet management practices and strategic partnerships aimed at boosting operational efficiency and expanding market reach. The company remains committed to environmental stewardship and regulatory compliance, further reinforcing its reputation in the maritime industry.

For more updates and detailed information about International Seaways, explore the latest news section.

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International Seaways, Inc. (NYSE: INSW) announced the adoption of a limited duration stockholder rights plan aimed at protecting the long-term interests of its investors. The Rights Plan prevents any individual or group from gaining control of the company through market accumulation without offering all stockholders a fair control premium. Each outstanding share will receive one right, exercisable if ownership exceeds 17.5% without board approval. The plan is effective immediately and will expire on May 7, 2023. Further details will be available in SEC filings.

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International Seaways reported a first quarter 2022 net loss of $13 million, or $0.26 per diluted share, showing slight improvement from a net loss of $13.4 million in Q1 2021. Consolidated TCE revenues surged to $98 million from $45.2 million YoY, mainly due to a post-merger fleet expansion. The company announced a quarterly cash dividend of $0.06 per share, marking the ninth consecutive payment. Significant fleet optimization includes the acquisition of the Seaways Eagle and the sale of older vessels, projected to generate $34 million. Adjusted EBITDA stood at $26 million, reflecting rising market dynamics.

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International Seaways, Inc. (NYSE: INSW) announced it will release its first quarter 2022 results on May 4, 2022, before the market opens. A conference call will follow at 8:30 a.m. ET for investors, with a live webcast available on the Company’s website. An audio replay can be accessed from 11:30 a.m. ET on the same day until 11:59 p.m. ET on May 11, 2022. The Company operates a fleet of 84 vessels and is a major player in energy transportation services worldwide.

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International Seaways reported its Q4 and full-year 2021 results, highlighting a transformational merger with Diamond S Shipping, expected to yield over $35 million in synergies. The company returned $57.6 million to shareholders through dividends and share repurchases. Despite a Q4 net loss of $34 million, it significantly improved from a $116.9 million loss in Q4 2020. TCE revenues rose to $93 million for Q4, driven by fleet expansion. The firm also completed numerous financing initiatives, enhancing liquidity by $150 million. Cash on hand stood at $98.9 million as of year-end 2021.

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International Seaways, Inc. (NYSE: INSW) will release its fourth quarter and full year 2021 results before the market opens on March 2, 2022. A conference call is scheduled for 9:00 a.m. ET that same day, where details will be discussed. Investors can participate via a domestic call at (844) 200-6205 or an international call at (929) 526-1599. A live webcast will also be available on the Company's website. An audio replay will be accessible from 12:00 p.m. ET on March 2 until March 9, 2022.

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International Seaways, Inc. (NYSE: INSW) announced its participation in the Capital Link Company Presentation Series on January 24, 2022, at 10:00 am ET. The event will feature CEO Lois Zabrocky and CFO Jeffrey Pribor, who will discuss the company's operations, growth prospects, and the tanker sector's outlook. Interested parties can register for the webinar here. Institutional investors can also request individual meetings with management.

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International Seaways, Inc. (NYSE:INSW) announced the repurchase of 1,077,070 shares of common stock for approximately $16.7 million under its $50 million share repurchase program. The repurchases took place in December at an average price of $15.44 per share. The company now has about $33.3 million remaining in the buyback program authorized in August 2020. The retired shares are expected to enhance shareholder value by reducing the number of outstanding shares.

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International Seaways, Inc. (NYSE: INSW) reported a net loss of $67.4 million in Q3 2021, significantly down from a net income of $14.0 million in Q3 2020. This loss was influenced by $38.0 million in charges related to vessel disposals and the merger with Diamond S Shipping Inc. (NYSE: DSSI), which is expected to generate $32 million in synergies by 2022. The company continued its return to shareholders with a $31.5 million special dividend and a regular dividend of $0.06 per share. Total liquidity surpassed $300 million following a refinancing of six VLCCs.

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International Seaways, Inc. (NYSE: INSW) will release its third-quarter 2021 results before market open on November 9, 2021.

A conference call to discuss the results will be held at 9:00 a.m. ET on the same day. Participants can join by calling (844) 200-6205 for domestic or (929) 526-1599 for international access.

A live webcast will be available on the company's website. An audio replay will be accessible from 12:00 p.m. ET on November 9 to November 16, 2021.

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International Seaways (NYSE: INSW) has announced a refinancing agreement for six vessels with Ocean Yield ASA, utilizing a sale leaseback structure. This deal, expected to close in early November 2021, will generate approximately $375 million to replace an existing $228 million Sinosure facility and bolster liquidity by around $150 million. The transaction is strategically aligned with the company's capital structure and anticipates a recovery in the tanker market. Leadership emphasizes this move as a step towards enhancing shareholder value amidst ongoing market changes.

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FAQ

What is the current stock price of International Seaways (INSW)?

The current stock price of International Seaways (INSW) is $32.53 as of December 20, 2024.

What is the market cap of International Seaways (INSW)?

The market cap of International Seaways (INSW) is approximately 1.6B.

What is the core business of International Seaways, Inc.?

International Seaways, Inc. specializes in the ownership and operation of crude oil, product, and chemical tankers.

How many vessels does International Seaways currently operate?

International Seaways currently owns and operates a fleet of 77 vessels.

When was International Seaways established?

International Seaways commenced operations through its predecessor company in 2016.

What types of tankers are included in International Seaways' fleet?

The fleet includes ULCC, VLCC, Suezmax, Aframax, Panamax crude tankers, and LR1, LR2, MR product carriers.

How does International Seaways provide shipping services?

The company provides shipping services through voyage charters, commercial pools, and time charters.

What are the main segments of International Seaways' operations?

The main segments are Crude Tankers and Product Carriers.

What is the company's approach to stakeholder relationships?

International Seaways values long-term working relationships with its commercial and technical management partners and strives to exceed stakeholder expectations.

How does International Seaways ensure operational efficiency?

The company leverages its experienced team and best operating practices to maintain high levels of operational efficiency.

Is International Seaways financially stable?

Yes, the company stands on a solid financial foundation, supporting agile opportunity-seeking and well-timed growth.

Where can I find the latest news about International Seaways?

The latest updates and detailed information about International Seaways can be found in the latest news section on their website.

International Seaways, Inc.

NYSE:INSW

INSW Rankings

INSW Stock Data

1.61B
39.45M
18.25%
67.18%
2.08%
Oil & Gas Midstream
Water Transportation
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United States of America
NEW YORK