Slide 1: International Seaways Reports Second Quarter 2026 Results
NEWS RELEASE International Seaways Reports Second Quarter 2026 Results 2026-08-10 NEW YORK--(BUSINESS WIRE)-- International Seaways, Inc. (NYSE: INSW) (the “Company,” “Seaways,” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petro
Slide 2: Healthy Balance Sheet
Contracted four additional LR1 newbuildings for an aggregate price of $244 million, with deliveries expected in 2028. Remaining two LR1 newbuildings from the original six-vessel program expected to deliver in the third quarter of 2026. Upon delivery, all ten newbuild vessels are expected to trade in
Slide 3: Crude Tankers and Product Carriers
Adjusted EBITDA(1) for the second quarter was $345 million, compared to $102 million for the second quarter of 2025. Crude Tankers Shipping revenues for the Crude Tankers segment were $285 million for the second quarter of 2026, compared to $104 million for the second quarter of 2025. TCE revenues(1
Slide 4: Fleet Optimization Program and Time Charters
outperformed the market. During the second quarter, the Company took delivery of Seaways Cristobal, the fourth of six LR1 newbuildings under construction in Korea. The remaining two vessels are expected to deliver in the third quarter of 2026. The aggregate contract price for the six scrubber- tted,
Slide 5: Conference Call; About International Seaways, Inc.
CONFERENCE CALL The Company will host a conference call to discuss its second quarter 2026 results at 9:00 a.m. Eastern Time on Monday, August 10, 2026. To access the call, participants should dial (833) 461-5787 for domestic callers and (646) 884-3620 for international callers and entering 832 929
Slide 6: Consolidated Statements of Operations
Consolidated Statements of Operations ($ in thousands, except per share amounts) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Shipping Revenues: Pool revenues $ 255,525 $ 148,772 $ 504,023 $ 286,368 Time and bareboat charte
Slide 7: Liabilities and Equity
LIABILITIES AND EQUITY Current Liabilities: Accounts payable, accrued expenses and other current liabilities $ 91,231$ 69,921 Current portion of operating lease liabilities 1,334 3,182 Current installments of long-term debt 39,204 25,788 Total Current Liabilities 131,769 98,891 Long-term operating l
Slide 8: Fleet Information
excludes commercial pool fees/commissions averaging approximately $1,310 and $847 per day for the three months ended June 30, 2026 and 2025, respectively. Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 Spot Fixed Total Spot Fixed Total Crude Tankers VLCC Average TCE Rate $ 118,883
Slide 9: Reconciliation to Non-GAAP Financial Information
Total Operating Fleet 57 7 64 7,635,879 Newbuild Fleet LR1 6 - 6 446,400 Total Newbuild Fleet 6 - 6 446,400 Total Operating and Newbuild Fleet 63 7 70 8,082,279 (1) Includes bareboat charters, but excludes vessels chartered in where the duration of the charter was one year or less at inception. Reco
Slide 10: Free Cash Flow
our ongoing operating performance. EBITDA and Adjusted EBITDA do not represent, and should not be a substitute for, net income or cash ows from operations as determined in accordance with GAAP. Some of the limitations are: (i) EBITDA and Adjusted EBITDA do not re ect our cash expenditures, or future
Slide 11: Investor Relations & Media Contact
(1) The three months ended June 30 re ects current period balance on the face of the Consolidated Statement of Cash Flows, less the prior quarter’s balance on the face of the Consolidated Statement of Cash Flows. The captions have been adjusted for summary purposes; the complete list of captions are