International Seaways, Inc. (the “Company”) has commenced a refinancing process relating to the marketing of a new $550 million term loan facility. If the proposed refinancing were to take place, the proceeds of the term loan facility would be used to refinance the Company’s existing credit facility, to pay related fees, costs and expenses, and for general corporate purposes, including fleet renewal and growth. The Company may decide not to proceed with a refinancing depending on market conditions and other considerations, and the amount of any completed refinancing may differ from the amount set forth above.

About International Seaways, Inc. (NYSE:INSW)

International Seaways, Inc. and its subsidiaries own and operate a fleet of oceangoing vessels. The Company’s oceangoing vessels engage in the transportation of crude oil and petroleum products in the International Flag trades. The Company’s segments are International Crude Tankers and International Product Carriers. Its 55-vessel fleet consists of Ultra Large Crude Carrier (ULCC), Very Large Crude Carrier (VLCC), Aframax and Panamax crude tankers, as well as long range 1 (LR1), LR2 and medium range (MR) product carriers. Its International Crude Tankers segment is made up of a ULCC and a fleet of VLCCs, Aframaxes, and Panamaxes. Its International Product Carriers segment consists of a fleet of MRs, LR1s and an LR2 engaged in the transportation of crude and refined petroleum products. Through joint venture partnerships (the JVs), it has ownership interests in approximately four liquefied natural gas carriers and approximately two floating storage and offloading service vessels.

International Seaways, Inc. (NYSE:INSW) Recent Trading Information

International Seaways, Inc. (NYSE:INSW) closed its last trading session down -0.22 at 20.10 with 52,989 shares trading hands.