Highest-materiality recent filing
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 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 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 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).
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).
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).
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.
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).
International Seaways completes acquisition of six MR product carriers for ~$232M
Aggregate consideration of ~$232M, payable 85% cash and 15% common 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.
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.
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 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).
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