International Seaways Inc (N:INSW)
Business Focus: Sea-Borne Tankers
| Sector: Energy | Industry: Oil & Gas Transportation Services |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 600 3rd Ave Fl 39 NEW YORK NY 10016-2026 |
| Tel: | N/A |
| Website: | https://www.intlseas.com |
| IR: | See website |
| Key People | ||
| Lois K. Zabrocky President, Chief Executive Officer, Director | Jeffrey D. Pribor Chief Financial Officer, Senior Vice President, Treasurer | James D. Small Chief Administrative Officer, Senior Vice President, Secretary, General Counsel |
| William F. Nugent Senior Vice President, Head of Ship Operations | Derek G. Solon Senior Vice President, Chief Commercial Officer | Adewale O. Oshodi Vice President, Controller |
| Business Overview |
| International Seaways, Inc. is a tanker company engaged in providing energy transportation services for crude oil and petroleum products in international flag markets. The Company operates through two segments: Crude Tankers and Product Carriers. The Crude Tankers segment is made up of a fleet of VLCCs, Suezmaxes, and Aframaxes engaged in the worldwide transportation of crude oil. This segment also includes its Crude Tankers Lightering business through which it provides ship-to-ship (STS) lightering support services and full-service STS lightering to customers in the United States Gulf (USG), United States Pacific, Grand Bahama, and Panama regions. The Product Carriers segment consists of a fleet of MRs, LR1 product carriers, and an LR2 product carrier engaged in the worldwide transportation of refined petroleum products. It owns and operates a fleet of about 77 vessels, including 13 VLCCs, 13 Suezmaxes, five Aframaxes/LR2s, 11 LR1s, of which four are new buildings, and 35 MR tankers. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, International Seaways Inc revenues increased 24% to $1.07B. Net income applicable to common stockholders increased 44% to $556M. Revenues reflect Crude Tankers segment increase of 58% to $524M, Product Carriers segment increase of 3% to $547.8M. Net income benefited from G/L on Disposal of Vessels & Other Prope increase of 83% to $35.9M (income). |
| Employees: | 2,698 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $3,158M as of Dec 31, 2023 |
| Annual revenue (TTM): | $1,072M as of Dec 31, 2023 |
| EBITDA (TTM): | $709.10M as of Dec 31, 2023 |
| Net annual income (TTM): | $556.04M as of Dec 31, 2023 |
| Free cash flow (TTM): | $173.62M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $535.92M as of Dec 31, 2023 |
| Shares outstanding: | 48,930,872 as of Feb 27, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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