Exhibit 99.1

INTERNATIONAL SEAWAYS REPORTS

FOURTH QUARTER AND FULL YEAR 2016 RESULTS

New York, NY – March 29, 2017 – 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, today reported results for the fourth quarter and full year 2016.

Highlights

“We are pleased to have successfully completed the separation of International Seaways from OSG and to begin our journey as an independent public company,” said Lois K. Zabrocky, International Seaways’ president and CEO. “During the quarter, we also received a letter of award on a five-year contract for our FSO joint ventures, and we continue with negotiations on that project.”

Ms. Zabrocky continued, “Looking forward, International Seaways has a diversified 55 vessel fleet positioned to optimize revenue through a balanced mix of contracted cash flows and spot market upside. Our lean and scalable model and low break-evens along with our strong financial position allow us to navigate through the volatility in the tanker cycle while providing significant operating leverage to take advantage of a market recovery. While we expect the year ahead to present a number of challenges, I am confident in the solid foundation we have built and the measures we continue to take to create a platform for success. We have a strong set of assets and capabilities along with the right people and strategies to effectively execute and drive shareholder value.”

Fourth Quarter 2016 Results

Consolidated TCE revenues for the fourth quarter of 2016 were $82.2 million, a decrease of $37.6 million, or 31%, compared with the fourth quarter of 2015. Shipping revenues for the fourth quarter of 2016 were $85.8 million, a decrease of $39.2 million compared with the fourth quarter of 2015.

Operating loss for the quarter was $47.8 million, compared to operating income of $49.9 million for the fourth quarter of 2015. The decrease reflects the impact of impairment charges of $60.1 million recorded in the current quarter, $5.6 million of separation and transition costs and the decline in TCE revenues referred to above.

^{A, B, C}Reconciliations of these non-GAAP financial measures are included in the financial tables attached to this press release starting on Page 10.

Net loss for the fourth quarter of 2016 was $57.8 million, or $1.98 per diluted share, compared with net income of $37.6 million, or $1.29 per diluted share in the fourth quarter of 2015.

Adjusted EBITDA was $37.5 million for the quarter, a decrease of $33.5 million compared with the fourth quarter of 2015, driven by lower daily rates.

International Crude Tankers

TCE revenues for the International Crude Tankers segment were $54.1 million for the quarter, down 36% compared with the fourth quarter of 2015. This decrease was primarily due to a decline in VLCC and Aframax rates, with spot rates declining to $32,100 and $15,100 per day, respectively, resulting in a $29.2 million decline in TCE revenues. Shipping revenues for the International Crude Tankers segment were $58.8 million for the quarter, down 34% compared with the fourth quarter 2015.

International Product Carriers

TCE revenues for the International Product Carriers segment were $27.5 million for the quarter, down 23% compared with the fourth quarter of 2015. This decrease was primarily due to a decline in MR spot rates, with spot rates declining to $10,800 per day. The decline in blended MR rates resulted in an $11.7 million decline in TCE revenues. This decrease was partially offset by increased revenue days in the LR1 and MR fleets due to fewer drydock and repair days, which accounted for a $3.9 million increase in TCE revenues. Shipping revenues for the International Product Carriers segment were $27.0 million for the quarter, down 25% compared with the fourth quarter 2015.

Full Year 2016 Results

Consolidated TCE revenues for the full year 2016 were $385.0 million, a decrease of $90.7 million, or 19%, compared with the full year 2015. Shipping revenues for the full year 2016 were $398.3 million, a decrease of $99.3 million compared with the full year 2015.

Operating income for the full year 2016 was $22.8 million, compared to operating income of $221.9 million for the full year 2015. The decrease reflects the impact of impairment charges of $109.7 million, $9.0 million of separation and transition costs and the decline in TCE revenues referred to above, partially offset by a decrease in general and administrative expenses of $9.9 million in 2016.

Net loss for the full year 2016 was $18.2 million, or $0.62 per diluted share, compared with net income of $173.2 million, or $5.94 per diluted share in the full year 2015.

Adjusted EBITDA was $222.0 million for the full year 2016, a decrease of $77.2 million compared with the full year 2015, driven by lower daily rates.

International Crude Tankers

TCE revenues for the International Crude Tankers segment were $258.2 million for the full year 2016, down 15% compared with the full year 2015. This decrease was primarily due to a decline in VLCC and Aframax rates, with spot rates declining to $42,000 and $21,300 per day, respectively, resulting in a $65.3 million decline in TCE revenues. This decrease was partially offset by increased revenue days in the VLCC and Aframax fleets due to fewer drydock and repair days, which accounted for a $11.6 million increase in TCE revenues, along with a $5.2 million increase in revenue resulting from the Company’s ULCC being taken out of lay-up in the first quarter of 2015. Shipping revenues for the International Crude Tankers segment were $271.8 million for the full year 2016, down 16% compared with the full year 2015.

International Product Carriers

TCE revenues for the International Product Carriers segment were $126.3 million for the full year 2016, down 26% compared with the full year 2015. This decrease was primarily due to a decline in MR spot rates, with spot rates declining to $13,100 per day. The decline in blended MR rates resulted in a $41.3 million decline in TCE revenues. Also contributing was a decrease in revenue days in the MR fleet due to the sale of a 1998-built MR in July 2015 as well as the redelivery of an MR to its owners at the expiry of its time charter in March 2015. Shipping revenues for the International Product Carriers segment were $126.6 million for the full year 2016, down 27% compared with the full year 2015.

Conference Call

The Company will host a conference call to discuss its fourth quarter and full year 2016 results at 9:00 a.m. Eastern Time (“ET”) on Wednesday, March 29, 2017.

To access the call, participants should dial (888) 317-6016 for domestic callers and (412) 317-6016 for international callers. Please dial in ten minutes prior to the start of the call.

A live webcast of the conference call will be available from the Investor Relations section of the Company’s website at http://www.intlseas.com/

An audio replay of the conference call will be available starting at 11:00 a.m. ET on Wednesday, March 29, 2017 through 10:59 p.m. ET on Wednesday, April 5, 2017 by dialing (877) 344-7529 for domestic callers and (412) 317-0088 for international callers, and entering Access Code 10103560.

About International Seaways, Inc.

International Seaways, Inc. (NYSE: INSW) is one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products in International Flag markets. International Seaways owns and operates a fleet of 55 vessels, including one ULCC, eight VLCCs, eight Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers. Through joint ventures, it has ownership interests in four liquefied natural gas carriers and two floating storage and offloading service vessels. International Seaways has an experienced team committed to the very best operating practices and the highest levels of customer service and operational efficiency. International Seaways is headquartered in New York City, NY. Additional information is available at www.intlseas.com.

Forward-Looking Statements

This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to the Company’s plans to issue dividends, its prospects, including statements regarding trends in the tanker markets, and possibilities of strategic alliances and investments. Forward-looking statements are based on the Company’s current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for the Company and in similar sections of other filings made by the Company with the SEC from time to time. The Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Company with the SEC.

Investor Relations & Media Contact:

Brian Tanner, International Seaways, Inc.

(212) 578-1645

btanner@intlseas.com

Consolidated Statements of Operations

($ in thousands, except per share amounts)

Consolidated Balance Sheets

($ in thousands)

 Consolidated Statements of Cash Flows

($ in thousands)

Spot and Fixed TCE Rates Achieved and Revenue Days

The following tables provides a breakdown of TCE rates achieved for spot and fixed charters and the related revenue days for the three months and fiscal year ended December 31, 2016 and the comparable periods of 2015. Revenue days in the quarter ended December 31, 2016 totaled 4,354 compared with 4,113 in the prior year quarter. Revenue days in the fiscal year ended December 31, 2016 totaled 17,420 compared with 17,192 in the prior year. A summary fleet list by vessel class can be found later in this press release.

Fleet Information

As of December 31, 2016, INSW’s owned and operated fleet totaled 55 vessels, 42 of which were owned and 7 of which were chartered in. In addition, through joint venture partnerships, INSW has ownership interest in 2 FSO and 4 LNG vessels. Those figures include vessels in which the Company has a partial ownership interest through its participation in joint ventures.

Reconciliation to Non-GAAP Financial Information

The Company believes that, in addition to conventional measures prepared in accordance with GAAP, the following non-GAAP measures may provide certain investors with additional information that will better enable them to evaluate the Company’s performance. Accordingly, these non-GAAP measures are intended to provide supplemental information, and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP.

^(A) Time Charter Equivalent (TCE) Revenues

Consistent with general practice in the shipping industry, the Company uses TCE revenues, which represents shipping revenues less voyage expenses, as a measure to compare revenue generated from a voyage charter to revenue generated from a time charter. Time charter equivalent revenues, a non-GAAP measure, provides additional meaningful information in conjunction with shipping revenues, the most directly comparable GAAP measure, because it assists Company management in making decisions regarding the deployment and use of its vessels and in evaluating their financial performance. Reconciliation of TCE revenues of the segments to shipping revenues as reported in the consolidated statements of operations follow:

^(B) EBITDA and Adjusted EBITDA

EBITDA represents net (loss)/income before interest expense, income taxes and depreciation and amortization expense. Adjusted EBITDA consists of EBITDA adjusted for the impact of certain items that we do not consider indicative of our ongoing operating performance. EBITDA and Adjusted EBITDA do not represent, and should not be a substitute for, net (loss)/income or cash flows from operations as determined in accordance with GAAP. Some of the limitations are: (i) EBITDA and Adjusted EBITDA do not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments; (ii) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, our working capital needs; and (iii) EBITDA and Adjusted EBITDA do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on our debt. While EBITDA and Adjusted EBITDA are frequently used as a measure of operating results and performance, neither of them is necessarily comparable to other similarly titled captions of other companies due to differences in methods of calculation. The following table reconciles net (loss)/income as reflected in the consolidated statements of operations, to EBITDA and Adjusted EBITDA:

^(C) Total Cash