International Seaways, Inc. filed its Form 10-Q for the quarterly period ended June 30, 2026 with the U.S. Securities and Exchange Commission, reporting net income of $294,925 thousand for the second quarter and $581,068 thousand for the first half of the year.

Key Highlights

  • Q2 2026 total shipping revenues: $467,287 thousand, compared to $195,641 thousand in Q2 2025.
  • Q2 2026 net income: $294,925 thousand, or $5.96 basic and $5.91 diluted net income per share.
  • Six-month net income: $581,068 thousand for the six months ended June 30, 2026, versus $111,211 thousand for the same period in 2025.
  • Total assets: $3,018,942 thousand as of June 30, 2026, up from $2,668,642 thousand at December 31, 2025.
  • Cash and cash equivalents: $159,397 thousand as of June 30, 2026, compared to $116,922 thousand at December 31, 2025.
  • Shares outstanding: 49,531,311 shares of common stock as of August 6, 2026.
  • Six-month gain on disposal of vessels: $88,128 thousand net gain recorded for the six months ended June 30, 2026.

International Seaways Q2 and First-Half 2026 Financial Results

According to the filing, International Seaways, Inc. (New York Stock Exchange: INSW) reported total shipping revenues of $467,287 thousand for the three months ended June 30, 2026, compared to $195,641 thousand for the same quarter in 2025. Revenue for the second quarter included pool revenues of $255,525 thousand, time charter revenues of $88,629 thousand, and voyage charter revenues of $123,133 thousand. For the six months ended June 30, 2026, total shipping revenues reached $792,763 thousand, versus $379,035 thousand in the prior-year period.

The company disclosed income from vessel operations of $301,348 thousand for Q2 2026 and $589,913 thousand for the first six months of 2026. Total operating expenses for the second quarter were $168,382 thousand, with vessel expenses of $63,631 thousand and depreciation and amortization of $39,689 thousand among the largest components. For the six-month period, the filing reported a net gain on disposal of vessels and other assets of $88,128 thousand, along with a holding gain on a previously held equity interest of $3,919 thousand. Interest expense was $19,520 thousand for the six months ended June 30, 2026.

On the balance sheet, the filing reported total assets of $3,018,942 thousand as of June 30, 2026, including vessels and other property of $2,024,244 thousand net of accumulated depreciation of $487,867 thousand. Total liabilities stood at $753,607 thousand, with long-term debt of $606,418 thousand. Total equity was $2,265,335 thousand, reflecting retained earnings of $773,106 thousand. Short-term investments increased to $250,000 thousand from $50,000 thousand at December 31, 2025. The company had 49,520,476 shares issued and outstanding as of June 30, 2026, with 100,000,000 no par value shares authorized.

What Was Disclosed

International Seaways filed its quarterly report covering the period ended June 30, 2026, disclosing materially higher shipping revenues and net income compared to the prior-year periods, along with an expanded balance sheet driven by increased current assets and a higher goodwill balance of $7,369 thousand not present at year-end 2025.