International Seaways Continues Returning Cash to Shareholders With Repurchase of Shares

New York - 22 August 2022

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, announced today that in connection with its recently renewed $60.0 million share repurchase program, the Company has repurchased 687,740 shares of its common stock in open-market purchases in August, at an average price of $29.08 per share, for a total cost of approximately $20.0 million.

The shares repurchased will be retired. The Company has approximately $40.0 million available under the current $60.0 million share repurchase program.

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 78 vessels, including 13 VLCCs (including three newbuildings), 13 Suezmaxes, five Aframaxes/LR2s, eight LR1s and 39 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.

International Seaways, Inc. press release