International Seaways, Inc. (NYSE:INSW) Q1 2023 Results Conference Call May 5, 2023 9:00 AM ET

Company Participants

James Small - General Counsel

Lois Zabrocky - President and Chief Executive Officer

Jeff Pribor - CFO

Conference Call Participants

Greg Lewis - BTIG

Ben Nolan - Stifel

Omar Nokta - Jefferies

Chris Robertson - Deutsche Bank

Liam Burke - B. Riley

Operator

Good morning, and thank you all for standing by. I would like to welcome you all to International Seaways First Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. And after the speakers' remarks, we will conduct a question-and-answer session [Operator Instructions].

I'll now turn the conference over to your host, James Small, General Counsel. So please go ahead, James.

James Small

Thank you, Brica. Good morning, everyone. And welcome to International Seaways earnings call for the first quarter of 2023. Before we begin, I would like to start off by advising everyone with us on the call today of the following. During this call, management may make forward-looking statements regarding the company or the industry in which it operates. Those statements may address, without limitation, the following topics: the outlooks for the crude and product tanker markets and changes in trading patterns; forecasts of world and regional economic activity and of the demand for and production of oil and other petroleum products; the effects of the ongoing conflict between Russia and Ukraine; the company strategy; the effects of the ongoing coronavirus pandemic; our business prospects; expectations regarding revenues and expenses including vessel, charter hire and G&A expenses; estimated bookings, TCE rates and/or capital expenditures during 2023 or in any other period; projected scheduled drydock and off-hire days; purchases and sales of vessels, construction of newbuild vessels and other investments; the company's consideration of strategic alternatives; anticipated and recent financing transactions and any plans to issue dividends; the company's relationship with its stakeholders; the company's ability to achieve its financing and other objectives; and other economic, political, and regulatory developments globally.

Any such forward-looking statements take into account various assumptions made by management based on a number of factors, including management's experience and perception of historical trends, current conditions, expected and future developments, and other factors that management believes are appropriate to consider in the circumstances. Forward-looking statements are subject to risks, uncertainties and assumptions, many of which are beyond the company's control, which could cause actual results to differ materially from those implied or expressed by the statements. Factors, risks and uncertainties that could cause International Seaways' actual results to differ from expectations, include those described in our annual report on Form 10-K, our quarterly reports on Form 10-Q and in other filings that we have made or in the future may make, with the US Securities and Exchange Commission.