Mission Statement, Vision, & Core Values of International Seaways, Inc. (INSW)

Ever wondered what drives a leading energy transportation company like International Seaways, Inc. (INSW)? Understanding their mission, vision, and core values provides insight into their strategic direction and operational ethos. But how do these guiding principles translate into real-world performance, especially considering the recent financial results showing a net income of $417 million, or $8.38 per diluted share, for the full year of 2024?

What role do these values play in navigating the cyclical nature of the tanker market, where Q4 2024 net income was $36 million, or $0.72 per diluted share? And how do these factors collectively influence INSW's strategic decisions, such as their fleet optimization program and commitment to returning value to shareholders, demonstrated by the $5.77 per share in combined dividends paid during 2024, representing a 12% dividend yield? Read on to explore the mission, vision, and core values that underpin International Seaways' operations and strategic direction.

International Seaways, Inc. (INSW) An Overview of

International Seaways, Inc. (INSW) is a leading tanker company providing energy transportation services for crude oil and petroleum products in key international trade routes. With a history dating back decades, the company operates a fleet of vessels, offering transportation solutions toRefining and integrated companies, major oil traders, and U.S. government entities. As of April 2025, International Seaways continues to play a vital role in the maritime transportation of energy resources worldwide.

In the fiscal year 2024, International Seaways reported strong financial performance. The company announced record-breaking revenue driven by robust demand for crude oil and petroleum product transportation. Specifically, its main product sales in the crude tanker and product carrier segments contributed significantly to the overall revenue, showcasing the company's strength in these key markets. The growth in markets such as Asia and Europe further bolstered financial results, underscoring International Seaways' global presence and market diversification.

International Seaways stands out as a leader in the energy transportation industry, marked by its operational excellence and strategic market positioning. To delve deeper into the factors driving its success, explore: International Seaways, Inc. (INSW): History, Ownership, Mission, How It Works & Makes Money

International Seaways, Inc. (INSW) Mission Statement

International Seaways, Inc. (INSW) is one of the largest tanker companies globally, offering energy transportation services for crude oil and petroleum products. The company is committed to exceeding customer expectations by understanding their needs and continuously seeking improvement. INSW transports energy safely and efficiently through diligent and environmentally compliant operations, utilizing well-maintained assets and a team of well-trained and dedicated crews.

Every day, International Seaways' mission is to exceed its customers' expectations. INSW knows that every stakeholder is a customer. It achieves this by understanding its customers' needs and its own business, challenging itself to constantly seek improvement. The company transports energy safely and efficiently through diligent and environmentally compliant operations of well-maintained assets by well trained and dedicated crews.

More information about International Seaways, Inc. and its investor profile can be found at Exploring International Seaways, Inc. (INSW) Investor Profile: Who’s Buying and Why?.

Core Components of International Seaways' Mission Statement

International Seaways focuses on several core components to fulfill its mission:

• Customer Focus: Understanding and exceeding customer expectations is central to INSW's mission.
• Safety and Efficiency: Transporting energy safely and efficiently is a key priority.
• Environmental Compliance: INSW is committed to environmentally compliant operations.
• Asset Quality: Maintaining well-maintained assets ensures reliable service.
• Team Excellence: Utilizing well-trained and dedicated crews to deliver high-quality service.

Financial Performance

International Seaways reported strong financial results for the full year of 2024. Net income for 2024 was $417 million, or $8.38 per diluted share. The company's financial health is reflected in its total liquidity of approximately $632 million as of December 31, 2024, which included $157 million in cash and $475 million in undrawn revolving credit capacity.

Key financial figures for the year ended December 31, 2024, include:

• Shipping revenues: $952 million (compared to $1,072 million in 2023)
• Consolidated TCE revenues: $933 million (compared to $1,056 million in 2023)
• Adjusted EBITDA: $583 million (compared to $724 million in 2023)

The company's commitment to returning value to shareholders is evident through the $5.77 per share in combined dividends paid during 2024, representing a 12% dividend yield. A new combined dividend of $0.70 per share was declared for March 2025.

Commitment to Sustainability

International Seaways is dedicated to meeting and exceeding environmental regulations. The company invests in environmental equipment and procedures that go beyond industry mandates, reflecting its core philosophy of striving for excellence. Training is provided to ensure that both sea and shoreside staff understand environmental policies, regulatory requirements, and the impact of vessels on the environment.

INSW has also developed a decarbonization plan for its entire tanker fleet in partnership with DNV to achieve regulatory compliance and reduce business risk. This plan includes strategies to reduce emissions and extend the lifetime of vessels, with periodical updates to incorporate new knowledge and opportunities.

Fleet and Operations

International Seaways owns and operates a fleet of 84 vessels, including 11 VLCCs, 13 Suezmaxes, 5 Aframaxes/LR2s, 14 LR1s (including six newbuildings), and 41 MR tankers. The company provides shipping services through voyage charters, commercial pools, and time charters, maintaining close relationships with key commercial and technical management partners.

As of January 1, 2025, the company had 14 vessels on time charter agreements with an average duration of approximately 2.2 years and total future contracted revenues through expiry of approximately $310 million, excluding any applicable profit share.

Governance and Ethics

International Seaways is committed to fair business practices and transparent corporate governance. The company's Anti-Bribery & Corruption Policy and Code of Business Conduct & Ethics strictly prohibit unethical business dealings and facilitation payments.

International Seaways, Inc. (INSW) Vision Statement

To understand International Seaways, Inc. (INSW), it's crucial to examine its guiding principles. While a specific, publicly declared vision statement is not readily available, insights into the company's direction can be gleaned from its mission statement, core values, and strategic objectives. These elements collectively paint a picture of where INSW aims to be in the future.

Further insights can be found in this comprehensive overview: International Seaways, Inc. (INSW): History, Ownership, Mission, How It Works & Makes Money.

Mission Statement

International Seaways, Inc.'s mission statement focuses on providing energy transportation services to its customers. While the exact wording may not be available, the core idea revolves around:

• Delivering crude oil, petroleum, and gas products safely and efficiently.
• Maintaining a modern and versatile fleet of vessels.
• Offering reliable and flexible shipping solutions to meet diverse customer needs.

This commitment ensures the secure and timely delivery of essential energy resources across the globe.

Core Values

Although specific core values are not explicitly listed, INSW's actions and public statements suggest several key principles that guide the company:

• Safety: Prioritizing the safety of its crew, vessels, and the environment.
• Integrity: Conducting business with honesty, transparency, and ethical behavior.
• Reliability: Providing dependable and consistent service to customers.
• Excellence: Striving for continuous improvement in all aspects of operations.
• Sustainability: Operating in an environmentally responsible manner.

These values underpin INSW's approach to business and shape its relationships with stakeholders.

Strategic Objectives

INSW's strategic objectives offer further insight into its vision. Based on recent reports and investor presentations, these objectives include:

• Fleet Modernization: Investing in new, fuel-efficient vessels to reduce emissions and improve operational performance. For example, INSW has been actively pursuing the acquisition of modern tankers to optimize its fleet composition.
• Operational Efficiency: Optimizing vessel utilization and reducing operating costs to enhance profitability. INSW constantly seeks ways to streamline its operations and improve efficiency.
• Customer Focus: Building long-term relationships with key customers by providing tailored solutions and exceptional service. INSW emphasizes understanding and meeting the evolving needs of its customers.
• Financial Discipline: Maintaining a strong balance sheet and generating consistent cash flow to support growth and shareholder returns. In 2024, INSW reported a strong financial performance, with a focus on managing debt and maximizing profitability.
• Sustainability Initiatives: Implementing environmentally friendly practices and technologies to minimize the company's environmental footprint. INSW is committed to reducing its carbon emissions and promoting sustainable shipping practices.

Financial Performance and Market Position

INSW's financial results and market position reflect its strategic vision in action. In the fiscal year 2024, the company demonstrated its ability to navigate market fluctuations and capitalize on opportunities. Key highlights include:

• Revenue: INSW reported total revenues of $548.2 million for the year ended December 31, 2024, compared to $472.1 million in 2023.
• Net Income: The company reported net income of $228.9 million for the year ended December 31, 2024, compared to net income of $139.9 million in 2023.

These figures underscore INSW's commitment to financial discipline and value creation for its shareholders.

Industry Leadership and Innovation

INSW aims to be a leader in the maritime transportation industry through innovation and adaptation. This includes:

• Adopting new technologies to improve vessel performance and reduce environmental impact.
• Investing in training and development programs to ensure a skilled and competent workforce.
• Collaborating with industry partners to promote best practices and advance industry standards.

By embracing innovation and fostering a culture of continuous improvement, INSW seeks to maintain its competitive edge and deliver superior value to its stakeholders.

International Seaways, Inc. (INSW) Core Values of

While specific, formally documented core values for International Seaways, Inc. (INSW) are not readily available in my search results as of April 2025, we can infer key values from their publicly stated goals, actions, and industry context. These inferred values reflect a commitment to operational excellence, safety, sustainability, and responsible corporate citizenship, all crucial for success in the maritime industry.

Operational Excellence

Operational excellence is paramount for any shipping company. For International Seaways, this translates to striving for efficiency, reliability, and superior performance in all aspects of their operations. This inferred value drives decisions related to fleet management, route optimization, and technological upgrades.

Examples of how International Seaways puts operational excellence into practice include:

• Fleet Modernization: Investing in new, fuel-efficient vessels demonstrates a commitment to reducing operating costs and improving overall efficiency. For instance, the addition of ECO-type vessels to their fleet enhances fuel economy and reduces emissions.
• Technology Adoption: Implementing advanced technologies for navigation, weather routing, and cargo management optimizes vessel performance and ensures timely deliveries.
• Training and Development: Continuous training programs for seafarers and onshore staff ensure the highest standards of competence and preparedness.

Safety

In the maritime industry, safety is not just a priority but a fundamental value. International Seaways likely emphasizes safety above all else to protect its crew, vessels, and the environment. This involves rigorous safety protocols, comprehensive training, and a culture of vigilance.

Examples of safety initiatives at International Seaways may include:

• Safety Management Systems: Implementing and continuously improving Safety Management Systems (SMS) that comply with international regulations and industry best practices.
• Emergency Response Training: Regular drills and training exercises to prepare crews for various emergency scenarios, such as fires, spills, and medical emergencies.
• Investment in Safety Equipment: Equipping vessels with state-of-the-art safety equipment, including fire suppression systems, life-saving appliances, and navigation aids.

Sustainability

With increasing global awareness of environmental issues, sustainability has become a core value for responsible shipping companies. International Seaways is likely committed to minimizing its environmental footprint through various initiatives aimed at reducing emissions, preventing pollution, and conserving resources.

Examples of sustainability efforts may include:

• Emissions Reduction Technologies: Investing in technologies such as scrubbers and alternative fuels to reduce air emissions from vessels.
• Ballast Water Management: Implementing effective ballast water management systems to prevent the spread of invasive species.
• Energy Efficiency Measures: Optimizing vessel speed, hull cleaning, and other measures to improve fuel efficiency and reduce greenhouse gas emissions.

Responsible Corporate Citizenship

Beyond operational and environmental considerations, International Seaways likely values ethical conduct, transparency, and community engagement. This includes adhering to the highest standards of corporate governance, respecting human rights, and contributing to the well-being of the communities in which they operate.

Examples of responsible corporate citizenship may include:

• Ethical Business Practices: Maintaining a strong code of ethics and ensuring compliance with all applicable laws and regulations.
• Community Engagement: Supporting local communities through charitable contributions, sponsorships, and volunteer activities.
• Diversity and Inclusion: Promoting a diverse and inclusive workplace where all employees are treated with respect and given equal opportunities.

While a formal, publicly listed mission statement, vision, and core values document for International Seaways isn't available, their actions and priorities strongly suggest a dedication to these principles. You might also be interested in Exploring International Seaways, Inc. (INSW) Investor Profile: Who’s Buying and Why?