International Seaways reported record second quarter 2026 results, with net income surging to $295 million driven by elevated spot rates and a high-yielding dividend payout policy. The company capitalized on tight global vessel supply, resulting in its highest quarterly free cash flow and dividend declaration in history.
Key Highlights
- Consolidated TCE revenues reached $434.2 million, significantly exceeding the estimate of $368.2 million as average spot earnings increased by approximately $51,500 per day across the fleet.
- The company declared its largest quarterly dividend of $5.05 per share, continuing a payout ratio of at least 85% of adjusted net income for the third consecutive quarter.
- Liquidity remained robust at $935 million, supporting a fleet optimization program that includes four additional dual-fuel ready LR1 newbuildings contracted for $244 million.