International Seaways(INSW) - 2025 Q1 - Earnings Call Presentation

Financial Performance - Net income for Q1 2025 was $50 million, or $1.00 per share[10] - Adjusted net income for Q1 2025 was $40 million, or $0.80 per share[10] - Q2 2025 blended spot fixtures are 45% fixed at approximately $31,200 per day[10] - Total liquidity stands at $673 million[14] - Gross debt is $601 million with the earliest maturity in 2030[14] - Paid a combined dividend of $0.70 per share in March 2025[15] Fleet Optimization and Balance Sheet - Exchanged 2 VLCCs (14+ years old) and $3 million cash for 3 MRs (<10 years old)[18] - Net proceeds from 2 MR deliveries and 2 VLCC sales closed in Q1 2025 amounted to $50 million[18] - Net Loan to Value is 15%[14] - The company has 34 unencumbered vessels[14] Market Outlook - Orderbook relative to the size of the fleet is 14%[30]