International Seaways to buy Bruton in $370M deal, adding four VLCCs (INSW:NYSE)

International Seaways (INSW) agreed to acquire Bruton Limited for $370M, adding four VLCCs to its fleet. The deal includes one operational VLCC and three under construction. INSW reported Q3 spot earnings of $68K/day, up from $29K/day a year earlier, and expects Q4 earnings of $180K/day for 37% of revenue days. The company anticipates Q3 revenue of $480M-$490M and net income of $340M-$350M, with $965M in liquidity as of September 30.

International Seaways (INSW) advanced its acquisition of Bruton through three agreements. It secured voting support from 50.5% of Bruton shareholders, offering 0.05190 INSW share per Bruton share. A merger agreement was signed, offering stock to large holders and $6.3044 per share in cash to smaller ones. A Bermuda Statutory Merger Agreement was also executed. All agreements were signed on October 16, 2026.

International Seaways (INSW) agreed to acquire Bruton Limited (BRUT) in a $370M deal, expanding its fleet with 4 VLCC vessels. The transaction involves a share exchange and merger, with INSW issuing ~3.12M shares. INSW also reported preliminary Q3 2026 results, with revenues of $480-$490M and net income of $340-$350M, driven by strong market conditions.

International Seaways (INSW) reported preliminary Q3 2026 revenue of $480–490M and net income of $340–350M, including a $50M vessel sale. The company has liquidity of ~$965M. INSW plans to acquire Bruton for ~$370M, issuing ~3.12M shares, pending shareholder approval. The deal adds four VLCCs to INSW's fleet.

Bruton Limited has agreed to merge with International Seaways. Shareholders with more than 10,000 NDRs will receive INSW shares at a 0.0519 ratio, while others will get $6.3044 per NDR in NOK. About 50.5% of shareholders have agreed to vote in favor. The merger is expected to close in early November 2026, pending SGM approval.

International Seaways (INSW) will acquire Bruton Limited for approximately $370 million, adding 4 VLCCs. The deal involves 3.12 million INSW shares and cash, pending Bruton's shareholder approval expected after October.