# INSW Q3 2023 report **URL:** \ **Category:** Shipping News\ **Created:** [August 10, 2023, 1:36am UTC](https://discussion.fool.com/t/insw-q3-2023-report/95318 "2023-08-10T01:36:13Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![HohumYNWA](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/hohumynwa/32/1511_2.png) [@HohumYNWA](https://discussion.fool.com/u/HohumYNWA)\ **Post date:** [August 10, 2023, 1:36am UTC](https://discussion.fool.com/t/insw-q3-2023-report/95318/1 "2023-08-10T01:36:13Z")
Announced 08/09 - Revenue of $288M - Net income of $154.4M - Liquidity of $493M - Acquired 2 scrubber-fitted, dual fueled LR1 vessels for $115M - Finally revealed rate on the 2023 newbuild VLCCs ($43K daily, plus profitshare). Nice rate for 7 years - Combined dividend of $1.42/sh, or supplemental div of $1.30/sh [International Seaways, Inc. (q4cdn.com)](https://s2.q4cdn.com/533545754/files/doc_downloads/2023/08/INSW-Q2-2023-Earnings-Presentation-FINAL.pdf) Though I liked the results, closed out my small INSW stake earlier today. ---
**Author:** ![HohumYNWA](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/hohumynwa/32/1511_2.png) [@HohumYNWA](https://discussion.fool.com/u/HohumYNWA)\ **Post date:** [August 13, 2023, 1:02am UTC](https://discussion.fool.com/t/insw-q3-2023-report/95318/2 "2023-08-13T01:02:06Z")
Had not noticed this on first pass. But, Slide 16 is informative for Q3 and Q4 data on off-hire and spending. No issue with the timing - if a tanker co. needs to plan on dry-docks and upgrades, the weakest qtr of the cycle is the best time to do so. But, that means INSW, will also take a higher net hit with greater expenses. From a financial perspective, INSW is in a stronger position and can deal with the situation better currently. But, it still represents somewhat of a “surprise” event. Will have to consider the data-point when deciding my re-entry in INSW.