International Seaways, Inc. (NYSE:INSW) Q3 2023 Earnings Conference Call November 7, 2023 9:00 AM ET

Company Participants

James Small – General Counsel and Chief Administrative Officer

Lois Zabrocky – President and Chief Executive Officer

Jeff Pribor – Chief Financial Officer

Derek Solon – Senior Vice President and Chief Commercial Officer

Bill Nugent – Senior Vice President and Chief Technical and Sustainability Officer

Conference Call Participants

Ben Nolan – Stifel

Sherif Elmaghrabi – BTIG

Christopher Robertson – Deutsche Bank

Omar Nokta – Jefferies

Liam Burke – B. Riley

Operator

Hello everyone and welcome to the International Seaways Third Quarter 2023 Results Conference Call. All lines have been placed on mute during the presentation portion of the call with an opportunity for question-and-answer at the end. [Operator Instructions]

I would now like to turn the conference over to our host, James Small, General Counsel and Chief Administrative Officer. Please go ahead.

James Small

Thank you, Candice. Good morning, everyone, and welcome to International Seaways earnings call for the third quarter of 2023. Before we start, I would like to begin 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: outlooks for the crude and product tanker markets, 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 conflicts around the globe; the company's strategy; 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 the fourth quarter of 2023, during 2024 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 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, 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, including those described in our annual report on Form 10-K for 2022, our quarterly reports on Form 10-Q for the first three quarters of 2023 and in other filings that we have made, or in the future may make, with the U.S. Securities and Exchange Commission.