International Seaways subsidiary pledges VLCC tanker in $500 million credit facility

International Seaways, Inc. (NYSE: INSW) reported that Liberty Tanker Company LLC entered into a joinder agreement on October 19, 2026, becoming a subsidiary guarantor under the company's $500 million revolving credit facility. The agreement, filed with the U.S. Securities and Exchange Commission as an 8-K on October 23, 2026, binds the subsidiary to the existing loan documents and requires it to pledge one very large crude carrier (VLCC) tanker as collateral.

The pledged vessel serves as a Substitution Vessel under the Credit Agreement, replacing a collateral vessel that was sold and announced in the third quarter of 2026. The $500 million revolving credit facility, originally dated May 20, 2022, has been amended multiple times, including a third amendment dated October 7, 2025. Nordea Bank Abp, New York Branch, acts as the administrative agent, collateral agent, security trustee, and a lender under the facility, alongside International Seaways Operating Corporation Ltd., which serves as the primary borrower.

The filing identifies International Seaways, Inc. as the registrant, a Marshall Islands corporation with its principal executive offices at 600 Third Avenue in New York. The company is not designated as an emerging growth company. James D. Small III, Chief Administrative Officer, Senior Vice President, Secretary and General Counsel, signed the report on behalf of the registrant. The full text of the joinder agreement is included as Exhibit 10.1 to the current report.

The credit agreement structure involves subsidiary guarantors who are bound by the terms of the $500 million RCF and related loan documents. The specific vessel pledged by Liberty Tanker Company LLC is not named in the body of the 8-K but is defined by its function as a replacement for previously sold collateral. The filing clarifies that the description of the agreement is qualified by reference to the full text provided in the exhibit.

This transaction updates the collateral package for the existing debt facility rather than establishing new borrowing capacity. The substitution mechanism ensures that the lender group maintains the required security interests following the divestiture of a previous asset. The filing does not provide additional financial metrics or pricing details related to the specific VLCC tanker pledged.