Key facts: International Seaways, Inc. prelim Q3 results; to buy Bruton

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) agreed to acquire Bruton Ltd. for ~$370M, adding four VLCCs. INSW shares rose 1.7% pre-market Friday.

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.

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.