Major Shareholder Reduces Stake by $34.4M; Fredriksen-linked Entities Sell 456K Shares
Summary
An amendment to Schedule 13D reveals that Famatown Finance Limited and related entities sold 456,362 shares of International Seaways common stock for approximately $34.4 million, reducing their beneficial ownership to 15.8%.
Key Events
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Significant Share Sale
Famatown Finance Limited, Greenwich Holdings Limited, and C.K. Limited collectively sold 456,362 shares of common stock in open market transactions on March 9 and March 10, 2026.
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Transaction Value
The total value of the shares sold amounted to approximately $34,463,500, with an average price of $75.615 per share on March 9 and $75.336 per share on March 10.
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Reduced Beneficial Ownership
Following these sales, the reporting persons beneficially own 7,810,494 shares, representing 15.8% of International Seaways' outstanding common stock, down from a previously higher stake.
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Fredriksen Family Trusts
The reporting entities are linked to trusts established by Mr. Fredriksen for the benefit of his immediate family, with C.K. Limited acting as trustee.
Analysis
This Schedule 13D/A filing indicates a significant reduction in ownership by Famatown Finance Limited, Greenwich Holdings Limited, and C.K. Limited, entities linked to the Fredriksen family trusts. The sale of over 456,000 shares, totaling approximately $34.4 million, represents a notable divestment by a major shareholder. While these are financial investors and sales can be for portfolio rebalancing, the size of the transaction is substantial and could be interpreted as a signal of reduced conviction or a need for liquidity. Investors should monitor future filings for further changes in their ownership stake.
At the time of this filing, INSW was trading at $66.74 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $27.20 to $78.51. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.