Tranche Update on International Seaways, Inc.'s Equity Buyback Plan announced on August 7, 2020.
November 08, 2022 at 05:16 pm EST
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From July 1, 2022 to September 30, 2022, the company has repurchased 687,740 shares, representing 1.38% for $20 million. With this, the company has completed the repurchase of 1,764,810 shares, representing 3.51% for $36.7 million under the buyback announced on August 7, 2020.
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. 
