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 tanker shipping company that describes itself as one of the largest providers of energy transportation services for crude oil and petroleum products in International Flag markets. The INSW news feed on Stock Titan brings together company-issued updates and regulatory disclosures that explain how this tanker operator manages its fleet, finances and capital allocation over time.
News about International Seaways often centers on quarterly and annual earnings results, where the company reports shipping revenues, segment performance for its Crude Tankers and Product Carriers, time charter equivalent (TCE) revenues, adjusted net income and adjusted EBITDA. These releases also highlight trends in spot earnings across VLCC, Suezmax, Aframax/LR2, LR1 and MR classes, as well as the mix between spot and time charter exposure.
Another recurring news theme is fleet optimization. International Seaways regularly announces vessel sales, purchases and swaps, including transactions involving older VLCCs, MR tankers, LR1 product carriers and modern scrubber-fitted vessels. Updates on its LR1 newbuilding program in Korea with K Shipbuilding Co., Ltd., progress payments, and deliveries of new dual-fuel ready LR1s are also covered in company press releases.
The INSW news stream also includes items on financing and balance sheet activity, such as amendments to revolving credit facilities, export credit agency-backed financing for newbuildings, and the placement and pricing of senior unsecured bonds due 2030 in the Nordic bond market. Form 8-K filings and related press releases describe the terms of these facilities, financial covenants and intended uses of proceeds, including refinancing sale-and-leaseback arrangements on VLCCs.
Investors following INSW news will also see announcements about dividends and share repurchases, where the board declares combined regular and supplemental dividends based on adjusted net income and updates on the company’s share repurchase authorization. Occasionally, International Seaways issues news on workforce and culture initiatives, such as its female cadet program with V., aimed at increasing diversity in the seafaring workforce. For a consolidated view of these developments, the Stock Titan news page for INSW can be used as a reference point for the company’s ongoing operational, financial and corporate updates.
International Seaways (NYSE: INSW) reported its Q4 and full year 2024 results, with Q4 net income of $36 million ($0.72 per share) and full-year net income of $417 million ($8.38 per share). Q4 adjusted EBITDA was $95 million, while full-year adjusted EBITDA reached $583 million.
The company maintained strong financial health with total liquidity of $632 million, including $157 million in cash and $475 million in undrawn revolving credit. The net loan-to-value ratio remained low at 15.5%. INSW executed a vessel swap, exchanging two older VLCCs and $3 million for three 2015-built MRs.
In terms of shareholder returns, INSW paid $5.77 per share in combined dividends during 2024, representing a 12% dividend yield. The company declared a new combined dividend of $0.70 per share for March 2025, representing 77% of Q4 adjusted net income.
International Seaways (NYSE: INSW) has announced it will release its fourth quarter and full year 2024 financial results before market open on Thursday, February 27, 2025. The company will host a conference call for investors at 9:00 a.m. ET on the same day.
The conference call will be accessible via phone using US dial-in +1 (833) 470-1428 or international dial-in +1 (929) 526-1599 with Conference ID 121343. A live webcast will be available through the company's Investor Relations website. An audio replay will be accessible from 12:00 p.m. ET on February 27 through March 6, 2025.
International Seaways Inc. (NYSE: INSW) will replace Consolidated Communications Holdings (NASD: CNSL) in the S&P SmallCap 600 index effective prior to trading on Monday, December 30, 2024. The change comes as Searchlight Capital Partners and British Columbia Investment Management (BCI) are finalizing their acquisition of Consolidated Communications. The transition will see International Seaways joining the index under the Energy sector, while Consolidated Communications will be removed from the Communication Services sector.
International Seaways (INSW) reported Q3 2024 net income of $92 million ($1.84 per diluted share), compared to $98 million in Q3 2023. The company achieved Adjusted EBITDA of $130 million and shipping revenues of $225 million. Total liquidity stood at $694 million, including $153 million in cash. The company declared a combined dividend of $1.20 per share for December 2024, representing 75% of adjusted net income. During Q3, INSW repurchased 501,646 shares for approximately $25 million and sold a 2008-built MR tanker for $24 million. The company maintains a strong balance sheet with a historically low net loan-to-value of 13.5%.
International Seaways (NYSE: INSW) has scheduled its third quarter 2024 earnings release for Thursday, November 7, 2024, before market open. The company will host an investor conference call at 9:00 a.m. ET on the same day. The earnings call will be accessible via phone and webcast through the company's website. An audio replay will be available from 12:00 p.m. ET on November 7 until 11:59 p.m. ET on November 14, 2024.
International Seaways (NYSE: INSW), a leading global tanker company, has announced the repurchase of 501,646 shares of its common stock at an average price of $49.81 per share, totaling approximately $25 million. This move aligns with the company's commitment to returning value to shareholders. The repurchased shares will be retired, and INSW still has about $25 million available under its current $50 million share repurchase program, set to expire at the end of 2025.
CEO Lois K. Zabrocky highlighted that these repurchases, funded by proceeds from a previously announced vessel sale, amount to over 80% of shares issued in the prior quarter for fleet renewal. Additionally, INSW has declared a combined dividend of $1.50 per share, payable on September 25, 2024, to shareholders of record as of September 11, 2024.
International Seaways (NYSE: INSW) reported strong Q2 2024 results with net income of $144.7 million, or $2.91 per diluted share. Adjusted net income was $118.0 million, or $2.37 per diluted share, with Adjusted EBITDA of $167.0 million. The company optimized its fleet by acquiring six eco MRs and selling three older MRs, reducing the average fleet age. INSW enhanced its balance sheet by amending senior secured debt facilities, increasing revolving credit capacity by nearly $150 million and reducing mandatory repayments. The company declared a combined dividend of $1.50 per share for September 2024, representing a 12% yield. Total liquidity was approximately $682 million as of June 30, 2024, with a low net loan-to-value of 14%.
International Seaways (NYSE: INSW) has announced it will release its second quarter 2024 results on Wednesday, August 7, 2024, before the market opens. The company will host an investor conference call at 9:00 a.m. ET on the same day. Investors can join the call using the provided dial-in numbers or listen to a live webcast from the company's website. An audio replay of the call will be available from 12:00 p.m. ET on August 7 until 11:59 p.m. ET on August 14, 2024. This announcement provides shareholders and analysts with the opportunity to review INSW's financial performance and discuss future prospects with management.
International Seaways, Inc. (NYSE: INSW) reported strong first-quarter 2024 results with net income of $144.5 million, adjusted EBITDA of $191.5 million, and total liquidity of $626 million. The Company enhanced its balance sheet, returned $1.32 per share to shareholders in dividends, and declared a $1.75 per share dividend for June 2024. They optimized their fleet, acquiring vessels and entering time charter agreements, while strengthening their financial position through debt consolidation.
Summary not available.
FAQ
What is the current stock price of International Seaways (INSW)?
What is the market cap of International Seaways (INSW)?
