Major Shareholder Reduces Stake by $34.4M; Fredriksen-linked Entities Sell 456K Shares

summarizeSummary

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%.

check_boxKey Events

• 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.

• 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.

• 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.

• 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.

auto_awesomeAnalysis

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.