Q4 2025 International Seaways Inc Earnings Call Transcript

Feb 26, 2026 / 02:00 PM GMT

Release Date Price: MXN977

Transcript 10-K8-K

Key Points

Positve

International Seaways Inc (INSW) reported a net income of $128 million for Q4 2025, translating to $2.56 per diluted share.
The company declared its largest ever quarterly dividend of $2.15 per share, representing an 87% payout ratio of the adjusted net income.
INSW has a strong liquidity position with $724 million in total liquidity, including $170 million in cash and $560 million in undrawn revolver capacity.
The company successfully sold older vessels and acquired new high-spec vessels, enhancing its fleet's modernity and efficiency.
INSW's balance sheet is robust with a net loan to value below 13% and a spot cash break-even rate of less than $15,000 per day.

Negative

Fourth quarter vessel expenses were higher than expected due to timing issues related to stores and spares.
The geopolitical environment, including U.S.-Iran tensions and the Russia-Ukraine conflict, continues to pose risks and uncertainties.
There is a projected oversupply in the oil market for 2026, which could potentially impact tanker demand.
The company faces challenges from sanctioned vessels affecting the compliant fleet, which could impact operations.
Despite strong financials, the market structure remains backward, and absolute oil prices remain elevated, which could affect future profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

INSW.N - International Seaways Inc
Q4 2025 International Seaways Inc Earnings Call
Feb 26, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hello, everyone.

Thank you for attending today's International Seaways Inc. 4th quarter 2025 earnings conference call. My name is William and I will be your moderator today.

All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end.

If you would like to ask a question, you can do so by pressing 1 on your telephone keypad.

At this time, I would now like to pass the conference over to our host, James Small, general counsel with International Seaways. James, you may go ahead.

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Unidentified_2 [2]
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