International Seaways, Inc. (INSW) Stock Price & How to Invest
Short answer
International Seaways (INSW) is a NYSE-listed oil-tanker owner-operator, so investing in it is a bet on crude and refined-product shipping rates, which are cyclical and volatile. It is a large-cap, diversified tanker play (VLCCs down to product carriers) with a low-debt balance sheet and a variable dividend policy.
INSW stock price
As of 2026-07-09, International Seaways, Inc. (INSW) last closed at $82.98, up 108.4% over the past year. Over the past 52 weeks it has traded between $38.29 and $91.62.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or International Seaways, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does International Seaways, Inc. (INSW) do?
International Seaways owns and operates a fleet of roughly 70 oceangoing vessels that transport crude oil and refined petroleum products in international trade. The business runs across two segments, Crude Tankers (VLCCs, Suezmaxes, and Aframaxes) and Product Carriers (MRs, LR1s, and LR2s), and also provides ship-to-ship lightering support services. Revenue is driven almost entirely by daily spot charter rates, which swing sharply with global oil demand, ton-mile trade patterns, and geopolitical disruption.
The investment picture is a classic shipping cycle story. When tanker rates are elevated, as they were in 2025 and into 2026, INSW generates outsized cash flow, funds a large variable dividend, and keeps leverage low (net loan-to-value near the mid-teens percent). When rates soften, earnings can fall quickly, so the stock tends to trade at a low earnings multiple to reflect that cyclicality. INSW's diversified fleet across crude and product segments is intended to smooth exposure relative to pure-play VLCC or product-tanker peers.
What's driving International Seaways, Inc. (INSW)?
1. Strong tanker spot rates
Elevated crude and product tanker rates drove record results, with Q1 2026 crude spot earnings above $41,000 per day. Favorable ton-mile demand and constrained newbuild supply have supported rates. Sustained strength is the primary swing factor for INSW's cash flow.
2. Diversified fleet mix
INSW spans VLCCs down to MR product carriers across its two segments. That breadth is meant to provide a natural hedge when one sub-market weakens, unlike pure-play peers such as DHT Holdings (VLCCs) or Scorpio Tankers (products). It gives management flexibility to lean into whichever segment is strongest.
3. Low leverage and shareholder returns
The company ended Q1 2026 with roughly $918 million in liquidity and only about $225 million of net debt, keeping net loan-to-value low. A variable dividend policy returns a large share of earnings, including a combined $4.55 per share declared for Q1 2026 (a $0.12 base plus a $4.43 supplemental). Low debt gives cushion when the cycle turns.
4. Geopolitical trade-route dynamics
Disruptions around chokepoints such as the Strait of Hormuz and shifting oil trade flows can lengthen voyages and lift ton-mile demand. These same events also add volatility and near-term uncertainty. Management has flagged Hormuz-related risk as a live consideration.
What are the risks to International Seaways, Inc. (INSW)?
INSW's earnings are highly cyclical and depend on spot charter rates that can fall sharply and unpredictably. A downturn in oil demand, a wave of newbuild vessel deliveries, or a normalization of trade routes could compress rates and cut cash flow quickly. The variable dividend can shrink dramatically in weak quarters because most of the payout is supplemental rather than base. Geopolitical shocks cut both ways, boosting rates in some scenarios and disrupting operations in others. Long-term demand for seaborne oil transport also faces uncertainty from the energy transition.
How is International Seaways, Inc. (INSW) valued? (approximate, Q1 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see International Seaways, Inc.'s investor relations page or your broker.
- Revenue (Q1 2026): ~$325M
- Revenue (FY2025): ~$1.0B
- Net income (Q1 2026): ~$286M
- Diluted EPS (FY2025): ~$6.23
- Market cap: ~$4.2B
- Fleet size: ~70 vessels
INSW posted record Q1 2026 results, with revenue up roughly 78% year over year and adjusted EPS of about $3.90 beating consensus. Tanker operators typically trade at low single-digit to high single-digit forward earnings multiples to reflect the cyclicality of spot rates. Reported earnings can swing widely quarter to quarter with the rate environment.
Who competes with International Seaways, Inc. (INSW)?
Diversified and crude tanker operators
Frontline (FRO) is a large-scale operator with heavy VLCC exposure, while DHT Holdings (DHT) is a pure-play VLCC owner. INSW competes with both in the crude segment but carries a more diversified fleet.
Product and mid-size tanker peers
Scorpio Tankers (STNG) specializes in product carriers and Teekay Tankers (TNK) focuses on mid-sized crude tankers. INSW overlaps with both through its product carrier and Suezmax/Aframax fleets.
Broader seaborne energy shipping
Companies like Euronav/CMB.TECH and other listed tanker owners compete for the same global oil-transport cargoes. The whole group rises and falls together with tanker spot rates and oil trade volumes.
How to invest in International Seaways, Inc. (INSW)
There are three common ways to get INSW exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so INSW sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where INSW fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on International Seaways, Inc. (INSW)
INSW is a diversified, financially conservative tanker operator whose earnings and payouts rise and fall with a highly cyclical spot-rate market.
More on International Seaways, Inc. (INSW)
Whether INSW is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is INSW a buy?, and where the stock could go from here in the INSW stock forecast.
For income investors, whether INSW pays a dividend and how the payout looks is covered in does INSW pay a dividend?
Build a basket around INSW with Walnut
Use International Seaways, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does International Seaways do?
+
International Seaways owns and operates a fleet of about 70 oceangoing tankers that carry crude oil and refined petroleum products in international trade. It runs two segments, Crude Tankers and Product Carriers, and also offers ship-to-ship lightering services.
What drives INSW's stock price?
+
The single biggest driver is daily tanker spot charter rates, which move with global oil demand, ton-mile trade patterns, vessel supply, and geopolitical events. Higher rates lift INSW's cash flow and dividends, while lower rates compress them.
Does INSW pay a dividend?
+
Yes. INSW pays a small fixed base dividend plus a variable supplemental dividend tied to earnings. For Q1 2026 it declared a combined $4.55 per share ($0.12 base plus $4.43 supplemental), so the total payout can vary widely quarter to quarter.
How big is International Seaways?
+
INSW is a large-cap tanker operator with a market capitalization of roughly $4.2 billion and a fleet of about 70 vessels ranging from VLCCs down to MR product carriers as of mid-2026.
Who are INSW's main competitors?
+
Key peers include Frontline (FRO) and DHT Holdings (DHT) in crude tankers, plus Scorpio Tankers (STNG) and Teekay Tankers (TNK) in products and mid-size crude. All of them compete for the same seaborne oil cargoes.
Is INSW financially healthy?
+
As of Q1 2026, INSW reported roughly $918 million in liquidity and only about $225 million in net debt, with net loan-to-value in the low teens percent. That conservative balance sheet gives it cushion during weaker parts of the shipping cycle.
Why is INSW's stock considered cyclical?
+
Its revenue comes almost entirely from spot charter rates that can rise or fall sharply within a single quarter. That makes reported earnings and the variable dividend volatile, which is why tanker stocks often trade at low earnings multiples.
What are the main risks with INSW?
+
The biggest risks are a downturn in tanker rates from softer oil demand or new vessel supply, a shrinking variable dividend in weak quarters, geopolitical disruption to trade routes, and long-term demand uncertainty from the energy transition.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with International Seaways, Inc.'s investor relations page or your broker before making investment decisions.