International Seaways, Inc. (NYSE:INSW) Q4 2022 Earnings Conference Call February 28, 2023 10:00 AM ET

Company Participants

James Small – General Counsel

Lois Zabrocky – President and Chief Executive Officer

Jeff Pribor – Chief Financial Officer

Bill Nugent – Senior Vice President and Head-Ship Operations

Conference Call Participants

Chris Robertson – Deutsche Bank

Omar Nokta – Jefferies

Ben Nolan – Stifel

Greg Lewis – BTIG

Liam Burke – B. Riley

Operator

Ladies and gentlemen, welcome to the International Seaways Fourth Quarter 2022 Earnings Conference Call. My name is Glenn and I’ll be the moderator for today’s call. [Operator Instructions]

I will now hand you over to your host, James Small, General Counsel. James, please go ahead.

James Small

Thank you, Glenn. Good morning, everyone, and welcome to International Seaways earnings call for the fourth quarter and full year 2022. 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:

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’s 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 in 2023 or 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 in 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, including particular those described in our annual report on Form 10-K for 2022 and in other filings that we have made, or in the future may make, with the U.S. Securities and Exchange Commission.