International Seaways reports $295m Q2 net income on higher charter earnings

International Seaways reported net income of $295 million for the second quarter of 2026, up from $62 million in the same period of 2025, driven primarily by higher time charter equivalent earnings across its fleet.

Shipping revenue reached $467 million during the quarter, compared with $196 million a year earlier. Net loan-to-value stood at approximately six per cent as of June 30, while total liquidity reached approximately $935 million.

As part of its fleet renewal programme, International Seaways ordered four additional LR1 newbuildings from K Shipbuilding for an aggregate $244 million, with deliveries expected in 2028.