International Seaways, Inc. (NYSE:INSW) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.

Proposed amendment to credit facility

International Seaways, Inc. ("INSW" or "the Company") is currently in the process of seeking an amendment (the "First Amendment") to its outstanding Credit Facility consisting of (i)a revolving credit facility of $50 million and (ii)a term loan of $500 million containing an accordion feature whereby the term loan may be increased up to an additional $50 million subject to certain conditions, dated as of June 22, 2017, among the Company, International Seaways Operating Corporation (the Administrative Borrower), certain of its subsidiaries, Jefferies Finance LLC and JP Morgan Chase Bank, N.A., as joint lead arrangers, UBS Securities LLC, as joint bookrunner, DNB Markets Inc., Fearnley Securities AS, Pareto Securities Inc. and Skandinaviska Enskilda Banken AB (Publ) as co-managers, and the other lenders party thereto. The First Amendment would, to the accordion feature under the Credit Facility, increase the outstanding term loan by an incremental $50 million. No other terms of the Credit Facility would be amended. The Company may decide not to proceed with the First Amendment depending on market conditions and other considerations.

Use of proceeds

The net proceeds from the First Amendment would be used for general corporate purposes, including to fund in part (together with cash on the Company's balance sheet and up to $50 million drawn on the Company's revolving credit facility) the previously-announced acquisition of two 2017-built Suezmax tankers from Hyundai Samho Heavy Industries for an aggregate purchase price of approximately $116 million. The first vessel is expected to be delivered on July 20, 2017, and the second vessel is expected to be delivered on or around July 26, 2017. Following acquisition, the Company expects to employ these two vessels in a leading Suezmax pool and for the vessels to be technically managed by V.Ships, the third-party technical manager for the existing INSW fleet.

General

INSW is furnishing the information set forth above to Item 7.01, "Regulation FD Disclosure." The information contained in this current report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. This current report (including any information included therein) shall not be deemed an admission as to the materiality of any information required to be disclosed solely by reason of Regulation FD.

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.