International Seaways Inc Issues Statement in Response to Famatown Finance Limited
September 02, 2022 at 12:00 am EDT
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On September 2, 2022, International Seaways, Inc. issued a statement and expressed that it is singularly focused on delivering value to its shareholders, and the record earnings it recently announced are evidence that its strategy is yielding results. The Company stated that it engages regularly with its shareholders and, since Famatown disclosed its interest in the Company , the Company has been seeking to work with Famatown constructively. In addition, it remains firmly committed to acting in the best interests of it and all of its shareholders and building on its strong momentum.
International Seaways, Inc. is a tanker company engaged in providing energy transportation services for crude oil and petroleum products in international flag markets. The Company operates through two segments: Crude Tankers and Product Carriers. The Crude Tankers segment is made up of a fleet of VLCCs, Suezmaxes, and Aframaxes engaged in the worldwide transportation of crude oil. This segment also includes its Crude Tankers Lightering business through which it provides ship-to-ship (STS) lightering support services and full-service STS lightering to customers in the United States Gulf (USG), United States Pacific, Grand Bahama, and Panama regions. The Product Carriers segment consists of a fleet of MRs, LR1 product carriers, and an LR2 product carrier engaged in the worldwide transportation of refined petroleum products. It owns and operates a fleet of about 77 vessels, including 13 VLCCs, 13 Suezmaxes, five Aframaxes/LR2s, 11 LR1s, of which four are new buildings, and 35 MR tankers.
INTERNATIONAL SEAWAYS, INC. 
