International Seaways Inc
intlseas.comWhat Do They Do?
Transports crude oil and petroleum products by tanker for oil companies and traders, refinery operators, and government entities.
10-K for FY2025, filed Feb 26, 2026
How Do They Make Money?
Customers pay to use tankers for spot voyages through commercial pools or for fixed daily-rate time and bareboat charters; charter income is spread over the hire period. Lightering and other services are charged as work is performed, with payment timing set by each contract.
10-K for FY2025, filed Feb 26, 2026Our ultimate customers, including those of the commercial pools in which we participate, include major independent and state-owned oil…View ↗
The majority of the Company’s contracts for pool revenues, time and bareboat charter revenues, and voyage charter revenues are accounted…View ↗
Lightering services provided by the Company’s Crude Tanker Lightering Business and voyage charter contracts that do not meet the definition…View ↗
We receive payments from customers based on the schedule established in our contracts. Contract assets relate to our conditional right to…View ↗
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10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by product or service ↗
$843.3M
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10-K for FY2025, filed Feb 26, 2026
$843.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Pool Revenue Leases
Recurring
10-K for FY2025, filed Feb 26, 2026 |
76%
FY2022: 90%
|
Pool Revenue Leases, FY2025
$641.8M Sources
|
Recurring |
|
Time and Bareboat Charter Leases
Recurring
10-K for FY2025, filed Feb 26, 2026 |
19%
FY2022: 3.8%
|
Time and Bareboat Charter Leases, FY2025
$157.6M Sources
|
Recurring |
|
Voyage charter revenues
Usage-based
|
5.2%
FY2022: 6.6%
|
Voyage charter revenues, FY2025
$43.9M Sources
|
Usage-based |
Who Are Their Customers?
Spot voyages are arranged through commercial pools; customers also charter vessels directly for set periods under time or bareboat charters.
10-K for FY2025, filed Feb 26, 2026Our ultimate customers, including those of the commercial pools in which we participate, include major independent and state-owned oil…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 37 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 26, 2026
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
Growing. Revenue grew 3.1x in 4 years, from $272.5M in FY2021 to $843.3M in FY2025, about 33% a year.
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