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New age of sail looks to slash massive maritime carbon emissions

New age of sail looks to slash massive maritime carbon emissions
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International Seaways Announces Contract to Build Three Dual-Fuel LNG VLCCs | Hellenic Shipping News Worldwide

International Seaways Announces Contract to Build Three Dual-Fuel LNG VLCCs International Seaways, Inc., one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, today announced that it has entered into an agreement to build three dual-fuel LNG VLCCs. The three vessels will be constructed at leading South Korean shipyard DSME and are expected to deliver in 2023. Upon delivery, the three vessels will commence seven-year time charters with Shell. The Company expects to fund the construction costs with cash and long-term financing. “We are pleased to partner with market leading counterparty Shell on these three dual-fuel LNG VLCCs,” said Lois K. Zabrocky, International Seaways’ President and CEO. “In addition to generating strong, stable cash flows for seven years, with added upside due to profit sharing above the base rate, we are once again renewing our fleet at very attractive

International Seaways Reports Fourth Quarter and Full Year 2020 Results

International Seaways Reports Fourth Quarter and Full Year 2020 Results Read full article Oops! 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.

- International Seaways Announces

- International Seaways Announces
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