Business UpdateApr 29, 2026, 09:06 AM
INSW 2025 Net Income $309.3M; $1.0B Returned to Shareholders
AI Summary
International Seaways, Inc. reported strong financial results for 2025 with a net income of $309.3 million and TCE Revenues of $819.6 million. The company emphasized its disciplined capital allocation, returning over $1.0 billion to shareholders since 2020, including $144.6 million in dividends in 2025. Strategic actions included selling 12 vessels for $246.3 million, acquiring full ownership of the Tankers International pool, and issuing $250 million in senior unsecured bonds to enhance liquidity and deleverage.
Key Highlights
- 2025 Net Income: $309.3 million; TCE Revenues: $819.6 million.
- Paid $144.6 million in dividends in 2025; an additional $106.4 million in Q1 2026.
- Returned over $1.0 billion to shareholders since 2020 through dividends and buybacks.
- Sold 12 vessels for $246.3 million net proceeds, recognizing $42.5 million net gains.
- Acquired 100% ownership of Tankers International pool in January 2026.
- Issued $250 million 7.125% senior unsecured bonds due September 23, 2030.
- Total liquidity increased to $723.6 million at the end of 2025.
- Exercised purchase options on six VLCCs for $257.8 million, reducing interest expense.