International Seaways, Inc. operates one of the larger fleets of crude tankers and product carriers under the Marshall Islands flag, with a total of 70 vessels at the end of 2025 and four more slated for delivery during 2026. The company generated $843 million in revenue in 2025, down over 11% from the prior year, alongside operating income and net income declines exceeding 24% and 25%, respectively [F1][S1]. This retreat stemmed largely from weaker spot market rates despite a solid charter mix. Capital expenditures dropped sharply as vessel deliveries were deferred or limited recently, and capital returns shifted towards dividends totaling $145 million in 2025 [F1][S4]. The company's strong cash position and moderate leverage provide financial flexibility as shipping market volatility continues to challenge earnings visibility [F1][S5][N3].