International Seaways, Inc. · NYSE:INSW
International Seaways — Shareholder Meeting (June 2020)
8 slides from International Seaways's shareholder meeting presentation, Jun 22, 2020
Slide 1: Annual Meeting of Stockholders
1 International Seaways, Inc. Annual Meeting of Stockholders International Seaways, Inc. June 22, 2020
Slide 2: Disclaimer
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 should be considered forward-looking sta
Slide 3: Corporate and Financial Highlights
Corporate and Financial Highlights Executing on Capital Allocation Strategy o Completed refinancing, saving $25 million in annual interest o Instituted $0.06/share quarterly dividend o Share repurchases totaling $10 million made during quarter o Revolver fully repaid. $40 million available o Purch
Slide 4: Market Update – Oil Supply, Demand and Market Implications
Market Update – Oil Supply, Demand and Market Implications Contango Has Decreased Oil Demand o The Coronavirus (COVID-19) has negatively impacted oil demand. IEA currently forecasts reduced demand of 17.8 million b/d for Q2 of 2020 and 8.1 million b/d for 2020 as a whole Oil Supply o In March, O
Slide 5: Market Update – Ship Supply
Market Update – Ship Supply Historically Low Orderbook Orderbook Update • Orderbook remains historically low: 20 60% • VLCC 7.4% 50% 15 Million DWT • Suezmax 10.8% 40% • Aframax/LR2 9.5% 10 30% • Panamax/LR1 4.3% 20% 5 10% • MR 7.2% 0 0% • 31 VLCCs ordered in 2019; YTD 2020 only ten thus far Q2-2001
Slide 6: Strong Environmental Social & Governance Culture
Strong Environmental Social & Governance Culture • INSW is committed to implementing and advocating industry leading Environmental, Social and Governance practices Environmental • First shipping company to publish its CO2 emissions relative to the IMO 2050 trajectories • Commitment to minimizing ris
Slide 7: Strong Environmental Social & Governance Culture
Strong Environmental Social & Governance Culture Governance • Seven of nine members of Board of Directors are fully independent • Split non-Executive Chairman and CEO • Commitment to diversity exemplified by two female Directors, one of whom is CEO • Shareholder representation on Board • Board inclu
Slide 8: Summary
Summary Executing on Capital Allocation Strategy o Completed refinancing, saving $25 million in annual interest o Instituted $0.06/share quarterly dividend o Share repurchases totaling $10 million made during quarter o Revolver fully repaid. $40 million available o Purchased Seaways Guayaquil, an
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