Latest news with #Aframaxes
Business Wire
6 days ago
- Business
- Business Wire
International Seaways to Announce Second Quarter 2025 Results on August 6, 2025
NEW YORK--(BUSINESS WIRE)--International Seaways, Inc. (NYSE: INSW) (the 'Company' or 'INSW') announced today that it plans to release second quarter 2025 results before market open on Wednesday, August 6, 2025. The Company will host a conference call for investors at 9:00 a.m. Eastern Time ('ET') on the same day. Conference Call Details: A live webcast of the conference call will be available from the Investor Relations section of the Company's website at An audio replay of the conference call will be available starting at 12:00 p.m. ET on Wednesday, August 6, 2025 through 11:59 p.m. ET on Wednesday, August 13, 2025 by dialing +1 (866) 813-9403 for domestic callers and +44 204 525 0658 for international callers, and entering Access Code 845806. About International Seaways, Inc. International Seaways, Inc. (NYSE: INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 81 vessels, including 11 VLCCs, 13 Suezmaxes, five Aframaxes/LR2s, 13 LR1s (including six newbuildings), and 39 MR tankers. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at Forward-Looking Statements This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the U.S. Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to the Company's plans to issue dividends, its prospects, including statements regarding vessel acquisitions, trends in the tanker markets, and possibilities of strategic alliances and investments. Forward-looking statements are based on the Company's current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for 2024 for the Company, the Form 10-Q for the first quarter of 2025, and in similar sections of other filings made by the Company with the SEC from time to time. The Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Company with the SEC.
New Straits Times
10-07-2025
- Business
- New Straits Times
Long-term charters shield MISC from trade headwinds
KUALA LUMPUR: MISC Bhd expects trade headwinds to have only a minimal effect on its operations, as the majority of its liquefied natural gas (LNG) and petroleum fleets are secured under long-term charter contracts. According to RHB Investment Bank Bhd (RHB IB), the group's exposure to China-built vessels operating in the US Gulf is limited, and it has the flexibility to redeploy its fleet if necessary. "In managing geopolitical risks, the group has rerouted vessels via the Cape of Good Hope, supported by real-time monitoring and close coordination with authorities. "While oil majors pivot back to traditional oil and gas, highlighting energy transition risks, the maritime sector continues to move forward under clear regulatory direction and mounting pressure to decarbonise," it said. In line with this, MISC has set up a dedicated task force to lead its decarbonisation efforts. RHB IB said MISC is actively strengthening its resilience and maintaining steady long-term cash flows across its key business segments. In the LNG shipping division, the group is upgrading its fleet with 19 new LNG carriers expected to be delivered by 2027. For the petroleum segment, MISC is modernising its fleet with dual-fuel tankers, having already secured charters for three ammonia-powered Aframax vessels set for delivery between 2027 and 2028, along with two LNG dual-fuel Aframaxes. In the offshore segment, the company is preparing to bid for new projects to capitalise on the current floating production storage and offloading (FPSO) supercycle, following the successful deployment of the Mero 3 unit. RHB IB also noted that MISC is exploring floating CO₂ injection solutions by leveraging the combined capabilities of its Offshore and New Energy (NED) divisions. As for its heavy engineering segment, the focus is on improving the quality of its order book and positioning its yard as a preferred partner for LNG carrier drydocking, repairs, and conversion works. Following a recent stakeholder engagement session, RHB IB said it remains upbeat about MISC's medium-term prospects, supported by its long-term charters and ongoing fleet upgrades despite the challenging environment. "Growth prospects are further supported by its positioning in the FPSO supercycle and growing momentum in green energy," it added.
Gulf Insider
08-02-2025
- Business
- Gulf Insider
Trump Begins Sanction Campaign Against Tehran's "Oil Network"
The U.S. Treasury's Office of Foreign Assets Control (OFAC) unveiled on Thursday the first round of sanctions against Iran under President Trump's second term, reinforcing his campaign pledge to ramp up 'maximum pressure' on Tehran. The move targets Iran's oil network, which supplies discounted crude to China, generating billions in revenue that Treasury officials say helps fund regional militant groups. 'The oil was shipped on behalf of Iran's Armed Forces General Staff (AFGS) and its sanctioned front company, Sepehr Energy Jahan Nama Pars (Sepehr Energy). This action includes entities and individuals in multiple jurisdictions, including the PRC, India, and the United Arab Emirates (UAE), as well as several vessels,' the Treasury stated in a press release, adding those 'targeted' sanctions were designed to disrupt Iran's 'oil network' to ship to China. Three ships were sanctioned, including one very large crude carrier and two Aframaxes tankers. More color on Sepehr Energy via public records data… Upstream ownership might explain why this entity was targeted by OFAC. Secretary of the Treasury Scott Bessent stated, 'The Iranian regime remains focused on leveraging its oil revenues to fund the development of its nuclear program, to produce its deadly ballistic missiles and unmanned aerial vehicles, and to support its regional terrorist proxy groups.' 'The United States is committed to aggressively targeting any attempt by Iran to secure funding for these malign activities,' Bessent noted. The move from the Treasury follows Trump's announcement on Tuesday in 'restoring maximum pressure on the government of the Islamic Republic of Iran, denying Iran all paths to a nuclear weapon, and countering Iran's malign influence abroad.' Trump said he would 'modify or rescind existing sanctions waivers and cooperate with the Secretary of Treasury to implement a campaign aimed at driving Iran's oil exports to zero.' Under Biden's first term, Iran turned on the crude oil export spigots, much of which was shipped to China (read: What Sanctions? China Imports Record Amount Of Iranian Oil ). Bloomberg quoted shippers and analysts following the Treasury's announcement as overwhelmingly saying the targeting of a number of tankers carrying Iranian oil stopped short of 'maximum pressure.' Click here to read more…
Yahoo
07-02-2025
- Business
- Yahoo
Trump's First Iran Sanctions Hit Three Ships in China Trade
(Bloomberg) -- President Donald Trump's maiden sanctions package targeting a handful of vessels carrying Iranian oil stopped short of the 'maximum pressure' campaign his administration had pledged, according to shippers and analysts. Citadel to Leave Namesake Chicago Tower as Employees Relocate NYC Sees Pedestrian Traffic Increase in Congestion-Pricing Zone How London's Taxi Drivers Navigate the City Without GPS Nice Airport, If You Can Get to It: No Subway, No Highway, No Bridge Transportation Memos Favor Places With Higher Birth and Marriage Rates The move, announced Thursday, affected one very-large crude carrier and two Aframaxes that the Treasury Department said helped move Iranian oil to China. It also targeted several entities and individuals across different countries that were involved in the trade, which was on behalf of Tehran's Armed Forces General Staff and its sanctioned front company, Sepehr Energy Jahan Nama Pars. In the days leading up to Trump's inauguration on Jan. 20, shipping executives and oil traders had been nervous about a potential big sanctions package aimed at crippling Tehran, given how vocal he was against the Islamic Republic during his first term. They were worried that such measures would cause even bigger disruptions to supply chains that had already been thrown into disarray after the Biden administration's aggressive moves against Russia in early January. The former president had also targeted the Iran-China oil trade with three rounds of sanctions late last year. But market nerves have been soothed somewhat in recent days, with Trump appearing to soften his stance on Iran, saying that he wants to work on a new nuclear deal that allows the country to 'peacefully grow and prosper.' The measures announced Thursday are similar to the sanctions imposed in recent years under the Biden administration, which didn't materially impact Iran's oil exports, said Junjie Ting, a shipping analyst at Oil Brokerage Ltd. 'It is a warning shot.' The newly sanctioned trio of vessels include the CH Billion, a 21-year-old Aframax that flies under Panama's flag. In 2024, it took on more than 700,000 barrels of Iranian crude from a Tehran-owned tanker in waters off Singapore that have been known to host ship-to-ship transfers. The vessel was also used to ferry barrels from Russia's Pacific port of Kozmino. The fleet involved in that trade was heavily sanctioned last month. The two other affected tankers were Panama-flagged Gioiosa and Hong Kong-flagged Star Forest. Separately, Comoros-flagged tanker Siri was also singled out in the latest statement. According to the Treasury, the already-sanctioned vessel has been operating under a disguise after its Iranian owner falsified documents and physically hid its name to conceal its identity and pass it off as a different tanker called New Prime. --With assistance from Serene Cheong. (Adds analyst comment in sixth paragraph; updates with detail on CH Billion) Orange Juice Makers Are Desperate for a Comeback Believing in Aliens Derailed This Internet Pioneer's Career. Now He's Facing Prison Business Schools Confront Trump Immigration Policies Inside Elon Musk's Attack on the US Government The Reason Why This Super Bowl Has So Many Conspiracy Theories ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
07-02-2025
- Business
- Yahoo
Trump's Iranian Sanctions Hit Three Ships Active in China Trade
(Bloomberg) -- President Donald Trump's first sanctions package targeting a handful of vessels carrying Iranian oil stopped short of the 'maximum pressure' campaign his administration had pledged, according to shippers and analysts. Citadel to Leave Namesake Chicago Tower as Employees Relocate NYC Sees Pedestrian Traffic Increase in Congestion-Pricing Zone Transportation Memos Favor Places With Higher Birth and Marriage Rates State Farm Seeks Emergency California Rate Hike After Fires How London's Taxi Drivers Navigate the City Without GPS The move, announced Thursday, affected one very-large crude carrier and two Aframaxes that the Treasury Department said helped move Iranian oil to China. It also targeted several entities and individuals across different countries that were involved in the trade, which was on behalf of Tehran's Armed Forces General Staff and its sanctioned front company, Sepehr Energy Jahan Nama Pars. In the days leading up to Trump's inauguration on Jan. 20, shipping executives and oil traders had been nervous about a potential big sanctions package aimed at crippling Tehran, given how vocal he was against the Islamic Republic during his first term. They were worried that such measures would cause even bigger disruptions to supply chains that had already been in disarray after the Biden administration's aggressive moves against Russia in early January. The former president had also targeted the Iran-China oil trade with three rounds of sanctions late last year. But market nerves have been eased somewhat in recent days, with Trump appearing to soften his stance on Iran, saying that he wants to work on a new nuclear deal that allows the country to 'peacefully grow and prosper.' The newly sanctioned trio of vessels include the CH Billion, a 21-year-old Aframax that flies under Panama's flag. In 2024, it took on more than 700,000 barrels of Iranian crude from a Tehran-owned tanker in the waters off Singapore that's been known to host ship-to-ship transfers. More recently, the vessel was also used to ferry barrels from Russia's Pacific port of Kozmino after the fleet involved in that trade was heavily sanctioned last month. The two other affected tankers were Panama-flagged Gioiosa and Hong Kong-flagged Star Forest. Separately, Comoros-flagged tanker Siri was also singled out in the latest statement. According to the Treasury, the already-sanctioned vessel has been operating under a disguise after its Iranian owner falsified documents and physically hid its name to conceal its identity and pass off as a different tanker called New Prime. --With assistance from Serene Cheong. Orange Juice Makers Are Desperate for a Comeback Believing in Aliens Derailed This Internet Pioneer's Career. Now He's Facing Prison Inside Elon Musk's Attack on the US Government Amazon and SpaceX Want In on India's Satellite Internet Market Elon Musk Inside the Treasury Department Payment System ©2025 Bloomberg L.P.
