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) 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.
International Seaways, Inc. (NYSE: INSW) announces CFO Jeff Pribor's participation in the Future of Shipping Virtual Conference on June 29, 2021. Hosted by Maxim Group LLC and M-Vest, this conference will feature discussions on industry developments and market trends across various shipping sectors, including tankers. Pribor will join experts in a panel titled 'Tanker Industry Update: Future Vessel Supply and Industry Trends' from 10:30 AM to 11:30 AM ET. International Seaways operates a fleet of 36 vessels, focusing on crude oil and petroleum transportation.
International Seaways and Diamond S Shipping announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, a key step toward completing their proposed stock-for-stock merger. This expiration satisfies one condition for the merger, which is anticipated to finalize in Q3 2021, pending shareholder approval and other customary conditions. The companies will continue to provide updates as they proceed with the transaction, reinforcing their commitment to enhancing shareholder value through this merger.
International Seaways reported a net loss of $13.4 million, or $0.48 per diluted share for Q1 2021, down from a net income of $33 million in Q1 2020. TCE revenues decreased significantly to $45.2 million from $119.7 million year-over-year. The company announced a merger with Diamond S Shipping, enhancing their fleet to 100 vessels and expected shipping revenues exceeding $1 billion. A special dividend of approximately $1.10 per share is planned for shareholders before the merger. Cash stood at $172.4 million as of March 31, 2021.
International Seaways, Inc. (NYSE: INSW) plans to release its first quarter 2021 results on May 6, 2021, before market open. A conference call will be held at 10:00 a.m. ET on the same day, accessible through a dedicated phone line and a live webcast on the company's website. An audio replay will be available post-call until May 13, 2021. International Seaways operates a fleet of 36 vessels and is a major player in energy transportation for crude oil and petroleum products worldwide. The company emphasizes high operational efficiency and customer service.
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