NYSEEnergyOil & Gas Storage & TransportationS&P SmallCap 600
$98.02
+3.55 (+3.76%)
Close of Nov 06, 2026 · end-of-day data
INSW 8-K filings in 2025
Every material Form 8-K International Seaways filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
International Seaways reported third quarter 2025 net income of $71 million, or $1.42 per diluted share, down from $92 million, or $1.84 per share, a year earlier, and shipping revenues fell to $196 million from $225 million. The company attributed the decline mainly to lower TCE revenues from weaker spot earnings and fewer revenue days. The board also declared a combined $0.86 per share dividend, which shareholders of record on December 9, 2025 will receive on December 23, 2025.
Net income was $71 million, or $1.42 per diluted share, versus $92 million, or $1.84 per diluted share, in Q3 2024.
Adjusted net income, which excludes gains on vessel sales, was $57 million, or $1.15 per diluted share, versus $1.57 a year earlier.
Shipping revenues were $196 million versus $225 million; Adjusted EBITDA was $108 million versus $130 million.
Declared a combined dividend of $0.86 per share ($0.12 regular and $0.74 supplemental), payable December 23, 2025, to holders of record on December 9, 2025.
International Seaways and subsidiaries amended two credit facilities on October 7, 2025, permitting the Borrower and certain subsidiary guarantors to redomicile from the Marshall Islands or Liberia to Bermuda. The company expects the redomiciliation to finish by the end of the fourth quarter of 2025, and the parent company will remain organized under Marshall Islands law. The company estimates $3 million to $5 million in legal and administrative costs for the move.
Amendments dated October 7, 2025 cover the $500 Million RCF and the $160 Million RCF, with Nordea Bank Abp, New York Branch as agent
Vessel-owning entities and intermediate holding companies are expected to move domicile to Bermuda by end of Q4 2025
Estimated legal and administrative costs of $3 million to $5 million in aggregate
No other material changes to the terms of the Credit Facilities
International Seaways issued $250 million of 7.125% senior unsecured bonds due September 23, 2030, at 100% of face value. The company says it will use the proceeds to repurchase six VLCCs under an existing lease financing arrangement and for general corporate purposes, with purchase options to be exercised in November 2025. The bonds add $250 million of debt and come with financial covenants, including a minimum free liquidity level and a net indebtedness ratio cap.
Issued $250 million of 7.125% senior unsecured bonds on September 23, 2025, at an issue price of 100%
Interest is payable semi-annually on March 23 and September 23, starting March 23, 2026; maturity is September 23, 2030
Proceeds fund repurchase of six VLCCs under an existing lease financing arrangement and general corporate purposes
Covenants require free liquidity of the greater of $50 million and 5% of total indebtedness, and net indebtedness to total capitalization below 0.65 to 1.00
International Seaways and subsidiaries entered into an ECA credit facility with DNB Bank ASA on August 20, 2025, offering a 12-year term loan of up to $239.7 million and a revolving credit facility of up to $91.9 million. The facilities will partly finance six LR1 tanker newbuildings under construction at K Shipbuilding in Korea, and no amounts are currently drawn, with the first vessel expected to deliver later in the third quarter of 2025.
Term loan of up to $239.7 million over 12 years; revolving facility of up to $91.9 million
Portion of term loans insured by Korea Trade Insurance Corporation (K-Sure), up to $239.7 million, repaid in 24 semi-annual instalments
Interest at Term SOFR plus a 1.10% margin on K-SURE tranches and 1.45% on the commercial tranche
Covenants require minimum liquidity of the greater of $50 million and 5% of Consolidated Indebtedness, and a Maximum Leverage Ratio of no more than 0.65 to 1.00
International Seaways reported second quarter 2025 net income of $62 million, or $1.25 per diluted share, down from $145 million, or $2.91 per diluted share, a year earlier. Shipping revenues fell to $196 million from $257 million, and the company's board declared a combined $0.77 per share dividend, which shareholders would receive in September 2025.
Q2 2025 net income was $62 million, or $1.25 per diluted share, versus $145 million, or $2.91, in Q2 2024.
Shipping revenues were $196 million versus $257 million; adjusted EBITDA was $102 million versus $167 million.
On August 5, 2025, the board declared a combined $0.77 per share dividend, payable September 24, 2025 to holders of record on September 10, 2025.
International Seaways reported first quarter 2025 net income of $50 million, or $1.00 per diluted share, down from $144 million, or $2.92, a year earlier, as shipping revenues fell to $183 million from $274 million. Adjusted net income was $40 million, or $0.80 per diluted share, excluding a gain on vessel sales. The board also declared a combined dividend of $0.60 per share, payable June 26, 2025.
Shipping revenues were $183 million versus $274 million a year earlier; TCE revenues were $178 million versus $271 million.
Adjusted EBITDA was $91 million versus $191 million in the first quarter of 2024.
Declared a $0.60 per share dividend ($0.12 regular and $0.48 supplemental), payable June 26, 2025 to holders of record on June 12, 2025.
Total liquidity was $673 million as of March 31, 2025, including $133 million in cash.
On March 21, 2025, two International Seaways subsidiaries signed a joinder agreement to the company's $500 million revolving credit facility, agreeing to act as subsidiary guarantors and to pledge one MR tanker each as collateral. The vessels are substitution vessels that replace a collateral vessel sold earlier in the first quarter of 2025. The filing is a routine collateral update and gives no change to facility size or terms beyond the added guarantors and collateral.
Agreement dated March 21, 2025, between two subsidiaries and the $500 million revolving credit facility
Alpha Seaways MR Tanker Corporation and Delta Seaways MR Tanker Corporation each pledge one MR tanker as collateral
Vessels replace a collateral vessel sold and announced in the first quarter of 2025
Lender group led by Nordea Bank Abp, New York Branch, as administrative agent
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every International Seaways filing is on SEC EDGAR ↗. 8-K briefs of other companies →