Question 1

What is International Seaways, Inc.'s vessel expenses?

Accepted Answer

International Seaways, Inc. (INSW) reported vessel expenses of $61.04M in Q1 2026.

Question 2

How has International Seaways, Inc.'s vessel expenses changed year-over-year?

Accepted Answer

International Seaways, Inc.'s vessel expenses decreased by 8.9% year-over-year, from $67.03M to $61.04M.

Question 3

What is the long-term trend for International Seaways, Inc.'s vessel expenses?

Accepted Answer

Over 4 years (2021 to 2025), International Seaways, Inc.'s vessel expenses has grown at a 9.8% compound annual growth rate (CAGR), from $183.06M to $266.14M.

Question 4

What does vessel expenses mean?

Accepted Answer

Vessel expenses encompass the fixed costs required to keep a ship in seaworthy condition, such as crew wages, insurance, routine maintenance, and spare parts. Unlike voyage expenses, these costs are generally incurred regardless of whether the vessel is actively transporting cargo or is idle. They serve as a key indicator of the baseline cost structure required to maintain a fleet of tankers.

Line item	Three Months Ended March 31, 2026	Three Months Ended March 31, 2025
Other operating income	1,900	—
Operating Expenses:
Voyage expenses	8,231	5,052
Vessel expenses	61,039	67,028
Charter hire expenses	7,696	9,145
Depreciation and amortization	40,567	39,705
General and administrative	9,311	13,217
Other operating expenses	138	95

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International Seaways, Inc. INSW Vessel Expenses