Highest-materiality recent filing
International Seaways annual meeting passes all proposals; board approves officer pay raises
All nine director nominees elected; EY ratified as auditor; NEO pay approved; rights agreement ratified.
International Seaways enters $200M ATM equity program, terminates prior $100M facility
New Equity Distribution Agreement with BTIG, B. Riley, Clarksons, Fearnleys to sell up to $200M of common stock.
International Seaways Q1 net income $286M, declares record $4.55/share dividend
Net income $286M ($5.75 diluted EPS); adjusted net income $194M ($3.90 diluted EPS).
International Seaways amends poison pill: purchase price to $95, expiry extended to 2029
Second Amended & Restated Rights Agreement extends Final Expiration Date from April 10, 2026 to April 8, 2029.
International Seaways subsidiary joins $500M RCF as guarantor, pledges VLCC as collateral
Hendricks Tanker Company LLC became a subsidiary guarantor under the $500M revolving credit facility.
International Seaways Q4 net income $128M ($2.56 EPS); declares $2.15 combined dividend
Q4 net income $128M ($2.56 diluted EPS) vs $36M ($0.72) in Q4 2024; full year net income $309M ($6.23).
International Seaways sells five older tankers for $185M net proceeds, expects $65M gains
Sold or agreed to sell 3 MR & 2 VLCC tankers since year-start.
International Seaways acquires sole ownership of Tankers International; forms Suezmax pool
Wholly-owned subsidiary acquired sole ownership of Tankers International, a leading VLCC pool founded in 2000.
International Seaways Q3 net income $71M ($1.42 EPS), down from $92M YoY; declares $0.86 dividend
Net income $71M ($1.42 per diluted share) vs $92M ($1.84) YoY; adjusted net income $57M ($1.15).
International Seaways to redomicile vessel-owning entities to Bermuda by Q4 2025
Amendments to $500M and $160M credit facilities permit borrower and guarantors to redomicile from Marshall Islands/Liberia to Bermuda.
International Seaways issues $250M of 7.125% senior unsecured bonds due 2030
$250M aggregate principal, 7.125% coupon, maturity September 23, 2030; interest paid semi-annually.
International Seaways prices $250M 7.125% senior unsecured bonds due 2030
$250M aggregate principal at 7.125% per annum, due September 2030; bonds issued at par.
International Seaways Plans Five-Year Senior Unsecured Bond Issue to Refinance Ocean Yield Agreement
International Seaways (NYSE: INSW) will hold fixed income investor meetings starting September 3, 2025.
International Seaways enters $239.7M term loan and $91.9M revolver for six LR1 tanker newbuilds
Credit facility with DNB Bank ASA composed of $239.7M term loan and $91.9M revolving credit facility.
International Seaways Q2 net income falls to $62M; declares $0.77 combined dividend for Q3
Net income $62M ($1.25 diluted) vs $145M ($2.91) in Q2 2024; adjusted net income $50M ($1.02).
International Seaways stockholders elect all nine director nominees at 2025 annual meeting
All nine director nominees elected with votes in favor ranging from 35.9M to 37.7M; 3.7M broker non-votes.
INSW Q1 net income falls 65% YoY to $50M; declares $0.60 dividend
Net income Q1 2025 $50M ($1.00 diluted EPS) vs $144M ($2.92) a year ago; adjusted $40M ($0.80).
INSW subsidiaries join $500M RCF as guarantors, pledge two MR tankers as replacement collateral
Alpha Seaways MR Tanker Corp. and Delta Seaways MR Tanker Corp. became subsidiary guarantors under the $500M credit facility.
CFO Pribor base salary increased to $625,000; target bonus raised to 110%.
International Seaways Q4 net income $36M ($0.72/diluted); declares $0.70 combined dividend
Q4 net income $36M ($0.72/diluted) vs $132M ($2.68/diluted) YoY; full year $417M ($8.38/diluted) vs $556M ($11.25/diluted).
International Seaways terminates retiree health plan; distributions within 12–24 months
Board terminated the Retiree Health and Welfare Plan on Dec 26, 2024.
Consulting fee of $500,000 paid in two equal installments of $250,000 each.
Chairman Douglas Wheat resigns; Captain Ian Blackley appointed Chairman of International Seaways
Douglas Wheat resigned as Chairman and Board member effective Nov 22, 2024; no disagreement with Company.
International Seaways Q3 net income $92M; declares $1.20/share combined dividend
Net income $92M ($1.84 diluted EPS); adjusted net income $78M ($1.57 EPS); adjusted EBITDA $130M.
International Seaways repurchases 501,646 shares for ~$25M; $25M remaining under authorization
Repurchased 501,646 shares at avg $49.81 per share, total cost ~$25M.
INSW Q2 net income $144.7M ($2.91/sh), down YoY; Q3 dividend $1.50; bought 6 MRs for $232M
Net income $144.7M ($2.91 diluted EPS) vs $153.8M ($3.11) in Q2 2023; adjusted net income $118M ($2.37).
Board increased annual equity comp for non-employee directors by $15K: Chair to $235K, others to $115K.
International Seaways completes acquisition of six MR product carriers for ~$232M
Aggregate consideration of ~$232M, payable 85% cash and 15% common stock.
International Seaways acquires one MR Product Carrier, issues 102,677 shares in private placement
Acquired one of six previously announced MR Product Carriers; total consideration for all six is ~$232M (85% cash, 15% stock).
International Seaways closes on two MR product carriers; issues 210,130 shares
Acquired two 2014/2015-built MR Product Carriers on May 7 and May 9, 2024.
International Seaways Q1 net income $144.5M ($2.92/dil EPS); declares $1.75/share combined dividend
Net income $144.5M ($2.92/dil EPS) vs $172.6M ($3.47/dil) in Q1 2023.
International Seaways refinances credit facility: new $500M RCF maturing 2030
Replaced $750M credit facility with new $500M revolving credit facility maturing Jan 31, 2030.
Acquired two MR Product Carriers (built 2014/2015) on Apr 29 and May 1, 2024, as partial closing of previously announced six-vessel purchase.
International Seaways nominates two new independent directors; Kronsberg to retire
Kristian K. Johansen (from Seatankers discussions) and Darron M. Anderson (independent search) nominated for election at June 2024 Annual Meeting.
International Seaways raises CEO salary to $800K, CFO to $610K, effective Jan 1
CEO Zabrocky salary increased from $750K to $800K; CFO Pribor from $580K to $610K; retroactive Jan 1, 2024.
INSW posts record full-year 2023 net income of $556M; Q4 net income $132M, dividend $1.32/share
Full-year 2023 net income $556.4M ($11.25 diluted EPS), up from $387.9M in 2022; record earnings.
Director Nadim Qureshi resigns from International Seaways board; board reduced to nine
Nadim Qureshi resigned effective Feb 19, 2024; no disagreement with company or board.
International Seaways enters $100M ATM equity program with Evercore and Jefferies
Up to $100M of common stock may be sold 'at the market' through Evercore Group and Jefferies as sales agents.
International Seaways Q3 net income $98M ($1.99/sh); declares combined dividend $1.25/sh
Net income $97.9M ($1.99 diluted EPS) vs $113.4M ($2.28) in Q3 2022; adjusted net income $100.7M ($2.04).
International Seaways enters $160M revolving credit facility; draws $50M initially
5.5-year revolving facility matures March 27, 2029; secured by first lien on five vessels.
Net income $153.8M ($3.11 diluted) vs $69.0M ($1.38) YoY; revenue $292.2M, up 55%.
International Seaways repurchased 61,883 shares at $37.16 avg; $26.1M remaining under $60M program
Repurchased 61,883 shares of common stock in open market last week at avg price $37.16 per share.
International Seaways reports annual meeting vote results; directors elected, auditor ratified
Ten directors elected with majority votes; highest: Doug Wheat (31,864,245 for), lowest: Alexandra Blankenship (23,584,695 for).
INSW announces preliminary voting results; all 10 director nominees re-elected
Stockholders voted to re-elect all 10 director nominees at the 2023 Annual Meeting.
International Seaways repurchases 100,000 shares at ~$37.81; $28.4M remains under program
Repurchased 100,000 shares this week at average price $37.81, total cost $3.8M.
International Seaways repurchases 204,600 shares for $7.9M; $32.1M left under buyback
Repurchased 204,600 shares at avg price $38.40/share for $7.9 million in open-market purchases.
International Seaways Q1 net income $173M ($3.47/diluted); declares $1.62 combined dividend
Net income $172.6M ($3.47 diluted) vs net loss $13M ($0.26) in Q1 2022; adjusted net income $162.5M ($3.27).
International Seaways amends poison pill; raises trigger to 20%, extends to 2026
Amended and restated Rights Agreement increases Acquiring Person threshold from 17.5% to 20%.
International Seaways amends credit facility: prepays $97M, adds $40M revolver, releases 22 vessels
Prepaid $97M of term loans; outstanding term loans now $366.3M.
INSW approves salary increases for CEO and other executives; Nugent title change
CEO Zabrocky base salary raised to $750,000; CFO Pribor to $580,000; Small to $530,000; Oshodi to $297,707.
On November 22, 2024, effective upon Mr. Wheat’s resignation, the Board appointed Captain Ian Blackley, a member of the Board since 2016 when the Company was spun off from its predecessor, to serve as Chairman.
On November 22, 2024, Mr. Douglas Wheat resigned from the Board of Directors (the “ Board ”) of International Seaways, Inc. (the “ Company ”), and from his role as Chairman of the Board, both with immediate effect.
announced that it will nominate Kristian K. Johansen and Darron M. Anderson for election as independent directors to the Company’s Board of Directors
announced that it will nominate Kristian K. Johansen and Darron M. Anderson for election as independent directors to the Company’s Board of Directors
the Company was notified that, when his current term expires at the Annual Meeting, Mr. Joseph I. Kronsberg will retire from the Board and not stand for re-election as a director
On February 19, 2024, Mr. Nadim Qureshi resigned from the Board of Directors (the “ Board ”) of International Seaways, Inc. (the “ Company ”) with immediate effect.
The Committee also approved changes in the title of Mr. Nugent from “Senior Vice President and Head of Vessel Operations” to “ Senior Vice President and Chief Technical and Sustainability Officer ”.
The three vacancies created by the resignation of Mr. Wallach and the expansion of the Board were filled by the Board with Mr. Stevenson, Alexandra K. Blankenship and Nadim Qureshi, the three directors designated by Diamond S in accordance with the Merger Agreement.
The three vacancies created by the resignation of Mr. Wallach and the expansion of the Board were filled by the Board with Mr. Stevenson, Alexandra K. Blankenship and Nadim Qureshi, the three directors designated by Diamond S in accordance with the Merger Agreement.
The three vacancies created by the resignation of Mr. Wallach and the expansion of the Board were filled by the Board with Mr. Stevenson, Alexandra K. Blankenship and Nadim Qureshi, the three directors designated by Diamond S in accordance with the Merger Agreement.
Resignation of Director Effective as of the Effective Time, as contemplated by the Merger Agreement to permit three directors designated by Diamond S to serve on the Board, Mr. Ty E. Wallach resigned as a member of the Board.
Diamond has advised that Craig H. Stevenson, Jr., Alexandra K. Blankenship and Nadim Qureshi have been selected by Diamond as Diamond’s designees to the INSW Board with effect upon the Effective Time.
Max materiality 0.85 · Median 0.55 · Most common event other_material