International Seaways reported a fourth-quarter and full-year loss in it first earnings report as a separate company from its former parent Overseas Shipholding Group.
But chief executive Lois Zabrocky said the company can withstand the current tanker cycle due to its low operating costs and room on the balance sheet for potential acquisitions.
International Seaways is "starting with a tanker fleet of scale, a strong balance sheet and dedicated employees," Zaborcky said in her first conference call with analysts.
