Image: International Seaways announces sale of ownership interest in LNG joint venture. Photo: courtesy of Adam Radosavljevic from Pixabay. International Seaways, Inc. (NYSE: INSW) (the “Company” or “INSW”), one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets, announced today that the Company has sold its 49.9% ownership interest in its joint venture with Qatar Gas Transport Company Ltd. (Nakilat), which owns four liquefied natural gas (“LNG”) carriers to Nakilat for $123 million in cash.“Nakilat and INSW worked in partnership to conclude this transaction, demonstrating the high level of teamwork the companies have shared for over 15 years,” said Lois K. Zabrocky, International Seaways’ President and CEO. “Nakilat continues to be a very valued INSW partner and remains an important part of our ongoing commitment to our business relationships in Qatar. By monetizing our interest in the joint venture, we unlocked significant value for shareholders and further strengthened our balance sheet.”Jeff Pribor, the Company’s CFO, added “This important transaction positions INSW to further our capital allocation strategy. Following our success growing and renewing our fleet, deleveraging and returning cash to shareholders remain our top priorities.” Source: Company Press Release Transaction strengthens International Seaways’ balance sheet and furthers capital allocation strategy
FOOTBALL action continued Monday evening in the Corona Invitational football tournament with East Veldt staving off the challenge of Flamingo.At the GFC ground Bourda, the East Veldt side opened the scoring in the 4th minute thanks to Michael Charles with Flamingo’s Earl Samuels responding in the 27th to level the game.This stalemate stretched into halftime and threatened to be the end result but Travis Hercules broke the deadlock for the eventual winners.This opened the floodgates for the East Veldt with Cordel Johnson scoring just one minute later.In the second game of the evening, Camptown FC and Beacons played to a 1-1 stalemate.Jamal Codrington was on target for the Campbellville-based side with Travis Lyken on target for the.The third game also ended in a stalemate but just barely, as the GFC side held a one-goal advantage up until the final minute.Benjamin Abumchi was the man who had set the GFC crowd abuzz in the sixteenth minute as that goal carried them ahead into the second half.Whether it was tiredness or being too laid-back that cost them, they allowed Dwayne McLennon through in the 90+3 and he completed Western Tigers’ much-needed goal to continue their winning streak.Camptown FC will take on Black Pearl in the next round of fixtures on Friday with Northern Rangers and Flamingo playing the second game and Pele tackling Riddim Squad in the final game of the evening.