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Diamond S Shipping Merger
On July 16, 2021, International Seaways completed its merger with Diamond S Shipping, creating a combined fleet of 102 ships, making us the 2nd largest U.S.-listed public tanker company by number of ships and the 3rd largest by deadweight capacity. At the time of the merger, the combined company had a market cap of approximately $1 billion. The diverse fleet gives us particular strength in the VLCC, Suezmax, Panamax/LR1 and MR segments.
Frequently Asked Questions:
What will the combined company be called?
International Seaways
Who is the new CEO/CFO?
Lois Zabrocky will be CEO of the new Company, Jeff Pribor will be CFO. All other senior positions will remain with the existing International Seaways personnel
What will be the logo painted on the ships?
The existing International Seaways logo
What pools will be operating the vessels?
Of the Diamond S vessels, the Suezmaxes will enter the Penfield pool. The MRs will be split between the Clean Product Tanker Alliance pool and Norient Product Pool. The heritage International Seaways fleet will not change.
If some ships are going into new pools, do I still speak to my old contacts about old claims?
For now yes, but please copy comm@intlseas.com
Have your banking details changed?
Who do I speak to now about S&P, TC etc. for the combined fleet?
The existing International Seaways staff will be maintaining this function, Derek Solon, David Siever and David Berry.
Who is my new point of contact? (both chartering and operations)
It depends on the ship. Voyage operations and chartering will be handled by the new pools. Of the Diamond S vessels, the Suezmaxes will enter the Penfield pool. The MRs will be split between CPTA and Norient. The heritage International Seaways fleet will not change. For old claims please contact your existing contact, but always with copy to comm@intlseas.com
Will Capital still be involved in the new company?
No, the relationship with Capital will be phased out as a result of this merger.
Will the ships be changing names?
Eventually yes, though this may not all be done immediately, some vessels will change promptly, others it will be at the most convenient time later without interrupting the trading of the vessels..
Will my time-chartered ship change technical management?
No, there are no technical management changes planned for vessels under time charter