Intl Seaways (INSW) Q3 2025

Industry Discussions Shipping News
1

11/06

Company announced Q3 2025 results earlier today. Including

  • Shipping Rev of $196M
  • Net Income of $71M (Adj Net Income of $57M, back out gains on vessel sales )
  • Adj EBITDA of $108M
  • Declared combined div of 86c/sh (12c reg, 74c special)
  • Took delivery of first LR1 newbuild
  • Issued $250M of unsecured bonds in Sept 2025 that were used subsequently to pay off a Sale-&-Leaseback facility on 6 VLCCs.

https://www.intlseas.com/newsroom/news/news-details/2025/International-Seaways-Reports-Third-Quarter-2025-Results/default.aspx

Sprucing up the fleet continues - older MR vessels exit, and a second LR1 will deliver. Four more LR1s in 2026. Will probably revisit after skimming the earnings call

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