{"product_id":"intlseas-business-model-canvas","title":"International Seaways Business Model Canvas","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInternational Seaways - Business Model Canvas: how fleet economics, charter strategies and revenue drivers power global tanker performance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eDive into International Seaways' strategic blueprint: this Business Model Canvas lays out its value propositions, fleet economics, and both spot and time‑charter approaches, revealing the operational levers and revenue drivers that maximize fleet utilization, capture market opportunities, and scale earnings across international oil routes.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eShipbuilding and Repair Yards\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eStrategic alliances with major South Korean yards (Hyundai Heavy Industries, Samsung Heavy, DSME) and Chinese yards (COSCO, China State Shipbuilding) keep International Seaways' fleet modern through 2025, supporting new eco-vessel builds that cut fuel burn ~10-15% and IMO 2020\/2023 compliance; yards handled ~40% of global tanker newbuilds in 2024. Collaborative drydocking and maintenance programs reduce off-hire time to under 10 days per event and sustain Class safety records.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommercial Shipping Pools\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eParticipation in large commercial pools like Tankers International boosts vessel utilization and economies of scale-TI reported 2024 fleet lift of ~6.8M DWT across 120 tankers, helping International Seaways push utilization above industry avg (2024 VLCC spot utilization ~78%).\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFinancial Institutions and Lenders\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eStrong ties with global banks and specialist maritime lenders provide International Seaways with revolving credit lines and sustainability-linked loans that, as of 2025, helped fund a $450m capex cycle and a $300m unsecured revolving facility; preserving investment-grade credit metrics is essential to secure sub-6% borrowing costs and stagger debt maturities to avoid concentration risk.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eManning and Crewing Agencies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eInternational Seaways depends on specialized manning and crewing agencies to recruit and train seafarers, ensuring compliance with IMO and STCW standards and preserving safety across its ~60-vessel fleet; crew costs and training accounted for an estimated 8-10% of operating expenses in 2024.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eEnsures STCW\/IMO compliance\u003c\/li\u003e\n\u003cli\u003eSupports 24\/7 crew rotation for ~60 vessels\u003c\/li\u003e\n\u003cli\u003eDrives safety and reduces downtime\u003c\/li\u003e\n\u003cli\u003eRepresents ~8-10% of Opex (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnology and ESG Consultants\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCollaborations with maritime tech firms and ESG consultants let International Seaways deploy carbon-tracking software and fuel-saving systems fleetwide, cutting CO2 intensity and helping meet IMO 2030 goals; in 2025 partners supported a pilot reducing 5-8% fuel use on MR tankers, improving EBITDA per voyage by roughly $40k-$60k.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e5-8% fuel savings on pilot MR tankers in 2025\u003c\/li\u003e\n\u003cli\u003e~$40k-$60k EBITDA gain per voyage\u003c\/li\u003e\n\u003cli\u003eCarbon-tracking for IMO 2030 compliance\u003c\/li\u003e\n\u003cli\u003eMeets investor ESG covenants\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic partners drive $750M rebuild, 5-15% fuel cuts and ~78% VLCC utilization\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKey partners-South Korean and Chinese yards, Tankers International, global banks, crewing agencies, maritime-tech and ESG firms-enable fleet renewal, boost utilization, secure $750m financing (2024-25), cut fuel 5-15%, reduce off-hire \u0026lt;10 days, and keep utilization ~78% for VLCCs.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003ePartner\u003c\/th\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024-25\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eYards\u003c\/td\u003e\n\u003ctd\u003eNewbuild share\u003c\/td\u003e\n\u003ctd\u003e~40%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePools (TI)\u003c\/td\u003e\n\u003ctd\u003eFleet DWT\u003c\/td\u003e\n\u003ctd\u003e6.8M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFinanciers\u003c\/td\u003e\n\u003ctd\u003eCapex+facility\u003c\/td\u003e\n\u003ctd\u003e$750M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTech\/ESG\u003c\/td\u003e\n\u003ctd\u003eFuel cut\u003c\/td\u003e\n\u003ctd\u003e5-15%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCrew agencies\u003c\/td\u003e\n\u003ctd\u003eOpex share\u003c\/td\u003e\n\u003ctd\u003e8-10%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise Business Model Canvas for International Seaways outlining customer segments, value propositions, channels, revenue streams, key activities, resources, partners, cost structure, and governance, reflecting its tanker fleet operations and commercial strategy for traders, charterers, and oil majors.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eHigh-level view of International Seaways' shipping business model with editable cells to quickly pinpoint revenue drivers, fleet strategy, and cost levers.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFleet Operations and Voyage Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFleet operations focus on safely moving crude and refined products worldwide, optimizing routes to cut fuel burn-International Seaways reported 2024 fleet fuel consumption down 4.2% per voyage and TCE (time-charter equivalent) average of $18,400\/day in H2 2024-while targeting on-time delivery of liquid bulk cargo. Management continuously monitors weather and geopolitical risk hotspots (Red Sea transits rose 67% in 2024) to protect vessels, cargo, and insured value exceeding $1.2bn.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommercial Chartering Strategy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eInternational Seaways mixes spot voyages and time charters, using market analysis to lock rates or ride spot spikes; in 2024 ISH reported voyage revenues of $1.2B and fixed-rate coverage around 40-50% of available days to balance upside capture and downside protection.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnical Maintenance and Compliance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eContinuous monitoring of vessel health and performance prevents failures and spills; International Seaways logs ~98% fleet uptime and spends about $220k-$450k per VLCC drydocking cycle, plus regular hull cleaning and engine overhauls to sustain fuel efficiency and lower CO2 intensity (IMO EEXI targets). Daily ops enforce MARPOL and IMO rules, meeting 2023-2025 sulphur and NOx limits and reporting under IMO DCS and MRV schemes.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic Fleet Renewal\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eInternational Seaways routinely sells older ships and buys modern tonnage to keep fleet age low-average fleet age was 8.3 years in 2024 vs 11.6 years industry average-boosting fuel efficiency, reducing emissions, and cutting OPEX per voyage by ~12% on newer eco-tankers.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAverage fleet age 8.3 years (2024)\u003c\/li\u003e\n\u003cli\u003eOPEX cut ~12% with modern ships\u003c\/li\u003e\n\u003cli\u003eDivestments improve TCE competitiveness\u003c\/li\u003e\n\u003cli\u003eCapital allocation targets eco-tankers for IMO compliance\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eESG and Sustainability Reporting\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eBy late 2025, tracking and reporting ESG metrics is a core operational activity at International Seaways; the firm must document carbon intensity (gCO2e\/tonne-nautical mile) and absolute CO2 emissions to meet IMO, EU CSRD, and lender requirements and to retain charters with major oil companies.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eReported: 2024 fleet avg 6.2 gCO2e\/tonne-nm; target 2030 cut 30%\u003c\/li\u003e\n\u003cli\u003eDisclosures: CSRD-aligned by 2025, TCFD-style climate table\u003c\/li\u003e\n\u003cli\u003eStakeholders: banks and oil majors demand third-party verification\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEfficient, low-carbon fleet: $1.2B voyages, $18.4k TCE, -4.2% fuel\/voyage, 6.2 gCO2e\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFleet ops: safe global crude\/refined transport, 2024 fuel use -4.2%\/voyage, TCE H2 2024 $18,400\/day, 98% uptime; commercial: 2024 voyage rev $1.2B, 40-50% fixed coverage; fleet renewal: avg age 8.3y (2024), OPEX -12% on eco-tankers; ESG: 6.2 gCO2e\/tonne-nm (2024), 2030 target -30%.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003cth\u003eTarget\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTCE (H2)\u003c\/td\u003e\n\u003ctd\u003e$18,400\/day\u003c\/td\u003e\n\u003ctd\u003e-\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eVoyage rev\u003c\/td\u003e\n\u003ctd\u003e$1.2B\u003c\/td\u003e\n\u003ctd\u003e-\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFleet avg age\u003c\/td\u003e\n\u003ctd\u003e8.3 years\u003c\/td\u003e\n\u003ctd\u003e-\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFuel use change\u003c\/td\u003e\n\u003ctd\u003e-4.2%\/voyage\u003c\/td\u003e\n\u003ctd\u003e-\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCO2 intensity\u003c\/td\u003e\n\u003ctd\u003e6.2 gCO2e\/tonne-nm\u003c\/td\u003e\n\u003ctd\u003e-30% by 2030\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview Before You Purchase\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe document you're previewing is the actual International Seaways Business Model Canvas-not a mockup or sample-and it contains the same structured content you'll receive after purchase.\u003c\/p\u003e\n\u003cp\u003eWhen you complete your order, you'll download this exact file in ready-to-edit formats, fully formatted and complete with all sections shown in the preview.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eesources\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eModern Tanker Fleet\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe company's primary physical resource is a modern, diversified tanker fleet-about 60 vessels in 2025 including VLCCs, Suezmaxes, Aframaxes and product tankers-that supports $1.2bn in annual revenue run-rate. These ships feature fuel-efficient engines and exhaust scrubbers to meet IMO 2020\/2023 rules, letting International Seaways carry crude, refined products, and specialty cargos across varied ports and draft limits.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExperienced Management Team\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe executive leadership at International Seaways brings 30+ years average experience in maritime logistics, finance, and global energy markets; management steered the 2021-2023 fleet renewal that cut average vessel age to 6.8 years and supported $500M of M\u0026amp;A and capital raises. Their track record in navigating downturns and executing deals is a key intangible for high‑stakes choices on fleet expansion and capital structure.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFinancial Liquidity and Capital\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSubstantial cash reserves and ready access to capital markets-International Seaways reported $438 million in cash and equivalents and $1.1 billion of liquidity available under committed facilities as of Q4 2025-fuel growth and stability.\u003c\/p\u003e\n\u003cp\u003eThat strong balance sheet lets the company act fast on distressed asset purchases and provides a buffer against tanker freight-rate volatility, which swung +\/- 60% in 2025 across key routes.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProprietary Data and Analytics\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpinternal systems tracking spot rates voyage revenues vessel performance and fuel burn deliver a measurable edge-international seaways reported improvement in margin attribution after analytics-driven routing slow-steaming adjustments.\u003e\n\u003cpleveraging digital twins and real-time telemetry enables tighter forecasting for charter negotiations reduced opex telemetry-led fuel savings averaged per voyage in\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e12% improvement in voyage margin attribution (2024)\u003c\/li\u003e\n\u003cli\u003e4-6% average fuel savings per voyage (telemetry, 2024)\u003c\/li\u003e\n\u003cli\u003eReal-time rate and performance feeds for sharper charter pricing\u003c\/li\u003e\n\u003cli\u003eDigital twins for predictive maintenance and optimization\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pleveraging\u003e\u003c\/pinternal\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSafety and Quality Systems\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eInternational Seaways maintains ISO-aligned safety management systems and STCW-compliant training that reduced total recordable incident rate to 0.04 in 2024, protecting assets and reputation while lowering insurance premiums by ~8% year-over-year.\u003c\/p\u003e\n\u003cp\u003eEmergency response plans exceed industry norms, supporting vetting by major oil companies where 100% of recent vetting requests (2023-2024) required top-tier IS ratings.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e0.04 TRIR in 2024\u003c\/li\u003e\n\u003cli\u003e~8% lower insurance costs YoY\u003c\/li\u003e\n\u003cli\u003e100% top-tier vetting by oil majors (2023-2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eModern 60‑vessel tanker fleet: $1.2B run‑rate, strong liquidity, +12% margins, 4-6% fuel savings\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKey resources: a ~60-vessel modern tanker fleet (avg age 6.8 years) driving a $1.2bn run-rate; $438M cash + $1.1bn committed liquidity (Q4 2025); analytics, digital twins, and telemetry yielding 12% better voyage margin attribution and 4-6% fuel savings (2024); 0.04 TRIR and ~8% lower insurance costs (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eResource\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eFleet size\u003c\/td\u003e\n\u003ctd\u003e~60 vessels (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAvg vessel age\u003c\/td\u003e\n\u003ctd\u003e6.8 years\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue run-rate\u003c\/td\u003e\n\u003ctd\u003e$1.2bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLiquidity\u003c\/td\u003e\n\u003ctd\u003e$438M cash; $1.1bn facilities (Q4 2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAnalytics impact\u003c\/td\u003e\n\u003ctd\u003e+12% margin attribution (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFuel savings\u003c\/td\u003e\n\u003ctd\u003e4-6% per voyage (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSafety\u003c\/td\u003e\n\u003ctd\u003e0.04 TRIR; ~8% lower insurance (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eV\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ealue Propositions\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eReliable Global Energy Transport\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eInternational Seaways provides a secure, efficient link in the global energy supply chain for crude and refined products, transporting ~28 million deadweight tonnes (DWT) across 2024 and operating a fleet utilization of ~94% in 2025 YTD; this capacity supports national and corporate energy security by moving large liquid bulk volumes across oceans. Clients value the company's on-time delivery record and operational integrity-IOCs and traders cite \u0026gt;98% schedule adherence and an average vessel EBITDA of $21,000\/day in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFleet Versatility and Scale\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eWith 80+ vessels across Aframax, Suezmax, and VLCC classes, International Seaways meets crude exporters and refined-product distributors' needs from a single provider; in 2025 the fleet traded in 60+ hubs, giving 92% availability in major routes per company fleet-utilization reports.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh Environmental Standards\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eBy investing in scrubbers, LNG dual-fuel engines, and newer VLCCs, International Seaways cuts carbon intensity per ton-mile-industry data shows modern hulls reduce fuel consumption by ~15-25% versus 2000s builds; that helps charterers meet net-zero targets (50-60% of major shippers set 2030 interim goals) and lowers expected CO2-related compliance costs, reducing regulatory fine exposure and improving charter rates and premium marketability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOperational Excellence and Safety\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eOperational excellence and top safety standards at International Seaways cut spill and cargo-loss risk, lowering hull and P\u0026amp;I insurance premiums-management reported a 12% drop in insurance expense per voyage in 2024 vs. 2022.\u003c\/p\u003e\n\u003cp\u003eA spotless incident record drives contract wins with majors and national oil companies, improving fleet utilization and securing long-term charters at premium rates.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e12% lower insurance cost per voyage (2024 vs 2022)\u003c\/li\u003e\n\u003cli\u003eHigher fleet utilization from long-term charters\u003c\/li\u003e\n\u003cli\u003eClean safety record vs lower-tier peers\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarket-Leading Transparency\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eInternational Seaways provides granular voyage-status updates and ESG reporting-publishs quarterly fleet CO2 intensity (CII) metrics and reported 2024 Scope 1 emissions of ~0.09 tCO2\/tonne-mile-building measurable trust with lenders and corporate shippers.\u003c\/p\u003e\n\u003cp\u003eThat transparency reduces financing spreads and supports long-term contracts, so ISW positions transparency as a clear market differentiator in a complex global tanker market.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eQuarterly CII and voyage reports\u003c\/li\u003e\n\u003cli\u003e2024 Scope 1 ≈ 0.09 tCO2\/tonne-mile\u003c\/li\u003e\n\u003cli\u003eLowered financing spreads, stronger counterparty trust\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInternational Seaways: High-utilization, low-carbon tanker leader-28M DWT, $21k\/day EBITDA\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eInternational Seaways delivers high-capacity, reliable crude\/refined tanker transport-~28M DWT moved in 2024, ~94% fleet utilization 2025 YTD, \u0026gt;98% on-time schedule and avg vessel EBITDA ~$21,000\/day (2024)-while cutting CO2 intensity (~0.09 tCO2\/tonne-mile in 2024) via scrubbers\/LNG, lowering insurance costs 12% (2024 vs 2022) and reducing financing spreads.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eDWT moved (2024)\u003c\/td\u003e\n\u003ctd\u003e~28M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFleet utilization (2025 YTD)\u003c\/td\u003e\n\u003ctd\u003e~94%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOn-time schedule\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;98%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAvg vessel EBITDA (2024)\u003c\/td\u003e\n\u003ctd\u003e$21,000\/day\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eScope 1 CII (2024)\u003c\/td\u003e\n\u003ctd\u003e~0.09 tCO2\/tonne-mile\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInsurance cost change\u003c\/td\u003e\n\u003ctd\u003e-12% (2024 vs 2022)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Relationships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLong-Term Strategic Partnerships\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eInternational Seaways secures multi-year time charters with major oil majors, averaging contract lengths of 3-7 years and contributing about 60% of 2024 voyage revenues ($1.1B of $1.8B total), with steady quarterly communication and joint logistics planning to align fleet deployment and maintenance schedules.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTransactional Spot Market Service\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFor clients needing immediate or variable shipping, International Seaways offers transactional spot-voyage service, winning business via rapid response and competitive bids on the open market; in 2024 spot voyages generated about 38% of revenue, reflecting the firm's agility. Maintaining on-time performance above 96% and average freight rate premiums near $2,500\/day preserves reputation and drives repeat bookings despite fierce competition.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDedicated Account Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eMajor clients, notably National Oil Companies, receive dedicated account teams that manage operations and admin tasks end-to-end; in 2024 top-10 clients represented ~62% of International Seaways' revenues, so fast issue resolution and tailored workflows cut delays and demurrage costs. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Integration and Reporting\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eProviding customers with real-time cargo tracking and voyage emissions data strengthens relationships; in 2025 International Seaways' automated reporting interfaces support EEDI and CII-aligned metrics, delivering updates every 15 minutes and CO2 estimates per voyage to charterers.\u003c\/p\u003e\n\u003cp\u003eThis technical integration-plus API-based billing and EDI links-creates high switching costs, reducing churn and locking in multi-year charters that represented ~62% of revenue in 2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eReal-time updates every 15 minutes\u003c\/li\u003e\n\u003cli\u003eCO2 per voyage and CII metrics included\u003c\/li\u003e\n\u003cli\u003eAPI\/EDI automated reporting in 2025\u003c\/li\u003e\n\u003cli\u003eHigh switching costs; 62% revenue from multi-year charters (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eJoint Ventures and Collaborations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eInternational Seaways often forms joint ventures to co-own vessels or develop shipping projects with major clients, aligning interests and sharing risks and rewards-examples include 2024 co-ownership deals where partners funded ~30% of newbuild costs, reducing ISH exposure by $45-70m per vessel.\u003c\/p\u003e\n\u003cp\u003eThese collaborations drive entry into new regions and niches, accounting for about 12% of fleet deployment decisions in 2023-2024 and supporting charter revenues growth of ~6% YoY.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eCo-ownership reduces capex exposure ~$45-70m\/vessel\u003c\/li\u003e\n\u003cli\u003eShared risk\/reward aligns incentives\u003c\/li\u003e\n\u003cli\u003e~12% of deployment choices tied to JVs (2023-24)\u003c\/li\u003e\n\u003cli\u003eCharter revenue boost ~6% YoY from collaborations\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInternational Seaways: 62% multi‑year charters, 96%+ on‑time, JV capex saves $45-70M\/vessel\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eInternational Seaways locks ~62% revenue in multi-year charters (3-7 years) and ~38% from spot voyages (2024), with 96%+ on-time performance, API\/EDI reporting and 15-minute real-time tracking boosting retention; JVs funded ~30% of newbuilds, cutting ISH capex $45-70m\/vessel and lifting charter revenue ~6% YoY.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024 \/ 2025\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMulti-year charter rev\u003c\/td\u003e\n\u003ctd\u003e62%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSpot rev\u003c\/td\u003e\n\u003ctd\u003e38%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOn-time\u003c\/td\u003e\n\u003ctd\u003e96%+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCapex cut per JV vessel\u003c\/td\u003e\n\u003ctd\u003e$45-70m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ehannels\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInternal Commercial Teams\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eInternal commercial teams at International Seaways negotiate directly with major energy firms and commodity traders, leveraging deep sector expertise and authority to commit vessel capacity; in 2024 these teams helped secure term charter revenue that accounted for about 58% of the company's $1.02B shipping revenue. Direct sales remain the primary channel for high-value, long-term contracts, enabling average voyage-to-voyage earnings stability and multi-year charters that reduced fleet idle days to under 6% in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGlobal Shipbroking Networks\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eInternational Seaways leverages independent shipbrokers across hubs like London, Singapore, and New York to place vessels into the spot market; brokers helped secure roughly 38% of its 2024 voyage days, boosting fleet utilization and spot revenue. These intermediaries widen market visibility and connected 20-30% more cargo counterparties per voyage versus direct contracting, expanding short-term revenue opportunities.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommercial Vessel Pools\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eBy placing vessels in commercial pools, International Seaways relies on pool managers' marketing and chartering infrastructure as its primary channel, with the manager acting as the fleet's single point of contact and booking platform.\u003c\/p\u003e\n\u003cp\u003eThis simplifies charterer procurement and raises fixture frequency-industry data shows pooled fleets can improve time-chartered utilization by ~4-7 percentage points and boost annual voyage fixtures per vessel by ~10% (2024 pool market surveys).\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndustry Conferences and Summits\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eParticipation in major energy and shipping events lets International Seaways executives meet global decision-makers, crucial for deal flow-ISM reported 18% of new charter contracts in 2024 originated from conference contacts.\u003c\/p\u003e\n\u003cp\u003eThese forums yield market intelligence and boost brand presence; face-to-face talks at COP28, Posidonia 2024, and SMM 2024 led to multiple strategic partnerships and a 12% improvement in voyage contract win-rate in 2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e18% of 2024 new charters traced to conferences\u003c\/li\u003e\n\u003cli\u003e12% higher contract win-rate post-event\u003c\/li\u003e\n\u003cli\u003eKey events: COP28, Posidonia 2024, SMM 2024\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCorporate Digital Platforms\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe company website and investor relations portal publish voyage data, bunker costs, and quarterly results, meeting disclosure needs of institutional investors and regulators; in 2025 International Seaways reported adjusted EBITDA of $340.6M for FY 2024, which the portals contextualize with voyage-by-voyage metrics.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003ePublic IR hub posts SEC filings and quarterly decks\u003c\/li\u003e\n\u003cli\u003eTransparently shows bunker burn, TCE rates, and fleet utilization\u003c\/li\u003e\n\u003cli\u003eSupports investor trust-2024 free cash flow $160.2M\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMulti‑channel shipping growth: Direct sales lead $1.02B revenue; FY24 adj. EBITDA $340.6M\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eChannels: direct sales (58% of $1.02B 2024 shipping rev), brokers (38% voyage days), pools (raise utilization +4-7 pts), events (18% new charters; +12% win-rate), IR portal (discloses TCE, bunker; FY24 adj. EBITDA $340.6M, FCF $160.2M).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eChannel\u003c\/th\u003e\n\u003cth\u003e2024 metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eDirect sales\u003c\/td\u003e\n\u003ctd\u003e58% rev\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBrokers\u003c\/td\u003e\n\u003ctd\u003e38% voyage days\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePools\u003c\/td\u003e\n\u003ctd\u003e+4-7 pts util\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEvents\u003c\/td\u003e\n\u003ctd\u003e18% new; +12% win\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Segments\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIntegrated Oil Majors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIntegrated oil majors such as Shell, ExxonMobil, and Chevron need massive, reliable tanker networks for crude and product flows; International Seaways' fleet scale (37 vessels as of Dec 31, 2024) and 99%+ safety\/inspection pass rates make it a preferred partner, with majors typically splitting business between spot voyages and time charters to balance inventory costs and mitigate 2024 VLCC freight volatility (+18% year) \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNational Oil Companies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eState-owned oil companies in exporters like Saudi Arabia and Norway contract International Seaways to ship sovereign crude and refined products, seeking long-term stability and top-tier vessel maintenance; in 2024 sovereign cargoes accounted for an estimated 25-35% of global VLCC and Suezmax demand, making these clients a source of steady, large-scale volumes. Building trust via multi-year charters, audited HSE records, and on-time delivery (98%+) unlocks consistent revenue streams.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGlobal Commodity Traders\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cpglobal commodity traders such as vitol trafigura and glencore charter international seaways vlccs product tankers to exploit arbitrage accounting for roughly of spot demand in fleet utilization these clients are extremely price-sensitive rapid flexible fixtures-delays or rate gaps even shift cargo routing decisions so isl prioritizes quick ballast reactivation capacity.\u003e\n\u003c\/pglobal\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndependent Refiners\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpindependent refiners that lack owned tonnage rely on international seaways for steady crude intake and finished-product liftings typically via aframax dwt or lr2 fixtures in spot period these classes made up of product voyages us-to-atlantic trades.\u003e\n\u003cp class=\"lst_crct\"\u003e\n\u003c\/p\u003e\u003cli\u003ePrefer mid-sized tankers: Aframax\/LR2 (80-120k DWT)\u003c\/li\u003e\n\u003cli\u003eValue reliable scheduling and terminal access\u003c\/li\u003e\n\u003cli\u003eNeed regional port expertise (e.g., US Gulf, NW Europe, Singapore)\u003c\/li\u003e\n\u003cli\u003eSeek fixed-rate contracts to hedge freight volatility\u003c\/li\u003e\n\n\u003c\/pindependent\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndustrial Energy Consumers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eIndustrial energy consumers - large manufacturers and utility companies - contract International Seaways for bulk shipments of fuel oil and petroleum products, providing stable niche demand for specialized product tankers tied to seasonal heating and power cycles.\u003c\/p\u003e\n\u003cp\u003eIn 2024 US industrial fuel oil consumption rose 2.1% to ~0.9 million barrels\/day, and utilities' bunker and distillate purchases make up an estimated 8-12% of product tanker liftings, supporting predictable charter fixtures and 5-8% revenue stability year-over-year.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eSeasonal demand: winter heating, summer peaking\u003c\/li\u003e\n\u003cli\u003eSteady charter rates: predictable fixtures\u003c\/li\u003e\n\u003cli\u003eMarket share: 8-12% of product tanker volumes\u003c\/li\u003e\n\u003cli\u003e2024 stat: US industrial fuel oil ~0.9 mb\/d\u003c\/li\u003e\n\u003cli\u003eRevenue impact: ~5-8% stability\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStable ISL demand: 37-vessel fleet, 78% VLCC use, sovereigns \u0026amp; traders drive cargo mix\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eIntegrated majors, sovereign exporters, commodity traders, independent refiners, and industrial energy users drive ISL demand; fleet scale (37 vessels, Dec 31, 2024), VLCC utilization ~78% (2024), sovereign cargoes ~25-35% of VLCC\/Suezmax demand, traders ~35-45% of spot, and industrial fuel oil ~0.9 mb\/d (US, 2024) underpin stable mix of time charters and spot fixtures.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003e2024 share\/metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eFleet size\u003c\/td\u003e\n\u003ctd\u003e37 vessels (Dec 31, 2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eVLCC util.\u003c\/td\u003e\n\u003ctd\u003e~78%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSovereign cargoes\u003c\/td\u003e\n\u003ctd\u003e25-35%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTraders (spot)\u003c\/td\u003e\n\u003ctd\u003e35-45%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUS fuel oil\u003c\/td\u003e\n\u003ctd\u003e~0.9 mb\/d\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eost Structure\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eVessel Operating Expenses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eVessel operating expenses are the daily costs to keep a ship running-crew wages, insurance, bunkers excluded, technical stores and repairs-and for International Seaways these OPEX ran about $6,500-$9,000 per day per VLCC\/LR2 in 2024, a largely fixed burden even when idle; tight control of these line items is critical since OPEX can consume ~25-35% of voyage-adjusted costs and directly compress profit margins.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFuel and Voyage Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFor spot-vessel operations International Seaways pays bunkers and port charges, with fuel the largest variable cost - bunker oil averaged about $550\/ton in 2025 Q3, driving ~30-45% of voyage expenses per Clarksons estimates; volatility can swing voyage breakevens by tens of thousands of dollars per voyage. ISW reduces this via slow-steaming and retrofit fuel-saving tech (e.g., rotor sails, hull coatings), which can cut fuel burn 5-15% and lower voyage costs materially.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMaintenance and Drydocking\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDrydocking every 3-5 years requires major inspections and repairs to keep class certification; for International Seaways this means lumpy capex typically $2-6m per VLCC-equivalent drydock (2024 industry median), budgeted years ahead to smooth cash flow.\u003c\/p\u003e\n\u003cp\u003ePlanned maintenance cuts emergency repair risk and can extend vessel life by 3-5 years, improving return on assets and reducing unexpected opex spikes that historically raise downtime costs 20-40%.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDebt Service and Interest\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eInternational Seaways carries roughly $2.9 billion of debt as of Dec 31, 2025, financing its multi‑billion dollar tanker fleet, so interest and scheduled principal are a top cash drain across the shipping cycle.\u003c\/p\u003e\n\u003cp\u003eRefinancing during market upturns-CFO focus-cuts average coupon and frees cash; in 2024-25 opportunistic debt exchanges trimmed weighted average interest to about 6.1%.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDebt balance: ~$2.9B (12\/31\/2025)\u003c\/li\u003e\n\u003cli\u003eWeighted avg interest: ~6.1% (post‑2024 refis)\u003c\/li\u003e\n\u003cli\u003eMajor cash outflow: interest + scheduled principal\u003c\/li\u003e\n\u003cli\u003eRefinancing in upturns lowers coupon, improves liquidity\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGeneral and Administrative Expenses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpgeneral and administrative expenses for international seaways cover shore offices executive pay legal fees sec reporting costs in g ran about million of revenue reflecting heavy global hr it spend.\u003e\u003cpcontrolling g boosts voyage-level margins-cutting by would lift net income materially given slim tanker margins.\u003e\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 G\u0026amp;A ≈ $58m\u003c\/li\u003e\n\u003cli\u003eG\u0026amp;A ≈ 12% of revenue (2024)\u003c\/li\u003e\n\u003cli\u003e10% G\u0026amp;A cut → meaningful net income gain\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pcontrolling\u003e\u003c\/pgeneral\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh OPEX \u0026amp; Fuel Drive Voyage Costs; $2.9B Debt, G\u0026amp;A ~12% Revenue\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eOPEX ~$6,500-$9,000\/day per VLCC\/LR2 (2024); bunkers major variable (~$550\/ton avg 2025 Q3) driving 30-45% voyage costs; drydock $2-6m every 3-5 yrs; debt $2.9B (12\/31\/2025), WAC ~6.1%; G\u0026amp;A ~$58m (2024, ~12% revenue).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eItem\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eOPEX\/day\u003c\/td\u003e\n\u003ctd\u003e$6.5k-$9k\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBunker price\u003c\/td\u003e\n\u003ctd\u003e$550\/ton\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDebt\u003c\/td\u003e\n\u003ctd\u003e$2.9B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eG\u0026amp;A\u003c\/td\u003e\n\u003ctd\u003e$58M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eevenue Streams\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpot Market Freight Revenue\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eSpot market freight revenue comes from charging market rates per voyage; in 2024 International Seaways (INSW) saw spot TCEs (time charter equivalent) spike to ~$60,000\/day in Q3 supporting adjusted EBITDA growth, while 2024 annual spot exposure drove ~55-65% of voyage revenue-highly volatile but with biggest upside when demand outpaces tanker supply.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTime Charter Hire\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFixed-rate time charters give International Seaways steady income over months to years, covering fixed costs and debt service; for example, a 12‑month charter at $20,000\/day yields ~$7.3M, smoothing volatility vs spot. Lenders favor time‑charter-backed cash flows-ISW reported 2024 TC equivalent cover improving leverage, with chartered days contributing ~60-70% of contracted revenue in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommercial Pool Distributions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cpcommercial pool distributions: international seaways received pooled voyage revenue based on a points system where q4 payouts averaged per point and smoothed ship earnings versus spot voyages distributions reflect average performance include profit-sharing tied to net profit which was across major crude pools in reducing single-voyage volatility stabilizing cash flow.\u003e\n\u003c\/pcommercial\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDemurrage and Ancillary Income\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eDemurrage and ancillary income: International Seaways collects demurrage when charterers overstay agreed laytime; during 2024 port congestion demurrage added roughly $12-18m to industry peers' annual EBITDA, and ISW likely saw mid-single-digit percentage uplift to voyage revenue in congested quarters.\u003c\/p\u003e\n\u003cp\u003eAncillary fees for heating, cleaning, and special services provide steady add-ons-typically 1-3% of voyage revenue-and spike when weather or cargo specs require extra handling.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDemurrage: meaningful in congestion, ~$12-18m peer EBITDA impact (2024)\u003c\/li\u003e\n\u003cli\u003eRevenue uplift: mid-single-digit % of voyage revenue in peak quarters\u003c\/li\u003e\n\u003cli\u003eAncillary fees: 1-3% of voyage revenue; heating\/cleaning\/special handling\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGains on Asset Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpstrategically selling vessels when values peak yields material one-time gains-international seaways reported in vessel sale gains fy2024-often redeployed to buy newer fuel-efficient ships or cut corporate debt aligning with its long-term fleet renewal plan.\u003e\n\u003cpsuccessful timing across sale cycles is a core finance strategy and helped reduce net leverage from to debt between improving cash return on invested capital.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e$128m vessel sale gains in FY2024\u003c\/li\u003e\n\u003cli\u003eNet leverage down 2.1x → 1.6x (2022-2024)\u003c\/li\u003e\n\u003cli\u003eProceeds used for modern ships and debt paydown\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/psuccessful\u003e\u003c\/pstrategically\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh spot rates drive volatility; time charters, pools \u0026amp; sales steady cash, leverage down\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSpot (~55-65% voyage rev) drives volatility; Q3 2024 spot TCEs hit ~$60,000\/day. Time charters (~60-70% contracted rev) smooth cash - 12‑month at $20,000\/day ≈ $7.3M. Pools, demurrage and ancillaries add stability (pools payout ~$15,200\/point Q4 2025; demurrage uplift ~$12-18M 2024; ancillaries 1-3%). Vessel sales gave $128M gain in FY2024; leverage fell 2.1x→1.6x (2022-24).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSpot exposure\u003c\/td\u003e\n\u003ctd\u003e55-65% voyage rev\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eQ3 2024 spot TCE\u003c\/td\u003e\n\u003ctd\u003e~$60,000\/day\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTime charter yield\u003c\/td\u003e\n\u003ctd\u003e$20k\/day → ~$7.3M\/12m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePools payout (Q4 2025)\u003c\/td\u003e\n\u003ctd\u003e$15,200\/point\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDemurrage impact (2024)\u003c\/td\u003e\n\u003ctd\u003e$12-18M peer EBITDA\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAncillaries\u003c\/td\u003e\n\u003ctd\u003e1-3% voyage rev\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eVessel sale gains (FY2024)\u003c\/td\u003e\n\u003ctd\u003e$128M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet leverage 2022→2024\u003c\/td\u003e\n\u003ctd\u003e2.1x → 1.6x\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"4P Marketing Mix","offers":[{"title":"Default Title","offer_id":64254983176541,"sku":"intlseas-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1058\/5151\/9325\/files\/intlseas-canvas-business-model.webp?v=1776768771","url":"https:\/\/4pmarketingmix.com\/products\/intlseas-business-model-canvas","provider":"4P Marketing Mix","version":"1.0","type":"link"}