International Seaways, Inc., one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced that since the start of the year, it has sold or entered into agreements to sell five vessels for aggregate proceeds of approximately $185 million, net of commissions and fees.
The vessels are among the oldest in the fleet, consisting of three MRs with an average age of 18 years and two VLCCs with an average of 15 years. The Company expects to close these transactions during the first quarter of 2026 and recognize gains from the vessel sales of approximately $65 million.