International Seaways, Inc. operates through two primary segments: Crude Tankers and Product Carriers. The Crude Tankers segment utilizes a fleet of VLCCs, Suezmaxes, and Aframaxes for the worldwide transportation of unrefined oil, and also includes a lightering business that provides ship-to-ship transfer services in regions like the U.S. Gulf and Panama. The Product Carriers segment employs MR, LR1, and LR2 tankers to transport refined petroleum products globally. Formed as a spin-off from Overseas Shipholding Group in 2016, the company has grown its fleet through strategic acquisitions, including a 2021 merger with Diamond S Shipping. International Seaways balances its revenue streams by participating in commercial pools for spot market exposure while securing multi-year time charters for cash flow stability.
