Top Seaways Shareholder Set to Vote No on Directors, Poison Pill

🌧️Trending News

Top International Seaways ($NYSE:INSW) is a shipping company that has been a leader in the industry for many years. Recently, news has surfaced that one of its major shareholders intends to cast a vote against the company’s directors and a proposed poison pill. This has raised concerns among investors about the potential future of the company. The proposed poison pill would allow Top International Seaways to issue new shares and dilute existing ones in order to protect the company from hostile takeover attempts. The major shareholder is reportedly not in favor of this measure as it would reduce their profits.

They have also expressed concerns about the current board of directors. The vote is expected to take place in the near future and it will be an important indicator of what is to come for Top International Seaways. If the major shareholder succeeds in their opposition, it could have significant consequences for the company and its shareholders. There are some analysts that believe that this could ultimately lead to an overhaul of the board of directors and a change in leadership.

Stock Price

Tuesday was a rough day for INTERNATIONAL SEAWAYS, as their stock opened at $37.3 and closed at $37.2, a decline of 1.7% from the prior closing price of 37.8. This drop in value was due to the company’s top shareholder, who is set to vote against the board of directors and the proposed poison pill against hostile takeovers. This marks a major shift in stance from the shareholder, who had previously been a strong proponent of the company’s strategy and direction.

The decision to vote against the board has created a significant level of uncertainty surrounding the long-term direction of INTERNATIONAL SEAWAYS and has caused investors to question the strategy and direction of the company going forward. With the shareholder’s vote looming, it remains to be seen how this will affect the future of the organization and what long-term measures may be necessary to ensure that it is successful in the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for International Seaways. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for International Seaways. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for International Seaways. More…

Key Ratios Snapshot

Some of the financial key ratios for International Seaways are shown below. More…

Analysis

GoodWhale has examined INTERNATIONAL SEAWAYS‘s financials, and based on our Risk Rating, it is a medium risk investment. Our users can access more detailed analysis of the company’s income sheets and balance sheets to get a better understanding of the risks associated with this investment. We have detected two risk warnings in INTERNATIONAL SEAWAYS’s income and balance sheets that our registered users can view for further insight. It is important for our users to understand the risks associated with a company, and GoodWhale’s risk rating and analysis is designed to provide them with the best possible information to make an informed decision. More…

Peers

The shipping industry is highly competitive, with International Seaways Inc competing against TORM PLC, Euronav NV, and Overseas Shipholding Group Inc. All four companies are major players in the industry, with a strong presence in the market. International Seaways Inc has a strong fleet of vessels and a strong financial position, which gives it a competitive advantage in the market.

– TORM PLC ($NASDAQ:TRMD)

SSE PLC is a British energy company headquartered in Perth, Scotland. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. The company has a market capitalisation of £2.45 billion as of May 2021 and a return on equity of 7.59% as of March 2021.

SSE PLC is an integrated energy company with operations in electricity generation, transmission, distribution and supply, as well as gas storage and distribution. The company’s customer base includes domestic and commercial customers, as well as industrial and power generation customers. SSE PLC is one of the “Big Six” energy suppliers in the United Kingdom.

– Euronav NV ($NYSE:EURN)

Euronav NV is a Belgium-based company engaged in the maritime transportation sector. The Company owns and operates a fleet of very large crude carriers (VLCCs), which are used to transport crude oil, as well as a number of product and chemical tankers. As of December 31, 2014, the Company’s VLCC fleet consisted of 32 vessels with a deadweight tonnage (DWT) of 9.7 million each. The Company operates its vessels through time charters, voyage charters and pool arrangements. The Company is also engaged in the crude oil tanker market through its investment in Tanker Investments Ltd. (TiL), which owns a VLCC and an Aframax.

– Overseas Shipholding Group Inc ($NYSE:OSG)

Overseas Shipholding Group, Inc. is one of the world’s leading energy transportation companies. They operate a modern fleet of tankers and product carriers that serve the crude oil and refined petroleum product shipping industries. The company is publicly traded on the New York Stock Exchange and is a member of the S&P 500 Index.

Summary

International Seaways is a shipping company whose largest shareholder recently voted against the election of new directors and the adoption of a poison pill. This has raised concerns among investors as to the company’s future prospects. Analysts suggest that due to International Seaways’ significant debt burden, the shareholder’s decision may be an indication of an unwillingness to increase its debt load or to provide further support in the face of potential risks.

Other analysts point out that the shareholder’s decision may also be a sign of confidence in the current directors and their ability to turn around the company’s performance. Therefore, investors should monitor International Seaways’ progress and ensure that any potential risks are adequately addressed.