International Seaways reported record second-quarter 2026 results, including adjusted net income of $295 million, or $5.91 per share, and declared its largest quarterly dividend of $5.05 per share. Adjusted EBITDA reached $345 million and free cash flow hit a record $261 million, while blended spot TCE rates were $79,000 per day, up from $27,500 a year earlier. The company also ordered four additional LR1 newbuildings for delivery in the second half of 2028, bringing its total LR1 order series to ten vessels, and noted that the Strait of Hormuz conflict has created one of the most significant disruptions to seaborne transportation in decades. Management highlighted nearly $1 billion in liquidity, net loan-to-value of about 6%, and a fleet-wide spot cash breakeven below $14,500 per day, with about 48% of third-quarter revenue days booked at a blended spot TCE of approximately $61,000 per day.
International Seaways IncRecord Q2 profit, dividend, and strong cash flow
