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, Inc. (NYSE: INSW) has completed the sale of its 50% interest in two floating storage and offshore vessels to Euronav NV for a total value of
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International Seaways (NYSE: INSW) issued a statement in response to an open letter from Famatown Finance, revealing its commitment to shareholder value and strategic growth. The company highlights a 52% stock increase year-to-date, driven by the acquisition of Diamond S Shipping, which has significantly enhanced its fleet and earnings. A recent stockholder rights plan was adopted to protect against hostile takeovers, particularly from competitors. The Board, with extensive experience, is engaged with shareholders and will evaluate the Famatown letter cautiously.
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.
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.
International Seaways, Inc. (NYSE: INSW) announced it will release its first quarter 2022 results on
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.
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.
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.
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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