---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-056306"
form_type: "8-K"
ticker: "INSW"
cik: "0001679049"
company_name: "International Seaways, Inc."
filed_at: "2023-05-05T23:59:59+00:00"
generated_at: "2026-06-15T16:58:20.358481+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# International Seaways Q1 net income $173M ($3.47/diluted); declares $1.62 combined dividend

## Summary
- Net income $172.6M ($3.47 diluted) vs net loss $13M ($0.26) in Q1 2022; adjusted net income $162.5M ($3.27).
- Revenue $287.1M, TCE revenue $283.3M, adjusted EBITDA $209M vs $26M in prior year.
- Board declared regular quarterly dividend $0.12 and supplemental $1.50 per share, payable June 28, 2023.
- Fleet actions: Took delivery of two dual-fuel VLCCs; purchased two Aframaxes at ~45% discount; sold one MR for ~$10M.
- Amended $750M credit facility: prepaid $97M term loan; increased revolver by $40M to ~$260M; released 22 vessels from collateral.

## SEC filing metadata
- accession: 0001104659-23-056306
- form_type: 8-K
- ticker: INSW
- cik: 0001679049
- company_name: International Seaways, Inc.
- filed_at: 2023-05-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1679049/000110465923056306/0001104659-23-056306-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1679049/000110465923056306/tm2314809d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-056306
- JSON: https://secwatch.observer/filing/0001104659-23-056306.json
- Plain text: https://secwatch.observer/filing/0001104659-23-056306.txt

## Key facts
- Earnings Releases
  International Seaways, Inc. reported first quarter 2023 results: revenue $287.1 million, net income $172.6 million, or $3.47 per diluted share, EPS $3.47 per diluted share.
  - Period: first quarter 2023
  - Revenue: $287.1 million
  - Net income: $172.6 million, or $3.47 per diluted share
  - EPS: $3.47 per diluted share
  - Result: reported results
  source text: and the effects of sanctions on Russian oil that disrupted trading patterns leading to longer voyages and higher tanker utilization. Shipping revenues for the first quarter were $287.1 million, compared to $101.5 million for the first quarter of 2022. Consolidated TCE revenues for the first quarter were $283.3 million, compared to $98.0 million for the first quarter of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1679049/000110465923056306/0001104659-23-056306-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.