International Seaways, Inc. 8-K

What Happened
International Seaways, Inc. reported on March 31, 2026 that an indirect wholly‑owned subsidiary, Hendricks Tanker Company LLC, executed a joinder agreement on March 27, 2026 to become a subsidiary guarantor under the Company's $500 million revolving credit facility (the "$500 Million RCF"). The joinder also adds a very large crude carrier (VLCC) owned by Hendricks as collateral — described in the credit documents as a Substitution Vessel replacing assets previously sold or released from the facility collateral pool. The $500 Million RCF was originally dated May 22, 2022 and has been amended several times; Nordea Bank Abp, New York Branch serves as administrative agent and collateral agent.

Key Details

• Joinder executed: March 27, 2026 by Hendricks Tanker Company LLC.
• Facility: $500 million revolving credit facility (originally dated May 22, 2022, with subsequent amendments).
• Collateral: a VLCC added to the secured collateral pool as a Substitution Vessel replacing previously released/sold assets.
• Filing: Joinder Agreement is furnished as Exhibit 10.1 to the Form 8‑K.

Why It Matters
This filing documents that a subsidiary has formally become a guarantor and that a vessel has been added to the secured collateral pool for the $500M facility. For investors, that means the company has maintained or adjusted the security supporting its existing credit line (but the filing does not report any change to the total committed facility amount or new borrowings). The addition of the VLCC could affect the lenders’ security position and the company’s financing flexibility; shareholders should note ongoing liens on specific vessels when assessing balance‑sheet encumbrances and liquidity.