International Seaways has restored its $50m stock buyback programme as it reported slightly better than expected earnings for the fourth quarter.
The Manhattan-based, New York-listed owner of 84 crude and clean product tankers said it had refilled the repurchase authorisation to $50m after splashing out $25m in the year past.
This is at a time when public tanker shares are under pressure; many are trading near 52-week lows and at varying discounts to net asset values.
