• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI SuperconnectorNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI SuperconnectorNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Superconnector
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI superconnector for talent & startupsNEW
    Legal
    Terms of usePrivacy policyCookie policy

    International Seaways Responds to Seatankers Group

    5/30/23 3:30:00 PM ET
    $ASC
    $DHT
    $EURN
    $FRO
    Marine Transportation
    Consumer Discretionary
    Marine Transportation
    Consumer Discretionary
    Get the next $ASC alert in real time by email

    Reiterates Commitment to Delivering Shareholder Value

    Provides Important Context Regarding Engagement with Seatankers

    Recommends Shareholders Vote "FOR" All International Seaways Directors and All Other Proposals at Upcoming Annual Meeting

    International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW"), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today issued the following statement in response to the public letter released this morning by Famatown Finance Limited ("Seatankers").

    The INSW Board of Directors and management team are committed to delivering value to all INSW shareholders. To that end, we want to address the misleading statements made by Seatankers in its public letter today regarding the Company's performance, governance and history of engagement with Seatankers.

    In light of the Company's upcoming Annual Meeting, we also want to reiterate the Board's recommendation that shareholders vote "FOR" all of the Company's director nominees and protect the value of their investment by also voting "FOR" the ratification of the shareholder rights plan and the other proposals outlined in the Company's proxy materials.

    Here are the facts:

    • INSW has a track record of outperformance and delivering strong shareholder returns. Our Board and management team have been executing a balanced capital allocation strategy, which, among other things, has included:
      • A transformational merger in 2021 that added, at the time, 60 vessels to the fleet and gained scale in the MR class, which daily earnings have grown approximately 220% over the last twelve months when compared to the 10 year average and more than any other asset class;
      • Recapitalization of the balance sheet, including refinancing the Company's largest senior secured facility and repaying over $212 million in debt over the last twelve months, which have resulted in an estimated forward cash break even below $17,000 per day; and
      • A focus on returning capital to shareholders, including returning over $370 million since 2020 and nearly $190 million in 2023 to date.

    In large part due to the actions we have taken, INSW delivered record results in 2022, and our momentum has continued in 2023. Our total shareholder returns have outperformed peers over the last year and since our separation from Overseas Shipholding Group, Inc1 and with our increased scale, diverse and younger fleet and strong financial position, we are well-positioned to capture the upside of the favorable macro trends in the tanker market.

    • The Company's strong performance has been overseen by INSW's diverse, highly qualified and experienced Board. Our Board is composed of directors who bring track records of value creation, executive leadership experience in the energy and transportation sectors and M&A and capital allocation expertise to the oversight of our strategy and performance. We are committed to diversity as a Board and 40% of our Board is diverse.



      Notably, Seatankers is targeting – without explanation – two of the three women on the Company's Board, each of whom bring significant industry experience and expertise, including the Company's Chief Executive Officer who has been instrumental in driving the successful execution of our strategy (including in particular our value-enhancing merger with Diamond S), and another who served as Chief Accounting Officer and Company Secretary of Frontline Ltd and who served as a director of Frontline for over 15 years.



      Leading proxy advisors ISS and Glass Lewis have recommended in favor of each of the Company's director nominees at the Company's Annual Meeting.

    • We have engaged extensively with Seatankers over the last year to reach a constructive resolution. Since they acquired their stake last year, we have engaged with Seatankers, including more than ten in-person or virtual engagements, in an attempt to establish a constructive relationship and allow INSW to focus on executing our strategy and delivering strong performance. We have proposed reasonable settlement terms, including a draft cooperation agreement, the terms of which included Board representation, together with customary cooperation and standstill provisions that limit the unnecessary distraction of a proxy fight and protect the value of our other shareholders' investment from a hostile takeover by Seatankers at an inadequate price. While we made our best effort to engage, Seatankers chose not to respond to our last proposal and the letter published today is the first we have heard from them since October 2022.



      Given Seatankers' status as a competitor to the Company, we believe having a reasonable and customary standstill is critical to allow our other shareholders to realize the full value of their investments. Seatankers, however, refused to enter into any settlement that meaningfully restricted their ability to pursue proxy fights and hostile activity while on the Board. To deter abusive takeover tactics from Seatankers in the absence of a formal settlement agreement, we have maintained a shareholder rights plan, which we are submitting for shareholder ratification at our upcoming Annual Meeting.



      Both ISS and Glass Lewis have also recommended that shareholders vote to ratify the amended and restated shareholder rights plan.

    • Over the course of our engagement with Seatankers, we have monitored the disruptive and value-destructive actions by Seatankers' founder, John Fredriksen, in connection with the failed Frontline-Euronav transaction. The drawn-out public disputes involving Fredriksen's Frontline and Euronav, and actions such as Frontline's unilateral termination of their consolidation agreement, highlight the risks to shareholder value that could be realized by Seatanker's disruptive tactics. Our Board and management are committed to acting in the best interest of all shareholders and will continue to take actions to protect shareholder value, while continuing to deliver strong performance through focused execution and our balanced capital allocation strategy.



      The INSW Board and management team are open-minded with respect to all value creation opportunities and will continue to take actions that are in the best interest of the Company and all of its shareholders.

    International Seaways recommends shareholders vote "FOR" all of the proposals included in the Company's proxy materials, including for all of the Company's director nominees and the amended and restated shareholder rights plan, at upcoming Annual Meeting scheduled for June 6, 2023.

    About International Seaways, Inc.

    International Seaways, Inc. (NYSE:INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 76 vessels, including 13 VLCCs, 13 Suezmaxes, five Aframaxes/LR2s, eight LR1s and 37 MR tankers. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at https://www.intlseas.com.

    Forward-Looking Statements

    This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the U.S. Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to plans to issue dividends, the Company's prospects, including statements regarding vessel acquisitions, expected synergies, trends in the tanker markets, and possibilities of strategic alliances and investments. Forward-looking statements are based on the Company's current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for 2022 for the Company, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, and in similar sections of other filings made by the Company with the SEC from time to time. The Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Company with the SEC.

    Additional Information and Where to Find It

    This communication relates to the solicitation of proxies by the Company in connection with its upcoming 2023 Annual Meeting of Stockholders, to be held on June 6, 2023 (the "2023 Annual Meeting"). In connection with the solicitation of proxies for the 2023 Annual Meeting, the Company has filed with the SEC a Definitive Proxy Statement, dated April 24, 2023, together with a proxy card (the "2023 Proxy Statement"). This communication is not a substitute for the 2023 Proxy Statement or any other document that the Company may file with the SEC or send to its stockholders in connection with the 2023 Annual Meeting of Stockholders. BEFORE MAKING ANY VOTING OR INVESTMENT DECISIONS, INVESTORS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY ALL RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC, INCLUDING THE 2023 PROXY STATEMENT, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS THERETO WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY. These documents, including the 2023 Proxy Statement (and any amendments or supplements thereto) and other documents filed by the Company with the SEC, are available for no charge at the SEC's website at http://www.sec.gov and at the Company's investor relations website at https://www.intlseas.com/investor-relations/overview/default.aspx.

    Participants in the Solicitation of Proxies

    Under SEC rules, the Company and certain of its directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the Company's stockholders in connection with 2023 Annual Meeting. Information about the directors and executive officers of the Company and their ownership of the Company's common stock is set forth in the 2023 Proxy Statement, the Company's Annual Report on Form 10-K for the year ended December 31, 2022, and in other documents filed by the Company with the SEC. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the 2023 Proxy Statement. Investors should read the 2023 Proxy Statement carefully before making any voting or investment decisions. Free copies of the 2023 Proxy Statement and such other materials may be obtained as described in the preceding paragraph.

    1 Total shareholder return defined as compound total return, with dividends reinvested on the ex-date. Performance calculated as of 5/26/23. Performance Peer Group based on market cap weighted average of Ardmore Shipping Corporation (NYSE:ASC); DHT Holdings, Inc. (NYSE:DHT); Euronav NV (NYSE:EURN); Frontline LTD (NYSE:FRO); Scorpio Tankers Inc. (NYSE:STNG); Tsakos Energy Navigation Limited (NYSE:TNP); Teekay Tankers Ltd. (NYSE:TNK); and TORM plc (NYSE:TRMD).

    View source version on businesswire.com: https://www.businesswire.com/news/home/20230530005623/en/

    Get the next $ASC alert in real time by email

    Crush Q3 2025 with the Best AI Superconnector

    Stay ahead of the competition with Standout.work - your AI-powered talent-to-startup matching platform.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Standout.work

    Recent Analyst Ratings for
    $ASC
    $DHT
    $EURN
    $FRO

    CompanyDatePrice TargetRatingAnalyst
    Scorpio Tankers Inc.
    $STNG
    9/8/2025$60.00Neutral → Buy
    BofA Securities
    International Seaways Inc.
    $INSW
    8/6/2025$70.00 → $60.00Buy
    BTIG Research
    Frontline Plc
    $FRO
    12/12/2024$15.83Buy → Hold
    Kepler
    DHT Holdings Inc.
    $DHT
    12/12/2024$9.69Buy → Hold
    Kepler
    Teekay Tankers Ltd.
    $TNK
    11/13/2024$51.00 → $46.00Neutral → Underperform
    BofA Securities
    Teekay Tankers Ltd.
    $TNK
    11/1/2024Buy → Neutral
    BofA Securities
    Scorpio Tankers Inc.
    $STNG
    10/23/2024$90.00 → $65.00Buy → Hold
    Stifel
    International Seaways Inc.
    $INSW
    10/23/2024$69.00 → $56.00Buy → Hold
    Stifel
    More analyst ratings

    $ASC
    $DHT
    $EURN
    $FRO
    SEC Filings

    View All

    Amendment: SEC Form SCHEDULE 13D/A filed by TORM plc

    SCHEDULE 13D/A - TORM plc (0001655891) (Subject)

    9/29/25 5:20:36 PM ET
    $TRMD
    Marine Transportation
    Consumer Discretionary

    SEC Form 6-K filed by Scorpio Tankers Inc.

    6-K - Scorpio Tankers Inc. (0001483934) (Filer)

    9/29/25 4:16:12 PM ET
    $STNG
    Marine Transportation
    Consumer Discretionary

    International Seaways Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation

    8-K - International Seaways, Inc. (0001679049) (Filer)

    9/26/25 5:00:31 PM ET
    $INSW
    Marine Transportation
    Consumer Discretionary

    $ASC
    $DHT
    $EURN
    $FRO
    Press Releases

    Fastest customizable press release news feed in the world

    View All

    Container, Dry Bulk, Gas (LNG/LPG) & Tanker Shipping Industry Leaders Presenting at Capital Link's 17th Annual New York Maritime Forum – Tuesday, October 14, 2025, New York City

    NEW YORK, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Senior executives from leading Container, Dry Bulk, Gas (LNG/LPG) & Tankers shipping companies will present at the 17th Annual Capital Link New York Maritime Forum (NYMF) on Tuesday, October 14, 2025, at the Metropolitan Club in New York City. Organized in partnership with DNB and in cooperation with Nasdaq and NYSE, the Forum invites institutional investors, analysts, shipping executives and all those involved in the maritime industry to attend. The Forum features a series of panel discussions as well as 1x1 meetings between investors and executives from shipping companies. FORUM KEYNOTE ADDRESSES  Mr.  Randy Fowler, Co-Chief Executive Offi

    9/30/25 9:00:00 AM ET
    $ASC
    $CLCO
    $CTRM
    Marine Transportation
    Consumer Discretionary
    Natural Gas Distribution
    Utilities

    Scorpio Tankers Inc. Announces Agreements to Sell Two LR2 Product Tankers and an Update on its Outstanding Debt

    MONACO, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG) ("Scorpio Tankers," or the "Company") announced today that it has entered into agreements to sell two vessels and provided an update on its outstanding debt. Vessel Sales The Company has recently entered into agreements to sell two 2019 built scrubber-fitted LR2 product tankers, STI Lobelia and STI Lavender, for $61.2 million per vessel. The sales are expected to close within the fourth quarter of 2025. Emanuele Lauro, Chairman and Chief Executive Officer, commented "These sales offer the dual benefit of capitalizing on cyclically high secondhand vessel values while further strengthening our balance sheet

    9/29/25 6:45:35 AM ET
    $STNG
    Marine Transportation
    Consumer Discretionary

    TORM plc Long Term Incentive Program

    HELLERUP, Denmark, Sept. 23, 2025 /PRNewswire/ -- In accordance with TORM plc's ("TORM", Nasdaq ticker TRMD or TRMD A) Remuneration Policy adopted by the Annual General Meeting of TORM on 14 April 2021 and the authorization granted at the Annual General Meeting of TORM on 11 April 2024, the Board of Directors have extraordinarily decided to grant certain employees ("Participants to the Additional Retention Program") and Executive Director Jacob Meldgaard (together with the Participants to the Additional Retention Program the "Participants") restricted share units ("RSUs") in the form of restricted stock options. The Participants to the Additional Retention Program will be granted a total of

    9/23/25 11:31:00 AM ET
    $TRMD
    Marine Transportation
    Consumer Discretionary

    $ASC
    $DHT
    $EURN
    $FRO
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    View All

    SVP & CFO Pribor Jeffrey exercised 17,442 shares at a strike of $19.13 and covered exercise/tax liability with 12,249 shares, increasing direct ownership by 8% to 68,695 units (SEC Form 4)

    4 - International Seaways, Inc. (0001679049) (Issuer)

    9/25/25 6:40:12 PM ET
    $INSW
    Marine Transportation
    Consumer Discretionary

    President & CEO Zabrocky Lois K sold $98,159 worth of shares (2,000 units at $49.08), decreasing direct ownership by 1% to 188,771 units (SEC Form 4)

    4 - International Seaways, Inc. (0001679049) (Issuer)

    9/16/25 6:37:44 PM ET
    $INSW
    Marine Transportation
    Consumer Discretionary

    SVP & CFO Pribor Jeffrey sold $48,270 worth of shares (1,000 units at $48.27), decreasing direct ownership by 2% to 63,502 units (SEC Form 4)

    4 - International Seaways, Inc. (0001679049) (Issuer)

    9/16/25 6:08:52 PM ET
    $INSW
    Marine Transportation
    Consumer Discretionary

    $ASC
    $DHT
    $EURN
    $FRO
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    View All

    Scorpio Tankers upgraded by BofA Securities with a new price target

    BofA Securities upgraded Scorpio Tankers from Neutral to Buy and set a new price target of $60.00

    9/8/25 8:38:29 AM ET
    $STNG
    Marine Transportation
    Consumer Discretionary

    BTIG Research reiterated coverage on International Seaways with a new price target

    BTIG Research reiterated coverage of International Seaways with a rating of Buy and set a new price target of $60.00 from $70.00 previously

    8/6/25 10:18:56 AM ET
    $INSW
    Marine Transportation
    Consumer Discretionary

    Frontline downgraded by Kepler with a new price target

    Kepler downgraded Frontline from Buy to Hold and set a new price target of $15.83

    12/12/24 8:55:55 AM ET
    $FRO
    Marine Transportation
    Consumer Discretionary

    $ASC
    $DHT
    $EURN
    $FRO
    Financials

    Live finance-specific insights

    View All

    TORM plc Long Term Incentive Program

    HELLERUP, Denmark, Sept. 23, 2025 /PRNewswire/ -- In accordance with TORM plc's ("TORM", Nasdaq ticker TRMD or TRMD A) Remuneration Policy adopted by the Annual General Meeting of TORM on 14 April 2021 and the authorization granted at the Annual General Meeting of TORM on 11 April 2024, the Board of Directors have extraordinarily decided to grant certain employees ("Participants to the Additional Retention Program") and Executive Director Jacob Meldgaard (together with the Participants to the Additional Retention Program the "Participants") restricted share units ("RSUs") in the form of restricted stock options. The Participants to the Additional Retention Program will be granted a total of

    9/23/25 11:31:00 AM ET
    $TRMD
    Marine Transportation
    Consumer Discretionary

    International Seaways, Inc. Announces Successful Placement of 5-Year Senior Unsecured Bonds

    International Seaways, Inc. (NYSE:INSW) announces today that it has successfully placed $250 million of new senior unsecured bonds in the Nordic bond market. The new bonds are due to mature in September 2030 and will pay a fixed coupon of 7.125% per annum, payable semi-annually in arrears. An application will be made for the bonds to be listed on the Oslo Stock Exchange. The net proceeds from the bond issue are intended to be used for the refinancing of the Ocean Yield sale-and-leaseback agreement and for general corporate purposes. DNB Carnegie, Nordea Bank Abp, filial i Norge, Arctic Securities AS and Skandinaviska Enskilda Banken AB (publ) Oslofilialen ("SEB") acted as Joint Bookrunn

    9/9/25 4:30:00 PM ET
    $INSW
    Marine Transportation
    Consumer Discretionary

    International Seaways, Inc. Announces Fixed Income Investor Meetings

    International Seaways, Inc. (NYSE:INSW), through its Norwegian investment banks, will arrange a series of fixed income investor meetings commencing September 3, 2025. A five-year USD denominated senior unsecured bond issue may follow, subject to inter alia market conditions. The net proceeds from the contemplated bond issue are intended to be used for the refinancing of the Ocean Yield and sale-and-leaseback agreement and for general corporate purposes. The senior unsecured bonds, if issued, will be offered in the United States or its territories only to persons reasonably believed to be qualified institutional buyers as defined under Rule 144A under the Securities Act of 1933, as amend

    9/2/25 5:00:00 PM ET
    $INSW
    Marine Transportation
    Consumer Discretionary

    $ASC
    $DHT
    $EURN
    $FRO
    Leadership Updates

    Live Leadership Updates

    View All

    Announcement from TORM

    HELLERUP, Denmark, Sept. 3, 2025 /PRNewswire/ -- TORM plc ("TORM") (NASDAQ: TRMD) (NASDAQ: TRMD A) has today been informed of the announcement (the Announcement) by Hafnia Limited ("Hafnia"), confirming that Oaktree Capital Management, L.P. and its affiliates have accepted, subject to entering into a definitive agreement, to sell to Hafnia approximately 14.1 million A shares in TORM, representing approximately 14.45% of TORM's issued share capital (the Share Purchase). The A shares are priced at USD 22 per share for a total purchase price of USD 311,433,342. The Announcement notes that completion of the Share Purchase is subject to entry into a definitive agreement and the fulfilment of cus

    9/3/25 9:52:00 AM ET
    $TRMD
    Marine Transportation
    Consumer Discretionary

    TORM Acquires Full Ownership of ME Production to Accelerate Green Maritime Innovation

    HELLERUP, Denmark, June 3, 2025 /PRNewswire/ -- TORM (NASDAQ:TRMD) expands its environmental and technical capabilities by acquiring full ownership of ME Production, a Danish specialist in advanced marine and energy equipment. Longstanding Partnership Becomes Full Ownership TORM A/S has acquired the remaining 25% ownership stake in ME Production (MEP) from founder and CEO Jens Peter Faldt. MEP is a Danish industrial engineering company with a proven record in green maritime equipment. This expansion follows TORM's initial acquisition of a 75% ownership stake in 2022, and now TORM has full ownership of MEP. The two companies have maintained a close, productive collaboration since 2018, when

    6/3/25 10:00:00 AM ET
    $TRMD
    Marine Transportation
    Consumer Discretionary

    Torm PLC: Notice of and complete proposals for the Annual General Meeting 2025

    HELLERUP, Denmark, March 17, 2025 /PRNewswire/ -- Please find enclosed formal notice of, and full details of the business to be proposed at, the Annual General Meeting ("AGM") of TORM plc to be held at noon (London time) on Wednesday, 16 April 2025. Contacts:Christopher H. Boehringer, Chairman, tel.: +45 3917 9200Jacob Meldgaard, Chief Executive Officer and Executive Director, tel.: +45 3917 9200Christopher Everard, General Manager, tel.: +44 7920 494 853Kim Balle, Chief Financial Officer, tel.: +45 3917 9200 About TORM TORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of approximately 90 product tanker vessels with a strong commitment to safety, en

    3/17/25 8:25:00 AM ET
    $TRMD
    Marine Transportation
    Consumer Discretionary

    $ASC
    $DHT
    $EURN
    $FRO
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    View All

    Amendment: SEC Form SC 13G/A filed by Frontline Plc

    SC 13G/A - Frontline plc (0000913290) (Subject)

    11/13/24 12:23:05 PM ET
    $FRO
    Marine Transportation
    Consumer Discretionary

    Amendment: SEC Form SC 13G/A filed by International Seaways Inc.

    SC 13G/A - International Seaways, Inc. (0001679049) (Subject)

    11/12/24 3:53:03 PM ET
    $INSW
    Marine Transportation
    Consumer Discretionary

    Amendment: SEC Form SC 13G/A filed by DHT Holdings Inc.

    SC 13G/A - DHT Holdings, Inc. (0001331284) (Subject)

    11/12/24 9:55:15 AM ET
    $DHT
    Marine Transportation
    Consumer Discretionary