International Seaways Expands VLCC Fleet Through Strategic Combination with Bruton Limited.
Business Wire•16/10/2026•02:30 ET
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Key Highlights
- ➤Bruton valued at approximately $370 million in International Seaways combination
- ➤Seaways will issue approximately 3.12 million INSW shares, 96% of transaction consideration
- ➤Preliminary Q3 revenue approximately $480-$490 million and net income $340-$350 million
- ➤Q3 blended spot earnings approximately $68,000 per day versus $29,000 last year
- ➤Q4 fixed blended spot earnings approximately $180,000 per day on 37% of revenue days
Expert Statements
Lois K. Zabrocky, President and CEO of International Seaways
“We're excited about the opportunity to expand and modernize our fleet through this accretive transaction with Bruton. The transaction underscores our disciplined approach to growth. Following completion of the transaction, Seaways will remain well-positioned to continue executing on our growth strategy, generating attractive returns and creating long-term value for our shareholders.”
International Seaways Expands VLCC Fleet Through Strategic Combination with Bruton Limited.
Agrees to Acquire 50.5% Interest Directly from Bruton Shareholders
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