INSW - Dividend announcements

International Seaways, Inc. (NYSE:INSW) (the "Company," "Seaways," or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced today that since the start of the year, it has sold or entered into agreements to sell five vessels for aggregate proceeds of approximately $185 million, net of commissions and fees. The vessels are among the oldest in the fleet, consisting of three MRs with an average age of 18 years and two VLCCs with an average of 15 years. The Company expects to close these transactions during the first quarter of 2026 and recognize gains from the vessel sales of approximately $65 million. A

International Seaways, Inc. (NYSE:INSW) announces today that it has successfully placed $250 million of new senior unsecured bonds in the Nordic bond market. The new bonds are due to mature in September 2030 and will pay a fixed coupon of 7.125% per annum, payable semi-annually in arrears. An application will be made for the bonds to be listed on the Oslo Stock Exchange. The net proceeds from the bond issue are intended to be used for the refinancing of the Ocean Yield sale-and-leaseback agreement and for general corporate purposes. DNB Carnegie, Nordea Bank Abp, filial i Norge, Arctic Securities AS and Skandinaviska Enskilda Banken AB (publ) Oslofilialen ("SEB") acted as Joint Bookrunn

International Seaways, Inc. (NYSE:INSW), through its Norwegian investment banks, will arrange a series of fixed income investor meetings commencing September 3, 2025. A five-year USD denominated senior unsecured bond issue may follow, subject to inter alia market conditions. The net proceeds from the contemplated bond issue are intended to be used for the refinancing of the Ocean Yield and sale-and-leaseback agreement and for general corporate purposes. The senior unsecured bonds, if issued, will be offered in the United States or its territories only to persons reasonably believed to be qualified institutional buyers as defined under Rule 144A under the Securities Act of 1933, as amend

International Seaways (NYSE:INSW), one of the world's largest tanker companies, and V., the global ship manager and marine services provider, have today announced the launch of a newly designed female cadet program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250516979996/en/ Together with INSW, V. is implementing various strategic initiatives to create a more female friendly working environment onboard, which include access to gender specific facilities, workwear, safety equipment, and health and wellness programs. This intake of female cadets will join two dedicated and adapted training ships in September and will be support

International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced today that the Company has repurchased 501,646 shares of its common stock in open-market purchases over the last week, at an average price of $49.81 per share, for a total cost of approximately $25 million. The repurchased shares will be retired. The Company has approximately $25 million available under the current $50 million share repurchase program that expires at the end of 2025. "Seaways continues to deliver on its commitment to returning value to shareholders by utilizing our share rep

Reiterates Commitment to Delivering Shareholder Value Provides Important Context Regarding Engagement with Seatankers Recommends Shareholders Vote "FOR" All International Seaways Directors and All Other Proposals at Upcoming Annual Meeting International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today issued the following statement in response to the public letter released this morning by Famatown Finance Limited ("Seatankers"). The INSW Board of Directors and management team are committed to delivering value to all INSW shareholders. To that end, we

International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today issued the following statement: International Seaways is singularly focused on delivering value to our shareholders, and the record earnings we recently announced are evidence that our strategy is yielding results. We engage regularly with our shareholders and, since Famatown disclosed its interest in International Seaways, we have been seeking to work with Famatown constructively. We remain firmly committed to acting in the best interests of International Seaways and all of our shareholders an

International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced today that in connection with its recently renewed $60.0 million share repurchase program, the Company has repurchased 687,740 shares of its common stock in open-market purchases in August, at an average price of $29.08 per share, for a total cost of approximately $20.0 million. The shares repurchased will be retired. The Company has approximately $40.0 million available under the current $60.0 million share repurchase program. ABOUT INTERNATIONAL SEAWAYS, INC. International Seaways, Inc. (N

International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today announced that it has completed a transaction in which the Company has sold its 50% stake in two floating storage and offshore (FSO) vessels to its joint venture partner Euronav NV. The purchase price values the two FSO vessels at $300 million in total. Net of adjustments for working capital and expenses, International Seaways received approximately $140 million in cash from the sale. The transaction has been approved by North Oil Company ("NOC"), the operator of the Al Shaheen field, whose shar

International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today announced that it has closed on a new senior secured credit facility (the "Facility") with an aggregate capacity of $750 million, composed of a term loan of $530 million and a revolving credit facility of $220 million, of which $70 million was drawn on May 24, 2022. The Facility matures in May 2027. The proceeds from the Facility were used to repay three existing senior debt facilities aggregating $575 million at the time of closing. Jeff Pribor, the Company's CFO, commented, "We are pleased to

International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW") one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today issued the following statement following the open letter published on May 10, 2022, by Famatown Finance Limited ("Famatown"), a company indirectly controlled by trusts settled by Mr. John Fredriksen and a member of the Seatankers Group. International Seaways is singularly focused on delivering value to our shareholders. We have taken decisive steps over the past 18 months to strengthen our industry position, enhance our scale, solidify our balance sheet, optimize our fleet and position ourselves

NEW YORK, May 10, 2022 (GLOBE NEWSWIRE) -- Famatown Finance Limited ("Famatown"), a company indirectly controlled by trusts settled by Mr. John Fredriksen1 and a member of the Seatankers Group, which is the largest owner of shares of common stock, no par value ("Common Stock") of International Seaways, Inc. ("International Seaways") (NYSE:INSW) with ownership of approximately 16.6% of the outstanding Common Stock, has issued an open letter to the Board of Directors of International Seaways. The full text of the letter sent to the Board of Directors of International Seaways follows: May 10, 2022 Dear Board Members, The Seatankers Group holds significant interests within industries such

Issues Open Letter to Fellow Shareholders Regarding the Need for Boardroom Change Following Another Year of Stagnation and Underperformance Shares Information Regarding the Company's Recent Efforts to Intimidate Engine and Once Again Undermine Corporate Democracy Launches www.ABetterPathforBlucora.com to Share Views with Respect to the Company and Communicate with Stakeholders Engine Capital LP today issued the below letter regarding its decision to nominate three highly qualified and independent candidates for election to the Board of Directors of Blucora, Inc. (NASDAQ:BCOR) at the 2022 Annual Meeting of Shareholders. *** Fellow Shareholders: Engine Capital LP (together with its aff

International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products announced today that in connection with its existing $50.0 million share repurchase program, the Company has repurchased 1,077,070 shares of its common stock in open-market purchases in December, at an average price of $15.44 per share, for a total cost of approximately $16.7 million. The shares repurchased will be retired. The Company has approximately $33.3 million available under the $50.0 million share repurchase program, authorized by the Board of Directors in August 2020 for a 24-month period. Ab

Transaction Further Diversifies Company's Capital Structure with Favorable Long-Term Financing International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today announced that it has signed agreements with Ocean Yield ASA ("Ocean Yield") for the refinancing of six vessels in attractively structured sale leaseback transactions. The bareboat charter-in lease agreements for the six modern scrubber-fitted VLCCs (Seaways Tybee, Seaways Triton, Seaways Cape Henry, Seaways Hendricks, Seaways Liberty, and Seaways Diamond Head) are for a period of 10 years with purcha

Highly Accretive Transaction Creates Second Largest U.S.-listed Tanker Company by Vessel Count and Third Largest by Dwt International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced today the completion of its previously announced merger with Diamond S Shipping Inc. (NYSE:DSSI) ("Diamond S"). The combined company will continue to operate as International Seaways and trade on the New York Stock Exchange under the symbol INSW. The Company expects to achieve cost synergies in excess of $23 million and revenue synergies of $9 million, which are expected to

International Seaways, Inc. (NYSE:INSW) ("INSW") and Diamond S Shipping Inc. (NYSE:DSSI) ("Diamond S") announced today that the required waiting period has expired under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act") in connection with the proposed stock-for-stock merger transaction between INSW and Diamond S (the "Merger"). The expiration of the waiting period under the HSR Act satisfies one of the conditions to the closing of the Merger. The Merger, which is expected to close in the third quarter of 2021, remains subject to the approval of the shareholders of INSW and Diamond S and other customary closing conditions. This press release features multimedia. View the f

International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products today reported results for the first quarter of 2021. Highlights Net loss for the three months ended March 31, 2021 was $13.4 million, or $0.48 per diluted share, compared to net income of $33.0 million, or $1.12 per diluted share, in the first quarter of 2020. Time charter equivalent (TCE) revenues(A) for the first quarter were $45.2 million, compared to $119.7 million for the first quarter of 2020. Adjusted EBITDA(B) for the first quarter was $10.7 million, compared to $74.2 million for the fir

International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW") announced today that it plans to release first quarter 2021 results before market open on Thursday, May 6, 2021. The Company will host a conference call to discuss its first quarter 2021 results at 10:00 a.m. Eastern Time ("ET") on Thursday, May 6, 2021. To access the call, participants should dial (833) 329-1696 for domestic callers and (639) 380-0031 for international callers, and entering Conference ID 7891019. Please dial in ten minutes prior to the start of the call. A live webcast of the conference call will be available from the Investor Relations section of the Company's website at https://www.intlseas.com/. An au

NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, today reported results for the fourth quarter and full year 2020. Highlights Net loss for the twelve months ended December 31, 2020 was $5.5 million, or $0.20 per diluted share. Net loss for 2020 reflects the impact of impairments and loss on sale of vessels of $100.1 million and various expenses related to refinancing of $14.5 million, and a non-cash deferred tax provision of $16.4 million recorded as a reduction of equity in results

NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, today announced that it has entered into an agreement to build three dual-fuel LNG VLCCs. The three vessels will be constructed at leading South Korean shipyard DSME and are expected to deliver in 2023. Upon delivery, the three vessels will commence seven-year time charters with Shell. The Company expects to fund the construction costs with cash and long-term financing. “We are pleased to partner with market leading counterparty Shell

NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”) announced today that it plans to release fourth quarter 2020 results before market open on Friday, March 12, 2021. The Company will host a conference call to discuss its fourth quarter 2020 results at 9:00 a.m. Eastern Time (“ET”) on Friday, March 12, 2021. To access the call, participants should dial (855) 940-9471 for domestic callers and (412) 317-5211 for international callers. Please dial in ten minutes prior to the start of the call. A live webcast of the conference call will be available from the Investor Relations section of the Company’s website at https://www.intlseas.com/. An

NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, today announced that it has signed the Neptune Declaration on Seafarer Wellbeing and Crew Change in a worldwide call to action to end the unprecedented crew change crisis caused by COVID-19. Developed by a taskforce of stakeholders from across the maritime value chain, the Neptune Declaration is a commitment signed by more than 300 companies and organizations to work together to ensure that the crew change crisis is resolved as soon as

NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, today announced that it has issued its inaugural Environmental, Social, and Governance (“ESG”) report for 2019. The report outlines the Company’s ESG metrics and performance, as well as its vision and goals for the future. “Our inaugural ESG report reflects our commitment to responsible corporate citizenship, consistent with the core philosophy that has driven our business since our predecessor’s founding more than 60 years ago,” said L