International Seaways is once again thinning out its fleet, pressing ahead with the sale of older ships as it reshapes its balance sheet and trading exposure.
The New York-listed tanker owner said it has sold, or agreed to sell, five vessels since the start of the year, generating around $185m in proceeds after commissions and fees. The deals are expected to close during the first quarter of 2026 and should deliver gains of roughly $65m.
The ships heading for the exit are among the oldest in the fleet: three MR product tankers with an average age of 18 years to undisclosed buyers and two VLCCs averaging 15 years, linked to South Korean owner Sinokor. The disposals follow a similar push last year, when the company offloaded more than 10 ageing product carriers while at the same time adding younger VLCC tonnage.
The Lois Zabrocky-led group has been steadily clearing out vintage ships as part of a broader strategy to modernise and stay flexible across tanker segments. Even after the latest round of sales, International Seaways remains one of the larger publicly listed tanker owners, with a fleet of 73 vessels. That line-up includes 12 VLCCs, 13 suezmaxes, five aframaxes/LR2s, 11 LR1s – four of them newbuildings – and 32 MR tankers.
The fleet reshuffle comes alongside other recent moves, including a deeper push into the suezmax market. International Seaways has expanded beyond its long-standing VLCC focus with the launch of a dedicated suezmax pool, following its takeover of full ownership of Tankers International after buying out CMB.TECH’s stake. Spot-trading suezmaxes from its fleet are set to be placed into the new pool.
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