International Seaways (INSW) announced their Q4 2025 results on 02/26/26. Highlights include
- Revenue of $267.9M
- Adj EBITDA of $174.8M
- Adj Net Income of $122M
- Declared Q4 div of $2.15/sh – Largest quarterly div in company history
- Charter rate for LR1s in Q4 2025 appear to validate INSW newbuild decision
In Q4 2025, dirty tankers generated more revenue than clean. INSW also bought the remaining stake of Tankers International (VLCC tanker pool) with plans to expand the pool. Took delivery of a 2nd hand VLCC. While INSW still has some older vessels, the company is fairly active in “pruning” the fleet. INSW has announced plans to sell vessels - so far, 5 vessel sales announced for 2026.