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Stock impact report

International Seaways Completes Acquisition of Six Modern VLCCs

International Seaways, Inc. (INSW) 
Last international seaways, inc. earnings: 3/3 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: intlseas.com/corporateprofile
Company Research Source: Business Wire
Grows Fleet 23% Since Spinoff, Reduces Average Age of Fleet to Under Nine Years and Increases Earnings Power NEW YORK--(BUSINESS WIRE)-- International Seaways, Inc. (NYSE:INSW) (“INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil, petroleum products and liquefied natural gas (“LNG”), today announced that it has completed its previously announced acquisition of six 300,000 DWT VLCCs for a purchase price of $434 million, inclusive of assumed debt, from Euronav NV (“Euronav”). The six vessels have an average age of two years and include five 2016-built VLCCs and one 2015-built VLCC, each constructed at Shanghai Waigaoqiao Shipbuilding Co. International Seaways financed the acquisition with the assumption of $311 million of debt secured by the six vessels under a China Export & Credit Insurance Corporation (“Sinosure”) facility funded by The E Show less Read more
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