International Seaways, Inc. · NYSE:INSW
International Seaways — Shareholder Meeting (June 2022)
9 slides from International Seaways's shareholder meeting presentation, Jun 2, 2022
Slide 1: Annual Meeting of Stockholders: Rules of Conduct & Agenda
International Seaways, Inc. Annual Meeting of Stockholders Rules of Conduct & Agenda June 2, 2022
Slide 2: Rules of Conduct
Rules of Conduct Welcome to our 2022 Annual Meeting. In fairness to all stockholders in attendance, please observe the following Rules of Conduct. 1. The Chairman of the Annual Meeting will conduct the meeting in accordance with the agenda for the meeting. 2. If a stockholder has a question during t
Slide 3: Agenda
Agenda 1. Welcome Remarks and Introduction of Directors and Management Team 2. Call to Order and Opening of Polls 3. Introduction of Items to be Presented to Stockholders A. Election of Directors B. Ratification of Appointment of Independent Registered Public Accountants C. Advisory Vote to Approve
Slide 4: Annual Meeting of Stockholders: Company Remarks
International Seaways, Inc. Annual Meeting of Stockholders Company Remarks June 2, 2022
Slide 5: 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 6: Highlights and Recent Developments
Highlights and Recent Developments Transformational Merger & Fleet Optimization Program Strong Balance Sheet Completed Diamond S Merger to become largest diversified US-listed Available liquidity of approximately $166 million at Mar-22 includes tanker company and on track to realize over $35 mil
Slide 7: Market Update: "Diesel"
Market Update: “Diesel” Tanker Demand Drivers ˄ Oil demand for 2022 is estimated to grow by around 3 million barrels per day (primarily 2H 2022) to about 100 million barrels per day ˄ Oil production increases largely 2H 2022 ramp-up. Growth particularly in the West, lead by US, Canada and Brazil. ˄
Slide 8: Market Update: "Grumpy Old Tankers"
Market Update: “Grumpy Old Tankers” Tanker Supply Drivers ˄ Average age of tanker fleet has grown to 11.8 years (from 8.3 years in April 2012) increasing potential recycle candidates ˄ Recycle values at historic highs but lack volumes ˅ Sanctioned oil trades serviced largely by older tonnage that wo
Slide 9: Investment Highlights
Investment Highlights • Transformed company from spin-off & approximately $400m market cap in 2016 through today into the top 3 US publicly traded tanker companies by DWT with $1bn in market cap Disciplined Capital • Acquired Diamond S Shipping in July 2021 Allocator • Returned nearly $100 million t
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