International Seaways Inc
0.0 %
-27.09 %
Yet to be announced
Company Overview
International Seaways, Inc. owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments, Crude Tankers and Product Carriers. As of December 31, 2021, the company owned and operated 83 vessels, which include 12 chartered-in vessels.
Revenue Sources
International Seaways Inc's primary business is the transportation of crude oil and petroleum products. This is a legitimate business activity involving the transportation of physical commodities. While there is market risk involved, the company provides a real service and facilitates actual asset movement. This is not considered a haram business activity as it involves providing essential transportation services rather than gambling or prohibited products.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $225.19m | $136.71m | - | $12.5m | 0.00% | 9.14% |
| June 30, 2024 | $257.41m | $115.05m | - | $12.43m | 0.00% | 10.80% |
| March 31, 2024 | $274.4m | $132.87m | - | $12.89m | 0.00% | 9.70% |
| Dec. 31, 2023 | $250.73m | $117.52m | - | $14.08m | 0.00% | 11.98% |
Looking at the most recent four quarters of data, the company's interest expenses represent a significant portion of total expenses, ranging between 9-11% across quarters. This level of interest expense indicates that interest plays a material role in the company's operations and financing structure.
Operational Ethics
Based on available information from SEC filings and the company's public disclosures, there is no evidence of significant ongoing associations with entities involved in human rights violations. The company operates globally but maintains standard commercial relationships in its shipping operations.
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