INSW - International Seaways: NAV Between Reach (Rating Downgrade)

2024-05-13 05:35:05 ET

Summary

• International Seaways is a large tanker company with a fleet of 79 vessels, including VLCCs, Suezmaxes, Aframaxes/LR2s, LR1s, and MR tankers.
• The company's stock price has increased by over 35%, and it's trading near NAV.
• INSW has been active in the S&P market, acquiring new MRs and divesting an older MR, but concerns arise over the use of stock for acquisitions.

International Seaways, Inc. (INSW) is one of the largest tanker companies providing transportation services for both crude oil and petroleum products. International Seaways owns and operates a fleet of 79 vessels, including 13 VLCCs, 13 Suezmaxes, five Aframaxes/LR2s, 13 LR1s (with six newbuildings), and 35 MR tankers....

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