Zabrocky Lois K sold $228K of INSW

Bruton Limited scheduled a Special General Meeting for Oct. 30, 2026, to vote on a merger with a subsidiary of International Seaways, Inc. The merger would make Bruton an indirect subsidiary of INSW. The meeting follows a previously announced merger agreement.

International Seaways (INSW) will acquire Bruton (BRUT) in a $370M deal, expanding its VLCC fleet. The transaction involves a share exchange and a cash/stock merger, with Bruton shareholders voting on October 30, 2026. INSW reported preliminary Q3 2026 revenues of $480-$490M and net income of $340-$350M, driven by strong market conditions.

The Trump administration is considering easing sanctions on select shadow-fleet vessels, potentially increasing competition for tanker operators like DHT Holdings (DHT), Frontline (FRO), and International Seaways (INSW). Shares of these companies and a tanker-freight ETF declined last week. DHT reported strong Q3 earnings, while International Seaways announced a $370M acquisition. Analysts question if sanctions relief would significantly lower tanker rates.

International Seaways (INSW) agreed to acquire Bruton Limited for $370M, adding four VLCCs to its fleet. The deal involves a two-stage process with stock and cash payments. The acquisition is expected to close in early November, subject to shareholder approval.

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) is acquiring Bruton, valued at $370M, for four VLCCs. The deal involves 3.12M INSW shares and cash, with Bruton's board approving the merger. INSW aims to complete the acquisition by early November 2026, expanding its fleet to about 74 vessels. Bruton's shares will delist from Euronext Growth Oslo post-merger.