International Seaways, Inc. · NYSE:INSW
International Seaways — Fearnley Tanker Symposium April 2019
12 slides from International Seaways's conference presentation, Apr 26, 2019
Slide 1: Fearnley Tanker Symposium April 2019
International Seaways, Inc. 1 International Seaways, Inc. Fearnley Tanker Symposium April 2019
Slide 2: Disclaimer
International Seaways, Inc. 2 Disclaimer Forward - Looking Statements During the course of this presentation, the Company (International Seaways, Inc. (INSW)) may make forward - looking statements or provide forward - looking information. All statements other than statements of historical facts shou
Slide 3: INSW Overview
INSW Overview
Slide 4: Overview
International Seaways, Inc. Overview 4 1 Represents the number of vessels in each class as a percentage of the fleet, as of December 31, 2018. Does not include JV ve sse ls. Leading diversified tanker owner with significant presence in crude, product and gas sectors 48 vessel fleet with balanced mix
Slide 5: Sizable, Diverse Tanker Fleet
International Seaways, Inc. 5 Sizable, Diverse Tanker Fleet VLCC (330 meters) Suezmax (275 meters) Aframax/LR2 (250 meters) Panamax/LR1 (230 meters) MR (180 meters) Capacity Our Fleet 2 million barrels 300,000 DWT 13 1 million barrels 160,000 DWT 2 750,000 barrels 110,000 DWT 6 500,000 barrels 70,00
Slide 6: Stable cash flow from JVs, low breakeven, renewed fleet
International Seaways, Inc. • FSO and LNG JVs provide stable cash flow – long term infrastructure assets • Strategic foothold in offshore and LNG sectors • Cash flow averaging over $21 million annually • $21,100 Fleetwide Cash Breakeven Q3 - Q4 2018 • Effectively $18,700/day when factoring in JV con
Slide 7: Disciplined Capital Allocation: $600 million invested at bottom of cycle
International Seaways, Inc. 7 ▪ International Seaways Has Invested $600 million at the bottom of the cycle o Two Suezmax newbuilding resales purchased for $58 million each o 2010 - built VLCC purchased for $53 million o Six VLCCs built 2016 and 2015 purchased for $434 million total o Assets have mat
Slide 8: Conventional Tanker Fleet Development
International Seaways, Inc. 8 Conventional Tanker Fleet Development » Average fleet age reduced by nearly 3 years » Fleet deadweight increased by 11.5% » Effective capacity over lifetime increased by 45% 1 0 10 20 30 40 50 60 70 80 2016-12 2017-01 2017-02 2017-03 2017-04 2017-05 2017-06 2017-07 2017
Slide 9: Strong Financial Position – Balance Sheet
International Seaways, Inc. Strong Financial Position – Balance Sheet 9 Strong balance sheet protects INSW during low portions of tanker cycle Debt to Total Capitalization: 44.5% Net Loan to Asset Value 2 : 49.9% INSW Debt 1 Includes Equity Income from JVs 2 Conventional fleet and FSO JV: excludes v
Slide 10: Operating Leverage: Our Fleet Provides Tremendous Upside Exposure
International Seaways, Inc. 10 Note: 15 Year Average, 2015 Average and 2008 Average TCE are Clarksons Average rates for each ship class. EBITDA and annual EP S for each scenario are estimated. Operating Leverage Our Fleet Provides Tremendous Upside Exposure (Trough) (Mid cycle) (Recent peak) (Histor
Slide 11: 2019 Q1 & Q2 TCE Update
International Seaways, Inc. 2019 Q1 & Q2 TCE Update 1 11 1 As of April 23, 2019 2 Overall 2019 Q1 TCE Includes 445 Panamax time charter days at $12,300/day. Overall 2019 Q2 TCE includes 335 Panamax time cha rt er days booked at approximately $12,900/day . Excludes average pool fees of approx. $625/d
Slide 12: INSW Stock Price and Volume – 2019 YTD
International Seaways, Inc. 12 INSW Stock Price and Volume – 2019 YTD Approximate Sales by Former Affiliates/Insiders: 2H 2018 2019 YTD TOTAL 1.20 M 2.25M 3.45M
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