International Seaways Sells Five Vessels for $185M

By Chris Stiles • Thursday, January 29 12:29 • Permanent Link

International Seaways, Inc. (NYSE: INSW) has announced the sale of five vessels for approximately $185 million, net of commissions and fees, since the start of the year. These vessels, which consist of three MRS with an average age of 18 years and two VLCCs with an average of 15 years, are among the oldest in the fleet. The company expects to recognize gains from the vessel sales of approximately $65 million and close these transactions during the first quarter of 2026.

As of now, International Seaways owns and operates a fleet of 73 vessels, including 12 VLCCs, 13 Suezmaxes, five Aframaxes/LR2s, 11 LR1s (including four newbuildings), and 32 MR tankers.

These figures represent a significant change in the company's fleet composition and financial position. The sale of these older vessels and the expected gains from the transactions will likely impact the company's financial metrics and position it for potential future investments or strategic initiatives. As a result of these announcements, the company's shares have moved 1.06% on the market, and are now trading at a price of $56.37. For more information, read the company's full 8-K submission here.

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