Lois K. Zabrocky, who serves as President and Chief Executive Officer of International Seaways, Inc. (NYSE:INSW), sold 2,000 shares of the company's common stock on February 17, 2026, according to a Form 4 filed with the Securities and Exchange Commission.
The disposition generated total proceeds of $127,919, based on a weighted average sale price of $63.9595 per share. The trades were executed in multiple transactions at prices ranging from $63.0600 to $64.5800. The filing states the trades were made pursuant to a Rule 10b5-1 trading plan that Zabrocky established on March 14, 2025. After the sale, Zabrocky directly holds 178,421 shares of International Seaways.
Separately, International Seaways announced it has sold or entered into agreements to sell five of its oldest vessels for approximately $185 million, net of commissions and fees. The divestment package comprises three MR product tankers with an average age of 18 years and two very large crude carriers (VLCCs) averaging 15 years in age.
The company did not disclose additional terms beyond the net proceeds and the average ages of the vessels in the announcement referenced in the filing.
Market notes included with the disclosure referenced industry coverage from BTIG. The brokerage firm raised its price target for Scorpio Tankers to $80 from $75 while maintaining a Buy rating, citing unexpectedly strong crude tanker spot rates. BTIG reported that crude tanker spot rates are averaging $100,000 year-to-date, nearly double the same period last year.
BTIG also noted strength in product tanker markets, with spot MR product rates averaging about $30,000 year-to-date, an increase of roughly 50% from the comparable period a year earlier. In addition, the research cited a separate price-target increase for DHT Holdings, with BTIG raising the target to $18 from $16 and keeping a Buy rating. The firm highlighted that VLCC spot rates are averaging $100,000 year-to-date and that vessels equipped with scrubbers are reportedly earning an additional $10,000.
These items together outline the recent insider selling by International Seaways' CEO, the company's disposal of older tonnage, and third-party analyst observations pointing to materially stronger spot rates across crude and product tanker segments.
Source documents referenced: Form 4 filing disclosing the CEO sale and the company's announcement regarding vessel sales, together with BTIG research notes cited in the company disclosures.