INSW · International Seaways, Inc.

0001104659-26-037866

Summary

An indirect wholly-owned subsidiary of International Seaways, Inc. entered into a joinder agreement on March 27, 2026, becoming a guarantor under the $500 Million RCF and pledging a VLCC tanker as substitution collateral.

Key takeaways

Indirect subsidiary entered Joinder Agreement to $500 Million RCF on March 27, 2026.
Subsidiary Hendricks Tanker Company LLC became subsidiary guarantor under the facility.
Pledged VLCC tanker Seaways Hendricks (IMO 9727015, built 2016) as collateral.
Vessel is Substitution Vessel replacing previously sold or released assets.
Credit Agreement originally dated May 22, 2022, amended through October 7, 2025.
Exhibit 10.1 contains full Joinder Agreement text.

Full analysis

The joinder maintains the collateral pool integrity of International Seaways' $500 Million Revolving Credit Facility following asset sales by adding Hendricks Tanker Company LLC as a guarantor and substituting the VLCC Seaways Hendricks (Marshall Islands flagged, built 2016). This routine compliance action under Section 5.15 of the Credit Agreement ensures ongoing facility availability without altering core terms, supporting operational liquidity in the tanker segment.