International Seaways, Inc., one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, today reported results for the second quarter of 2021. Highlights Subsequent to the end of the quarter, INSW completed the previously announced merger with Diamond S Shipping Inc. (NYSE: DSSI), creating the largest U.S.-listed diversified .
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International Seaways Reports First Quarter Net Loss of $13.4 Million as the Company Prepares to Merge With Diamond S. Shipping
International Seaways, Inc., one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products yesterday reported results for the first quarter of 2021.
Highlights
Net loss for the three months ended March 31, 2021 was $13.4 million, or $0.48 per diluted share, compared to net income of $33.0 million, or $1.12 per diluted share, in the first quarter of 2020.
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Overseas Shipholding Group Reports Fourth Quarter and Full Year 2020 Results
April 7, 2021 GMT
TAMPA, Fla. (BUSINESS WIRE) Apr 7, 2021
Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”), a provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today reported results for the fourth quarter and full year 2020.
Highlights
Net income for the full year 2020 was $30.0 million, or $0.33 per diluted share, compared with $8.7 million, or $0.10 per diluted share for the full year 2019.
Net loss for the fourth quarter was $844 thousand, or $(0.01) per diluted share, compared with net income of $11.0 million, or $0.12 per diluted share, for the fourth quarter 2019.
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International Seaways Reports Fourth Quarter and Full Year 2020 Results
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International Seaways, Inc. (NYSE: INSW) (the Company or INSW ), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, today reported results for the fourth quarter and full year 2020.
Highlights
Net loss for the twelve months ended December 31, 2020 was $5.5 million, or $0.20 per diluted share. Net loss for 2020 reflects the impact of impairments and loss on sale of vessels of $100.1 million and various expenses related to refinancing of $14.5 million, and a non-cash deferred tax provision of $16.4 million recorded as a reduction of equity in results of the FSO (Floating Storage Offloading) joint ventures, principally related to the extension of their service contracts. Net income excluding these items would have been $125.2 million, or $4.39 per diluted share.