International Seaways (NYSE:INSW) is accelerating its fleet high-grading strategy, announcing the sale of five of its oldest vessels for total proceeds of approximately $185 million.
The New York-based tanker giant, a major player in the global transportation of crude oil and petroleum products, expects the transactions to generate a gain of roughly $65 million when they close in the first quarter of 2026.
The divestment targets the senior end of the company’s portfolio, consisting of two Very Large Crude Carriers (VLCCs) with an average age of 15 years and three Medium Range (MR) tankers averaging 18 years.
By offloading these older assets during a period of sustained strength in second-hand vessel values, Seaways is positioning itself to lower its fleet’s average age and improve overall operational efficiency.