International Seaways, one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced that in connection with its recently renewed $60.0 million share repurchase program, the Company has repurchased 687,740 shares of its common stock in open-market purchases in August, at an average price of $29.08 per share, for a total cost of approximately $20.0 million.
The shares repurchased will be retired.
The Company has approximately $40.0 million available under the current $60.0 million share repurchase program.