International Seaways Stock Price, News & Analysis

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.

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.

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.

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.

International Seaways (NYSE: INSW) reported a second-quarter net loss of $18.8 million, or $0.67 per diluted share, compared to a net income of $64.4 million in the same period last year. The company completed its merger with Diamond S Shipping, creating the largest U.S.-listed diversified tanker company. It projects annual synergies of $32 million from the merger by 2022. As of June 30, 2021, cash totaled $133.6 million. INSW paid a $31.5 million special dividend, or $1.12 per share, and a regular quarterly dividend of $0.06 per share, emphasizing shareholder returns despite financial losses.

International Seaways, Inc. (NYSE: INSW) plans to release its second quarter 2021 results before the market opens on August 9, 2021. A conference call is scheduled for the same day at 9:00 a.m. ET to discuss these results. Participants can join the call by dialing specific numbers for domestic and international callers. A replay will be available shortly after the call concludes. The company operates a fleet of 102 vessels and provides energy transportation services, focusing on operational efficiency and customer service.

International Seaways (NYSE: INSW) has finalized its merger with Diamond S Shipping (NYSE: DSSI), creating one of the largest tanker companies globally.

The new entity operates over 100 vessels, combining strengths in crude and product markets, with anticipated cost synergies exceeding $23 million and revenue synergies of $9 million by the end of 2022.

INSW shareholders will retain approximately 55.75% of the combined equity, while a special dividend of $1.12 per share was distributed on July 15, 2021, marking a significant step in enhancing the company's market position.