International Seaways (INSW) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 07, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	International Seaways, Inc.
Entity Central Index Key	1,679,049
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		29,089,865
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 73,390	$ 92,001
Voyage receivables, including unbilled of $48,638 and $61,416	58,764	66,918
Other receivables	4,608	5,302
Inventories	1,659	1,338
Prepaid expenses and other current assets	6,155	5,350
Total Current Assets	144,576	170,909
Vessels and other property, less accumulated depreciation of $420,951 and $387,570	1,161,767	1,100,050
Deferred drydock expenditures, net	35,330	30,557
Total Vessels, Deferred Drydock and Other Property	1,197,097	1,130,607
Investments in and advances to affiliated companies	380,718	358,681
Other assets	1,934	2,324
Total Assets	1,724,325	1,662,521
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	24,210	38,237
Payable to OSG	285	683
Current installments of long-term debt	13,750	6,183
Total Current Liabilities	38,245	45,103
Long-term debt	511,948	433,468
Other liabilities	5,046	4,438
Total Liabilities	555,239	483,009
Commitments and contingencies
Equity:
Capital - 100,000,000 no par value shares authorized; 29,089,865 and 29,189,454 shares issued and outstanding	1,305,531	1,306,236
Accumulated deficit	(89,825)	(74,457)
Stockholders Equity Subtotal	1,215,706	1,231,779
Accumulated other comprehensive loss	(46,620)	(52,267)
Total Equity	1,169,086	1,179,512
Total Liabilities and Equity	$ 1,724,325	$ 1,662,521

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
CONSOLIDATED BALANCE SHEETS [Abstract]
Unbilled contracts receivable (in dollars)	$ 48,638	$ 61,416
Vessels and other property, accumulated depreciation	$ 420,951	$ 387,570
Common stock, shares authorized	100,000,000	100,000,000
Common stock, no par value	$ 0	$ 0
Common stock, shares, issued	29,089,865	29,189,454
Common stock, shares, outstanding	29,089,865	29,189,454

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Shipping Revenues:
Pool revenues, including $5,530, $6,166, $13,946 and $30,282 from companies accounted for by the equity method	$ 37,798	$ 42,854	$ 129,910	$ 200,088
Time and bareboat charter revenues	12,024	24,012	43,816	74,355
Voyage charter revenues	10,146	13,905	46,949	38,066
Shipping revenues	59,968	80,771	220,675	312,509
Operating Expenses:
Voyage expenses	3,479	3,605	10,774	9,679
Vessel expenses	37,095	35,401	106,196	104,939
Charter hire expenses	9,958	9,613	32,345	26,422
Depreciation and amortization	20,528	20,376	58,243	60,482
General and administrative	6,603	7,732	18,143	23,643
Third-party debt modification fees	1,191		9,130
Separation and transition costs	(543)	2,162	488	3,425
Gain on disposal of vessels and other property	5,406	49,640	5,406	49,469
Total operating expenses	83,717	128,529	240,725	278,059
(Loss)/income from vessel operations	(23,749)	(47,758)	(20,050)	34,450
Equity in income of affiliated companies	12,796	12,488	40,268	36,093
Operating (loss)/income	(10,953)	(35,270)	20,218	70,543
Other income/(expense)	190	(2,244)	(6,484)	(1,003)
(Loss)/income before interest expense, reorganization items and income taxes	(10,763)	(37,514)	13,734	69,540
Interest expense	(11,030)	(9,519)	(29,071)	(29,951)
(Loss)/income before reorganization items and income taxes	(21,793)	(47,033)	(15,337)	39,589
Reorganization items, net		(3,849)		102
(Loss)/income before income taxes	(21,793)	(50,882)	(15,337)	39,691
Income tax (provision)/benefit	(23)	20	(31)	(157)
Net (loss)/income	$ (21,816)	$ (50,862)	$ (15,368)	$ 39,534
Weighted Average Number of Common Shares Outstanding:
Basic	29,202,437	29,157,387	29,192,392	29,157,387
Diluted	29,202,437	29,157,387	29,192,392	29,157,387
Per Share Amounts:
Basic and diluted net (loss)/income per share	$ (0.75)	$ (1.74)	$ (0.53)	$ 1.36

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Pool revenues, received from companies accounted for by the equity method	$ 5,530	$ 6,166	$ 13,946	$ 30,282

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net (Loss)/Income	$ (21,816)	$ (50,862)	$ (15,368)	$ 39,534
Other Comprehensive (Loss)/Income, net of tax:
Net change in unrealized losses on cash flow hedges	2,426	6,263	6,678	(1,175)
Defined benefit pension and other postretirement benefit plans:
Net change in unrecognized prior service costs	(32)	45	(92)	173
Net change in unrecognized actuarial losses	(327)	305	(939)	1,176
Other Comprehensive Income/(Loss), net of tax	2,067	6,613	5,647	174
Comprehensive (Loss)/Income	$ (19,749)	$ (44,249)	$ (9,721)	$ 39,708

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities:
Net income	$ (15,368)	$ 39,534
Items included in net income not affecting cash flows:
Depreciation and amortization	58,243	60,482
Loss on write-down of vessels	7,346	49,640
Amortization of debt discount and other deferred financing costs	5,159	4,652
Deferred financing costs write-off	7,020	5,097
Direct and allocated stock compensation, non-cash	2,733	2,157
Undistributed earnings of affiliated companies	(40,388)	(36,743)
Allocated reorganization items, non-cash		(102)
Other - net	132
Items included in net income related to investing and financing activities:
Gain on disposal of vessels and other property	(1,940)	(171)
Allocated general and administrative expenses recorded as capital contributions		1,220
Discount on repurchase of debt		(3,755)
Payments for drydocking	(19,787)	(4,933)
Deferred financing costs paid for loan modification		(8,273)
Changes in operating assets and liabilities:
Decrease in receivables	8,154	24,005
Decrease in payable to OSG	(398)	(2,261)
Decrease in deferred revenue	(3,960)
Net change in inventories, prepaid expenses and other current assets and accounts payable, accrued expense, and other current and long-term liabilities	(10,627)	625
Net cash (used in)/provided by operating activities	(3,681)	131,174
Cash Flows from Investing Activities:
Decrease in restricted cash		8,989
Expenditures for vessels and vessel improvements	(118,369)	(591)
Proceeds from disposal of vessels and other property	7,662
Expenditures for other property	(406)	(72)
Investments in and advances to affiliated companies	(1,880)	(987)
Repayments of advances from affiliated companies	26,500	18,500
Net cash (used in)/provided by investing activities	(86,493)	25,839
Cash Flows from Financing Activities:
Issuance of debt, net of issuance and deferred financing costs	584,963
Payments on debt	(458,416)	(65,167)
Extinguishment of debt	(51,546)	(88,520)
Dividend payments to OSG		(202,000)
Cash paid to tax authority upon vesting of stock-based compensation	(261)	(26)
Repurchases of common stock	(3,177)
Net cash provided by/(used in) financing activities	71,563	(355,713)
Net decrease in cash and cash equivalents	(18,611)	(198,700)
Cash and cash equivalents at beginning of year	92,001	308,858
Cash and cash equivalents at end of period	$ 73,390	$ 110,158

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Common Stock [Member]Restricted Stock [Member]	Common Stock [Member]Restricted Stock Units (RSUs) [Member]	Common Stock [Member]	Retained Earnings / (Accumulated deficit) [Member]	Accumulated Other Comprehensive Loss [Member]	Restricted Stock [Member]	Restricted Stock Units (RSUs) [Member]	Total
Balance, beginning at Dec. 31, 2015			$ 1,355,329	$ 92,581	$ (64,124)			$ 1,383,786
Net income				39,534				39,534
Dividend to OSG			(53,185)	(148,815)				(202,000)
Other comprehensive income (loss)					174			174
Capital contribution of OSG, net			3,275					3,275
Balance, ending at Sep. 30, 2016			1,305,419	(16,700)	(63,950)			1,224,769
Balance, beginning at Jun. 30, 2016					(70,563)
Net income								(50,862)
Other comprehensive income (loss)								6,613
Balance, ending at Sep. 30, 2016			1,305,419	(16,700)	(63,950)			1,224,769
Balance, beginning at Dec. 31, 2016			1,306,236	(74,457)	(52,267)			1,179,512
Net income				(15,368)				(15,368)
Other comprehensive income (loss)					5,647			5,647
Forfeitures of vested restricted stock awards			(261)					(261)
Compensation relating to stock option awards			643					643
Compensation relating to restricted stock units or restricted stock awards	$ 643	$ 1,447				$ 643	$ 1,447
Repurchase of Common Stock			(3,177)					(3,177)
Balance, ending at Sep. 30, 2017			1,305,531	(89,825)	(46,620)			1,169,086
Balance, beginning at Jun. 30, 2017					(48,687)
Net income								(21,816)
Other comprehensive income (loss)								2,067
Balance, ending at Sep. 30, 2017			$ 1,305,531	$ (89,825)	$ (46,620)			$ 1,169,086

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Basis of Presentation [Abstract]
Basis of Presentation	Note 1 — Basis of Presentation: Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of International Seaways, Inc. (“INSW”), a Marshall Islands corporation, and its wholly owned subsidiaries. The Company owns and operates a fleet of 56 oceangoing vessels, including seven vessels that have been chartered-in under operating leases and six vessels in which the Company has interests through its joint venture partnerships, engaged primarily in the transportation of crude oil and refined petroleum products in the International Flag trade through its wholly owned subsidiaries. In addition, during October 2017, the Company entered into agreement s to (i) purchase a 2010-built VLCC tanker, which was delivered in November 2017; and (ii) sell a 2004-built MR and a 2002-built MR, which will be deliver ed to buyers during the fourth quarter of 2017 and the first quarter of 2018, respectively, ( s ee Note 5, “Vessels”). Unless context indicates otherwise, references to “INSW”, the “Company”, “we”, “us” or “our”, refer to International Seaways, Inc. and its subsidiaries.  The accompanying unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2016 include the revenues and expenses of the individual entities that comprise INSW carved out from the historical results of operations and cash flows of its former parent, Overseas Shipholding Group, Inc. (“OSG”), for these entities using both specific identification and allocation . Following our spin-off from OSG on November 30, 2016, we now perform functions previously performed by OSG using internal resources and purchased services, some of which were being provided by OSG during a transitional period that ended on June 30, 2017 pursuant to a transition services agreement between INSW and OSG. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and notes required by generally accepted accounting principles in the United States. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the results have been included. Operating results for the three and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.  The condensed consolidated balance sheet as of December 31, 2016 has been derived from the audited financial statements at that date but does not include all of the information and notes required by generally accepted accounting principles in the United States for complete financial statements. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.  All intercompany balances and transactions within INSW have been eliminated. Investments in 50% or less owned affiliated companies, in which INSW exercises significant influence, are accounted for by the equity method. Certain prior year amounts have been reclassified to conform to the current year presentation, specifically, in relation to the adoption of ASU No. 2016-09, as described further below in Note 2, “Significant Accounting Policies.” Dollar amounts, except per share amounts are in thousands.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note 2 — Significant Accounting Policies: Cash, cash equivalents and Restricted cash — Interest-bearing deposits that are highly liquid investments and have a maturity of three months or less when purchased are included in cash and cash equivalents. The 2017 Debt Facilities (as defined in Note 9, “Debt”) stipulate that net cash proceeds of any INSW asset sale or casualty event exceeding $5,000 , are restricted and required to be reinvested in fixed or capital assets within twelve months of such sale or casualty event or used to repay the principal balance outstanding on the 2017 Debt Facilities.  Concentration of Credit Risk — Financial instruments that potentially subject the Company to concentrations of credit risk are voyage receivables due from charterers and pools in which the Company participates. During the three and nine months periods ended September 30, 2017 and 2016, the Company did not have any individual customers who accounted for 10% or more of its revenues apart from the pools in which it participates. The pools in which the Company participates accounted in aggregate for 72% and 90% of consolidated voyage receivables at September 30, 2017 and December 31, 2016, respectively. Deferred finance charges — Finance charges , excluding original issue discount, incurred in the arrangement or amendments resulting from the modification of debt are deferred and amortized to interest expense on either an effective interest method or straight-line basis over the life of the related debt. Unamortized deferred finance charges of $587 and $1,691 relating to the 2017 Revolver Facility and the INSW Revolver Facility (as defined in Note 9) are included in other assets in the condensed consolidated balance sheets as of September 30, 2017 and December 31, 2016, respectively. Unamortized deferred financing charges of $24,302 and $19,827 relating to the 2017 Term Loan Facility and the INSW Term Loan (as defined in Note 9) are included in long-term debt in the condensed consolidated balance sheets as of September 30, 2017 and December 31, 2016, respectively. Interest expense relating to the amortization of deferred financing charges amounted to $652 and $4,452 for the three and nine months ended September 30, 2017, respectively and $1,484 and $4,501 for the three and nine months ended September 30, 2016, respectively .  Recently Adopted Accounting Standards — In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting (ASC 718), which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification in the statement of cash flows. The standard is effective for annual periods beginning after December 31, 2016 and interim periods within that reporting period. As a result of the adoption of this accounting standard, effective January 1, 2017, the Company elected to account for forfeitures of share-based payments as they occur. The adoption of this accounting policy had no impact on the Company’s consolidated financial statements since management’s estimate of the forfeiture rate on share-based payment awards granted prior to January 1, 2017 was zero . In addition, the adoption of this accounting standard resulted in the presentation of $261 and $26 of cash paid to the tax authorities for shares withheld to satisfy the Company’s statutory income tax withholding obligations as a financing cash outflow in the condensed consolidated sta tement of cash flows for the nine-months ended September 30, 2017 and 2016, respectively.  Recently Issued Accounting Standards — In September 2017, the FASB issued ASU 2017-13, Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments , which allows certain public business entities (“PBEs”) that otherwise would not meet the definition of a public business entity except for a requirement to include its financial statements or financial information in another entity’s filings with the SEC, to elect to use non-PBE transition dates for the sole purpose of adopting ASU No. 2016-02, Leases (ASC 842), and ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606). Accordingly, all financial statements or financial information of the Company’s FSO and LNG joint ventures that may be included in the Company’s filings with the SEC pursuant to SEC Regulation S-X Rule 4-08(g), Summarized Financial Information of Subsidiaries Not Consolidated and 50 Percent or Less Owned Persons, and/or SEC Regulation S-X Rule 3-09, Separate Financial Statements of Subsidiaries Not Consolidated and 50 Percent or Less Owned Persons, will likely not reflect the adoptions of ASC 606 and ASC 842 until January 1, 2019 and January 1, 2020, respectively.  In August 2017, the FASB issued ASU 2017-12 , Derivatives and Hedging (ASC 815 ) , which makes more financial and nonfinancial hedging strategies eligible for hedge accounting, amends the presentation and disclosure requirements, and changes how companies assess effectiveness. It is intended to more closely align hedge accounting with companies’ risk management strategies, simplify the application of hedge accounting, and increase transparency as to the scope and results of hedging programs. T he new guidance permits a qualitative effectiveness assessment for certain hedges instead of a quantitative test after initial qualification if the company can reasonably support an expectation of high effectiveness throughout the term of the hedge. An initial quantitative test to establish that the hedge relationship is highly effective is still required. For cash flow hedges, if the hedge is highly effective, all changes in the fair value of the derivative hedging instrument will be recorded in other comprehensive income. They will be reclassified to earnings when the hedged item impacts earnings. On the other hand, for fair value hedges, because the change in fair value of the hedged item and the derivative hedging instrument will still be recorded in current earnings, if the hedge is not 100% effective there will be an income statement impact. The standard will be effective for interim and annual periods beginning after December 31, 2018 and early adoption is permitted. Management does not expect the adoption of this accounting standard to have a material impact on the Company’s consolidated financial statements.  I n May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (ASC 718) , which provides guidance in regards to a change to the terms or conditions of a share-based payment award. An entity is required to account for the effects of a modification unless all the following are met: (1) the fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified; (2) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; (3) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The standard will be effective for interim and annual periods beginning after December 31, 2017 and early adoption is permitted. The guidance is to be applied prospectively to an award modified on or after the adoption date. Management does not expect the adoption of this accounting standard to have a material impact on the Company’s consolidated financial statements.  In March 2017, the FASB issued ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (ASC 715), which requires that an employer classify and report the service cost component in the same line item or items in the statement of operations as other compensation costs arising from services rendered by the pertinent employees during the period and disclose by line item in the statement of operations the amount of net benefit cost that is included in the statement of operations. The other components of net benefit cost would be presented in the statement of operations separately from the service cost component and outside the subtotal of income from operations. The standard will be effective for interim and annual periods beginning after December 31, 2017 and early adoption is permitted. The guidance requires application using a retrospective transition method. Management does not expect the adoption of this accounting standard to have a material impact on the Company’s consolidated financial statements.  In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (ASC 230): Restricted Cash , which requires that amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The standard is effective for annual periods beginning after December 31, 2017 and interim periods within that reporting period with early adoption permitted. Management does not expect the adoption of this accounting standard to have a material impact on the Company’s condensed consolidated statements of cash flows.  In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (ASC 230), which amends the guidance in ASC 230 on the classification of certain cash receipts and payments in the statement of cash flows. The primary purpose of the ASU is to reduce the diversity in practice that has resulted from the lack of consistent principles on this topic with respect to (1) debt prepayment or debt extinguishment costs; (2) settlement of zero-coupon debt; (3) contingent consideration payments made after a business combination; (4) proceeds from the settlement of insurance claims; (5) proceeds from the settlement of corporate-owned life insurance policies; (6) distributions received from equity method investees; (7) beneficial interests in securitization transactions; and (8) separately identifiable cash flows and application of the predominance principle. The standard will be effective for interim and annual periods beginning after December 31, 2017 and early adoption is permitted. The guidance requires application using a retrospective transition method. We currently anticipate adopting the standard for classification of distributions received from equity method investees using the cumulative equity earnings approach, which will result in the retrospective reclassification of distributions received from certain affiliated companies accounted for by the equity method, from investing activities to operating activities. Management does not expect the adoption of other provisions of this accounting standard to have a material impact on the Company’s consolidated financial statements.  In February 2016, the FASB issued ASU No. 2016-02, Leases (ASC 842), which requires lessees to recognize most leases on the balance sheet. This is expected to increase both reported assets and liabilities. The standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. The requirements of this standard include a significant increase in required disclosures. Management is analyzing the impact of the adoption of this guidance on the Company’s condensed consolidated financial statements, including assessing changes that might be necessary to information technology systems, processes and internal controls to capture new data and address changes in financial reporting. Management expects that the Company will recognize increases in reported amounts for property, plant and equipment and related lease liabilities upon adoption of the new standard.  In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606), a standard that will supersede virtually all of the existing revenue recognition guidance in U.S. GAAP. The standard establishes a five-step model that will apply to revenue earned from a contract with a customer. The standard’s requirements will also apply to the sale of some non-financial assets that are not part of an entity’s ordinary activities (e.g., sales of property or plant and equipment). Extensive disclosures will be required, including disaggregation of total revenue, information about performance obligations, changes in contract asset and liability account balances between periods and key judgments and estimates. The FASB has issued several amendments to the standard, including clarification of the accounting for licenses of intellectual property and identifying performance obligations. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). The new standard will be effective for us beginning January 1, 2018 and could have a material impact on the Company’s consolidated financial statements. We anticipate adopting the standard using the cumulative catch-up transition method. We have undertaken a comprehensive approach to assessing the impact of the guidance on our business by reviewing our current accounting policies and practices to identify any potential differences that may result from applying the new requirements to our consolidated financial statements. We are continuing to consult with other shipping companies on business assumptions, processes, systems and controls to determine revenue recognition and disclosure under the new standard. We have made significant progress on our review of this standard, the results of which indicate that (i) the timing and recognition of earnings from the pool arrangements and time charter/bareboat charter-out contracts to which the Company is party may not change significantly from current practice; (ii) there may be a change in the timing of revenue recognition under spot voyage contracts and our lightering business that may have a material impact on the Company’s consolidated financial statements, depending on the number of spot voyages we have in progress at December 31, 2017, which cannot be reasonably estimated at this time (although at September 30, 2017, only one of the Company’s vessels operated on spot voyage charters); (iii) there will be a significant expansion of required disclosures regarding revenue recognition, including a requirement to disclose the portion of total revenues recognized in accordance with other standards such as ASC 840, Leases ; and (iv) the use of time charter equivalent (“TCE”) revenues as a means of measuring performance and comparing results amongst shipping industry participants could become more challenging. Our reviews and assessments of our contracts with customers have been substantially completed and the remaining phases of implementation include (i) the drafting of sample disclosures to identify any remaining information gaps; (ii) the quantification of the cumulative catch-up adjustment that will be recognized on January 1, 2018, which cannot be done until the first quarter of 2018; (iii) testing of the operating effectiveness of internal controls related to the implementation of this standard ; and (iv) the completion of our evaluation of any accounting system changes that may be required to facilitate the gathering of information required for the presentation and disclosure requirements of ASC 606 . 

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Sep. 30, 2017
Earnings per Common Share [Abstract]
Earnings per Common Share	Note 3 — Earnings per Common Share:  Basic earnings per common share is computed by dividing earnings, after the deduction of dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share assumes the issuance of common stock for all potentially dilutive stock options and restricted stock units not classified as participating securities. Participating securities are defined by ASC 260, Earnings Per Share , as unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents and are included in the computation of earnings per share pursuant to the two-class method. There were 38,938 and 34,844 weighted average shares of unvested restricted common stock considered to be participating securities for the three and nine months ended September 30, 2017, respectively and no unvested restricted common stock considered to be participating securities for the three and nine months ended September 30, 2016. Such participating securities are allocated a portion of income, but not losses under the two-class method. As of September 30, 2017, there were 155,345 shares of restricted stock units and 275,830 stock options outstanding and considered to be potentially dilutive securities. The components of the calculation of basic earnings per share and diluted earnings per share are as follows:     Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Net (loss)/income $ (21,816) $ (50,862) $ (15,368) $ 39,534   Weighted average common shares outstanding:  Basic 29,202,437 29,157,387 29,192,392 29,157,387  Diluted 29,202,437 29,157,387 29,192,392 29,157,387  Reconciliations of the numerator of the basic and diluted earnings per share computations are as follows:      Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Net (loss)/income allocated to:  Common Stockholders $ (21,816) $ (50,862) $ (15,368) $ 39,534  Participating securities - - - -  $ (21,816) $ (50,862) $ (15,368) $ 39,534  For the three and nine months ended September 30, 2017 and 2016 earnings per share calculations, there were no dilutive equity awards outstanding. Awards of 426,196 and 367,033 for the three and nine months ended September 30, 2017, respectively, were not included in the computation of diluted earnings per share because inclusion of these awards would be anti-dilutive.

Business and Segment Reporting

Business and Segment Reporting	9 Months Ended
	Sep. 30, 2017
Business and Segment Reporting [Abstract]
Business and Segment Reporting	Note 4 — Business and Segment Reporting: The Company has two reportable segments: Crude Tankers and Product Carriers. The joint ventures with two floating storage and offloading service vessels are included in the Crude Tankers Segment. The joint venture with four LNG Carriers is included in Other. Adjusted income/(loss) from vessel operations for segment purposes is defined as income/(loss) from vessel operations before general and administrative expenses, third-party debt modification fees, separation and transition costs and loss on disposal of vessels and other property , including impairments . The accounting policies followed by the reportable segments are the same as those followed in the preparation of the Company’s condensed consolidated financial statements. Information about the Company’s reportable segments as of and for the three and nine months ended September 30, 2017 and 2016 follows:     Crude Product  Tankers Carriers Other Totals  Three months ended September 30, 2017:  Shipping revenues $ 38,318 $ 21,650 $ - $ 59,968  Time charter equivalent revenues 34,905 21,584 - 56,489  Depreciation and amortization 14,798 5,696 34 20,528  Loss on disposal of vessels and other property,  including impairments 4,565 841 - 5,406  Adjusted loss from vessel operations (5,823) (5,268) (1) (11,092)  Equity in income of affiliated companies 8,901 - 3,895 12,796  Investments in and advances to affiliated companies  at September 30, 2017 269,521 16,651 94,546 380,718  Adjusted total assets at September 30, 2017 1,159,936 393,774 94,172 1,647,882   Three months ended September 30, 2016:  Shipping revenues $ 53,532 $ 27,239 $ - $ 80,771  Time charter equivalent revenues 50,156 27,010 - 77,166  Depreciation and amortization 13,265 6,885 226 20,376  Loss on disposal of vessels and other property,  including impairments 4,315 45,325 - 49,640  Adjusted income/(loss) from vessel operations 13,428 (1,575) (77) 11,776  Equity in income of affiliated companies 9,321 - 3,167 12,488  Investments in and advances to affiliated companies  at September 30, 2016 287,303 15,241 60,700 363,244  Adjusted total assets at September 30, 2016 1,087,118 448,495 60,700 1,596,313      Crude Product  Tankers Carriers Other Totals  Nine months ended September 30, 2017:  Shipping revenues $ 146,124 $ 74,551 $ - $ 220,675  Time charter equivalent revenues 136,695 73,206 - 209,901  Depreciation and amortization 41,149 16,994 100 58,243  Loss on disposal of vessels and other property,  including impairments 4,565 841 - 5,406  Adjusted income/(loss) from vessel operations 19,672 (6,406) (149) 13,117  Equity in income of affiliated companies 29,074 - 11,194 40,268  Expenditures for vessels and vessel improvements 117,576 793 - 118,369  Payments for drydockings 16,005 3,782 - 19,787   Nine months ended September 30, 2016:  Shipping revenues $ 212,907 $ 99,602 $ - $ 312,509  Time charter equivalent revenues 204,059 98,771 - 302,830  Depreciation and amortization 39,225 20,523 734 60,482  Loss on disposal of vessels and other property,  including impairments 4,114 45,325 30 49,469  Adjusted income from vessel operations 96,312 14,581 94 110,987  Equity in income of affiliated companies 27,312 - 8,781 36,093  Expenditures for vessels and vessel improvements 57 534 - 591  Payments for drydockings 3,541 1,392 - 4,933  Reconciliations of time charter equivalent (“TCE”) revenues of the segments to shipping revenues as reported in the condensed statements of operations follow:      Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Time charter equivalent revenues $ 56,489 $ 77,166 $ 209,901 $ 302,830  Add: Voyage expenses 3,479 3,605 10,774 9,679  Shipping revenues $ 59,968 $ 80,771 $ 220,675 $ 312,509  Consistent with general practice in the shipping industry, the Company uses time charter equivalent 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.  Reconciliations of adjusted (loss)/income from vessel operations of the segments to (loss)/income before income taxes, as reported in the condensed consolidated statements of operations follow:    Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Total adjusted (loss)/income from vessel operations  of all segments $ (11,092) $ 11,776 $ 13,117 $ 110,987  General and administrative expenses (6,603) (7,732) (18,143) (23,643)  Third-party debt modification fees (1,191) - (9,130) -  Separation and transition costs 543 (2,162) (488) (3,425)  Loss on disposal of vessels and other property,  including impairments (5,406) (49,640) (5,406) (49,469)  Consolidated (loss)/income from vessel operations (23,749) (47,758) (20,050) 34,450  Equity in income of affiliated companies 12,796 12,488 40,268 36,093  Other income/(expense) 190 (2,244) (6,484) (1,003)  Interest expense (11,030) (9,519) (29,071) (29,951)  Reorganization items, net - (3,849) - 102  (Loss)/income before income taxes $ (21,793) $ (50,882) $ (15,337) $ 39,691  Reconciliations of total assets of the segments to amounts included in the condensed consolidated balance sheets follow:    As of September 30, 2017 2016  Total assets of all segments $ 1,647,882 $ 1,596,313  Corporate unrestricted cash and cash equivalents 73,390 110,158  Other unallocated amounts 3,053 2,840  Consolidated total assets $ 1,724,325 $ 1,709,311 

Vessels

Vessels	9 Months Ended
	Sep. 30, 2017
Vessels [Abstract]
Vessels	Note 5 — Vessels: Vessel Impairments The Company gave consideration as to whether events or changes in circumstances had occurred since December 31, 2016 that could indicate that the carrying amounts of the vessels in the Company’s fleet may not be recoverable as of September 30, 2017. Factors considered included declines in valuations during 2017 for vessels of certain sizes and ages, any negative changes in forecasted near term charter rates and an increase in the likelihood that the Company will sell certain of its vessels before the end of their estimated useful lives in conjunction with the Company’s fleet renewal program. The Company concluded that the increased likelihood of disposal prior to the end of their respective useful lives constituted impairment trigger events for one Panamax and two MRs t hat were being actively marketed for sale as of September 30, 2017. In regards to the vessels in the Company’s fleet that are not currently being marketed for sale, the Company determined that the negative market developments noted above did not rise to the level of impairment triggering events as of September 30, 2017. If such declines continue for a protracted period of time or worsen, we will re-evaluate whether these changes in industry conditions constitute impairment triggers for additional vessels in the Company’s fleet. In developing estimates of undiscounted future cash flows for performing Step 1 of the impairment tests, the Company utilized weighted probabilities assigned to possible outcomes for each of the three vessels for which impairment trigger events were determined to exist. The Company entered into a memorandum of agreement for the sale of one of the two MRs in October 2017, with a scheduled delivery to buyers during the fourth quarter of 2017 . Accordingly, a 100% probability was attributed to the vessel being sold before the end of its useful life. As the Company is considering selling the other two vessels as a part of its fleet renewal program, 50 % probabilities were assigned to the possibility that the vessels will be sold prior to the end of their respective useful lives . In estimating the fair value of the vessels for the purposes of S tep 2 of the impairment tests, the Company considered the market and income approaches by using a combination of third party appraisals , the sales price per the memorandum of agreement discussed above, and discounted cash flow models prepared by the Company . Based on the tests performed, the sum of the undiscounted cash flows for each of the three vessels was less than its carrying value as of September 30, 2017. Accordingly, impairment charges totaling $7,346 were recor ded on the three vessels to write-down their carrying values to their estimated fair values , which were determined using the market approach, at September 30, 2017. Vessel Acquisitions and Deliveries During the quarter ended September 30, 2017, the Company acquired two 2017-built Suezmax tankers for an aggregate price of $116,000 . Both vessels were delivered in July 2017. In October 2017, the Company entered into a memorandum of agreement for the acquisition of a 2010-built VLCC tanker for a pr ice of $53,000 . The vessel was delivered in November 2017 . Vessel Sales During the three and nine months ended September 30, 2017, the Company sold a 2001-built MR , which was delivered to buyers in August 2017 . A gain of $1,940 was re cognized on the sale of this vessel during the three and nine months ended September 30, 2017. In October 2017, t he Company entered into two memorandum s of agreement for the sale of a 2004-built MR (which is referenced in the “Vessel Impairments” section above) and a 2002-built MR, which are scheduled to be delivered to buyers during the fourth quarter of 2017 and the first quarter of 2018, respectively. The vessels did not meet the criteria for being classified as assets held for sale as of September 30, 2017. The Com pany expects to recognize a net aggregate gain on such sale s . 

Equity Method Investments

Equity Method Investments	9 Months Ended
	Sep. 30, 2017
Equity Method Investments [Abstract]
Equity Method Investments	Note 6 — Equity Method Investments: Investments in affiliated companies include joint ventures accounted for using the equity method. As of September 30, 2017, the Company had an approximate 50% interest in three joint ventures. One joint venture operates four LNG carriers (the “LNG Joint Venture”). The other two joint ventures converted two ULCCs to Floating Storage and Offloading Service vessels (collectively the “FSO Joint Venture”). In May 2017, the FSO Joint Venture signed two five-year service contracts with North Oil Company (“NOC”), the new operator of the Al Shaheen oil field, off the coast of Qatar, relating to the two FSO service vessels. The shareholders of NOC are Qatar Petroleum Oil & Gas Limited and Total E&P Golfe Limited. Such contracts commence d at the expiry of the existing contracts during the third quarter of 2017. The FSO Joint Venture financed the purchase of the vessels from each of Euronav NV and INSW and their conversion costs through partner loans and a long-term bank financing, which wa s secured by, among other things, the service contracts and the FSOs themselves. Approximately $75,343 was outstanding under the bank financing facility as of December 31, 2016. In July 2017, the FSO Joint Venture repaid the principal balance outstanding on the bank financing facility, using cash on hand.  The FSO Joint Venture previously entered into floating-to-fixed interest rate swaps with major financial institutions. These agreements, which paid fixed rates of approximately 3.9% and received floating rates based on LIBOR , had maturity dates ranging from July to September 2017. In conjunction with the repayment of the principal balance outstanding on the bank financing facility, the interest rate swap associated with the FSO Africa covering a notional amount of $58,158 was terminated early and settled on June 15, 2017. T he interest rate swap associated with the FSO Asia was settled upon maturity in July 2017 .  Investments in and advances to affiliated companies as reflected in the accompanying condensed consolidated balance sheet as of September 30, 2017 consisted of: FSO Joint Venture of $260, 701 , LNG Joint Venture of $94,545 and Other of $25,472 (which primarily relates to working capital deposits that the Company maintains for commercial pools in which it participates).  A condensed summary of the results of operations of the joint ventures follows:     Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Shipping revenues $ 58,465 $ 61,955 $ 181,125 $ 184,713  Ship operating expenses (25,854) (27,250) (78,455) (81,962)  Income from vessel operations 32,611 34,705 102,670 102,751  Other income/(expense) 704 (295) 3,156 (1,017)  Interest expense (8,697) (10,420) (28,122) (32,539)  Net income $ 24,618 $ 23,990 $ 77,704 $ 69,195  See Note 11, “Related Parties,” for disclosures on guarantees INSW has issued in favor of its joint venture partners, lenders and/or customers.

Variable Interest Entities ("VI

Variable Interest Entities ("VIEs")	9 Months Ended
	Sep. 30, 2017
Variable Interest Entities ("VIEs") [Abstract]
Variable Interest Entities ("VIEs")	Note 7 — Variable Interest Entities (“VIEs”): As of September 30, 2017, the Company participates in eight commercial pools and three joint ventures. One of the pools and the two FSO joint ventures were determined to be VIEs. The Company is not considered a primary beneficiary of either the pool or the joint ventures. The following table presents the carrying amounts of assets and liabilities in the condensed consolidated balance sheet related to the VIEs as of September 30, 2017:     Condensed Consolidated Balance Sheet  Investments in Affiliated Companies $ 264,222 In accordance with accounting guidance, the Company evaluated its maximum exposure to loss related to these VIEs by assuming a complete loss of the Company’s investment in these VIEs. The table below compares the Company’s liability in the condensed consolidated balance sheet to the maximum exposure to loss at September 30, 2017:       Condensed Consolidated Balance Sheet Maximum Exposure to Loss  Other Liabilities $ - $ 264,222  In addition, as of September 30, 2017, the Company had approximately $8,331 of trade receivables from the pool that was determined to be a VIE. These trade receivables, which are included in voyage receivables in the accompanying condensed consolidated balance sheet, have been excluded from the above tables and the calculation of INSW’s maximum exposure to loss. The Company does not record the maximum exposure to loss as a liability because it does not believe that such a loss is probable of occurring as of September 30, 2017.

Fair Value of Financial Instrum

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures	9 Months Ended
	Sep. 30, 2017
Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures	Note 8 — Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures: The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash and cash equivalents— The carrying amounts reported in the condensed consolidated balance sheet for interest-bearing deposits approximate their fair value. Debt— The fair value of debt is estimated based on quoted market prices. Interest rate swaps and caps— The fair values of interest rate swaps and caps are the estimated amounts that the Company would receive or pay to terminate the swaps or caps at the reporting date, which include adjustments for the counterparty’s or the Company’s credit risk, as appropriate, after taking into consideration any underlying collateral securing the swap or cap agreements. ASC 820, Fair Value Measurements and Disclosures , relating to fair value measurements defines fair value and established a framework for measuring fair value. The ASC 820 fair value hierarchy distinguishes between market participant assumptions developed based on market data obtained from sources independent of the reporting entity and the reporting entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, essentially an exit price. In addition, the fair value of assets and liabilities should include consideration of non-performance risk, which for the liabilities described below includes the Company's own credit risk. The levels of the fair value hierarchy established by ASC 820 are as follows: Level 1- Quoted prices in active markets for identical assets or liabilities Level 2- Quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3- Inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The estimated fair values of the Company’s financial instruments, other than derivatives that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows:     Fair Value Level 1 Level 2  September 30, 2017:  Cash and cash equivalents $ 73,390 $ 73,390 $ -  2017 Term Loan (541,420) - (541,420)   December 31, 2016:  Cash and cash equivalents $ 92,001 $ 92,001 $ -  INSW Term Loan (447,888) - (447,888) Derivatives  The Company manages its exposure to interest rate volatility risk by using derivative instruments. Interest Rate Risk The Company uses interest rate caps and swaps for the management of interest rate risk exposure. INSW was party to an interest rate cap agreement (“Interest Rate Cap”) with a major financial institution covering a notional amount of $400,000 to limit the floating interest rate exposure associated with the INSW Term Loan. The Interest Rate Cap agreement was designated and qualified as a cash flow hedge and contained no leverage features. The Interest Rate Cap had a cap rate of 2.5% through the termination date of February 5, 2017 . Tabular disclosure of derivatives location For interest rate caps, fair values are derived using valuation models that utilize the income valuation approach. These valuation models take into account contract terms such as maturity, as well as other inputs such as interest rate yield curves and creditworthiness of the counterparty and the Company. The December 31, 2016 fair value of the interest rate cap that expired on February 5, 2017 was zero. The following tables present information with respect to gains and losses on derivative positions reflected in the condensed consolidated statements of operations or in the condensed consolidated statements of other comprehensive income. The effect of cash flow hedging relationships recognized in other comprehensive income excluding amounts reclassified from accumulated other comprehensive loss (effective portion), including hedges of equity method investees, for the three and nine months ended September 30, 2017 and 2016 follows:     Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Interest rate swaps $ (696) $ 2,302 $ (3,087) $ (13,365)  Interest rate cap - - - (3)  Total $ (696) $ 2,302 $ (3,087) $ (13,368) The effect of cash flow hedging relationships on the unaudited condensed consolidated statement of operations is presented excluding hedges of equity method investees. The effect of INSW’s cash flow hedging relationships on the unaudited condensed consolidated statement of operations for the three and nine months ended September 30, 2017 and 2016 follows:    Statement of Operations  Effective Portion of Gain/(Loss)  Reclassified from  Accumulated Other  For the three months ended Comprehensive Loss Ineffective Portion  Amount of Amount of  Location Gain/(Loss) Location Gain/(Loss)  September 30, 2017:  Interest rate cap Interest expense $ - Interest expense $ -  Total $ - $ -   September 30, 2016:  Interest rate cap Interest expense $ (157) Interest expense $ -  Total $ (157) $ -     Statement of Operations  Effective Portion of Gain/(Loss)  Reclassified from  Accumulated Other  For the nine months ended Comprehensive Loss Ineffective Portion  Amount of Amount of  Location Gain/(Loss) Location Gain/(Loss)  September 30, 2017:  Interest rate cap Interest expense $ (131) Interest expense $ -  Total $ (131) $ -   September 30, 2016:  Interest rate cap Interest expense $ (244) Interest expense $ -  Total $ (244) $ -  See Note 13, “Accumulated Other Comprehensive Loss,” for disclosures relating to the impact of derivative instruments on accumulated other comprehensive loss.  Fair Value Hierarchy  The following table summarizes the fair values of assets for which an impairment charge was recognized for the three and nine months ended September 30, 2017 :     Description Fair Value Level 2 Total Impairment Charges  Assets:   Crude Tankers - Vessels held and used (1)(2) $ 10,500 $ 10,500 $ (4,564)  Product Carriers - Vessels held and used (1)(2) $ 22,400 $ 22,400 $ (2,782)  (1) Aggregate pre-tax impairment charges of $7,346 related to one vessel in the Crude Tanker segment and two vessels in the Product Carriers segment were recorded during the three and nine months periods ended September 30, 2017.  (2) Fair value measurements aggregating $32,900 at September 30, 2017 used to determine the impairment for three vessels were based upon a market approach, which considered the expected sales prices of vessels based on vessel appraisals and an executed memorandum of agreement for the sale of an MR as discussed in Note 5, "Vessels . " Because sales of vessels occur somewhat infrequently the expected sales prices are considered to be Level 2.  

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt [Abstract]
Debt	Note 9 — Debt: Debt consists of the following:    September 30, December 31,  2017 2016  2017 Term Loan, due 2022 , net of unamortized discount  and deferred costs of $24,302 $ 525,698 $ -  INSW Term Loan, due 2019 , net of unamortized discount  and deferred costs of $20,311 - 439,651  Less current portion (13,750) (6,183)  Long-term portion $ 511,948 $ 433,468  Capitalized terms used hereafter have the meaning given in these condensed consolidated financial statements or in the respective transaction documents referred to below, including subsequent amendments thereto.  2017 Debt Facilities  On June 22, 2017, INSW, its wholly owned subsidiary, International Seaways Operating Corporation (the “Administrative Borrower” or “ISOC”) and certain of its subsidiaries entered into secured debt facilities with Jefferies Finance LLC and JP Morgan Chase Bank, N.A., as joint lead arrangers, UBS Securities LLC, as joint bookrunner, DNB Markets Inc., Fearnley Securities AS, Pareto Securities Inc. and Skandinaviska Enskilda Banken AB (Publ) as co-managers, and the other lenders party thereto, consisting of (i) a revolving credit facility of $50,000 (the “2017 Revolver Facility”) and (ii) a term loan of $500,000 (the “2017 Term Loan Facility” and together with the 2017 Revolver Facility, the “2017 Debt Facilities”) containing an accordion feature whereby the 2017 Term Loan Facility could be increased up to an additional $50,000 subject to certain conditions. The 2017 Term Loan Facility matures on June 22, 2022 , and the 2017 Revolver Facility matures on December 22, 2021 . The maturity dates for the 2017 Debt Facilities are subject to acceleration upon the occurrence of certain events (as described in the credit agreement).  The 2017 Debt Facilities are secured by a first lien on substantially all of the assets of the Administrative Borrower and certain of its subsidiaries. On June 22, 2017, the proceeds received from the 2017 Term Loan Facility were used to repay the $458,416 outstanding balance under the INSW Facilities (defined below) and to pay certain expenses related to the refinancing. The remaining proceeds will be used for general corporate purposes, including fleet renewal and growth.  On July 19, 2017, the Company drew down $50,000 under the 2017 Revolver Facility, and on July 24, 2017, the Company entered into an amendment of the 2017 Debt Facilities (the “First Amendment”) to effect the increase of the 2017 Term Loan Facility by $50,000 , pursuant to the accordion feature described above. No other terms of the 2017 Debt Facilities were amended. The net proceeds from these two borrowings were used for general corporate purposes, inc luding funding the acquisition of two 2017-built Suezmax tankers as described above in Note 5, “Vessels.” On August 18, 2017, the outstanding balance under the 2017 Revolver Facility was repaid in full using cash on hand and proceeds of the sale of the 2001-built MR described in Note 5, “Vessels,” above.  Interest on the 2017 Debt Facilities is calculated, at the Administrative Borrower’s option, based upon (i) an alternate base rate (“ABR”) plus the applicable margin or (ii) Adjusted LIBOR plus the applicable margin. ABR is defined as the highest of (i) the Base Rate ( i.e. , the prime rate published in The Wall Street Journal ), (ii) the Federal Funds Effective Rate plus 0.50% , (iii) the one-month Adjusted LIBOR Rate plus 1.00% and (iv) 2.00% per annum. The applicable margins and floor interest rates for each facility are as follows:     Facility Term Loan Revolver Facility  Rate ABR LIBOR ABR LIBOR  Floor 2.00% 1.00% 2.00% 1.00%  Applicable Margin 4.50% 5.50% 2.50% 3.50%  The 2017 Term Loan Facility amortizes in quarterly installments equal to 0.625% of the original principal amount of the loan for the first four quarterly installments and equal to 1.25% of the original principal amount of the loan for all quarterly installments thereafter. The 2017 Term Loan Facility is subject to additional mandatory annual prepayments in an aggregate principal amount of 50% of Excess Cash Flow, as defined in the credit agreement.  Management determined that it had no Excess Cash Flow under the 2017 Term Loan Facility for the six months ended September 30, 2017 and has projected no Excess Cash Flow for the remaining three months ended December 31, 2017 based on the financial results as of September 30, 2017. Accordingly, there is currently no mandatory prepayment expected during the first quarter of 2018.  As set forth in the 2017 Debt Facilities credit agreement, the 2017 Debt Facilities contain certain restrictions relating to new borrowings and INSW’s ability to receive cash dividends, loans or advances from ISOC and its subsidiaries that are Restricted Subsidiaries. As of September 30, 2017, permitted cash dividends that can be distributed to INSW by ISOC under the 2017 Term Loan Facility was $15,000 .  The 2017 Debt Facilities have covenants to maintain the aggregate Fair Market Value (as defined in the credit agreement) of the Collateral Vessels at greater than or equal to $300,000 at the end of each fiscal quarter and to ensure that at any time, the outstanding principal amounts of the 2017 Debt Facilities and certain other secured indebtedness permitted under credit agreement minus the amount of unrestricted cash and cash equivalents does not exceed 65% of the aggregate Fair Market Value of the Collateral Vessels plus the Fair Market Value of certain joint venture equity interests. T he Company had substantial headroom under this covenant as of September 30, 2017, with an estimated ratio of 43% .  INSW Facilities On June 22, 2017, the agreements governing the INSW Facilities — a secured term loan facility in the aggregate amount of $628,375 (the “INSW Term Loan”) and a secured revolving loan facility of up to $50,000 (the “INSW Revolver Facility”), dated as of August 5, 2014, as amended by that certain First Amendment, dated as of June 3, 2015, that certain Second Amendment, dated as of July 18, 2016, that certain Third Amendment, dated as of September 20, 2016 and that certain Fourth Amendment, dated as of November 30, 2016, among INSW, OIN Delaware LLC (the sole member of which is INSW), certain INSW subsidiaries, Jefferies Finance LLC, as administrative agent, and other lenders party thereto, were terminated in accordance with their terms.  Interest Expense  Total interest expense, including amortization of issuance and deferred financing costs (for additional information related to deferred financing costs see Note 2, “Significant Accounting Policies”), commitment, administrative and other fees for the 2017 Debt Facilities and the INSW Facilities for the three and nine months ended September 30, 2017 was $10,935 and $28,651 , respectively and for the three and nine months ended September 30, 2016 was $9,212 and $29,488 , respectively. Interest paid for the 2017 Debt Facilities and INSW Facilities for the three and nine months ended September 30, 2017 was $10,165 and $26,897 , respectively and for the INSW Facilities for the three and nine months ended September 30, 2016 was $8,471 and $26,097 , respectively. Debt Modifications, Repurchases and Extinguishments  During the three and nine months ended September 30, 2017, the Company incurred issuance costs aggregating $2,191 and $24,197 , respectively, in connection with the 2017 Debt Facilities. Issuance costs paid to all lenders and third-party fees associated with lenders of the 2017 Debt Facilities who had not participated in the INSW Facilities aggregating $15,067 were capitalized as deferred finance charges. Third party fees associated with the First Amendment and with lenders of the 2017 Debt Facilities who had participated in the INSW Facilities aggregating $1,191 and $9,130 , for the three and nine months ended September 30, 2017, respectively, were expensed and are included in third-party debt modification fees in the unaudited condensed consolidated statement of operations. In addition, an aggregate net loss of $7,020 for the nine months ended September 30, 2017 realized on the modification of the Company’s debt facilities, is included in other income/(expense) in the unaudited condensed consolidated statement of operations. The net loss reflects a write-off of unamortized original issue discount and deferred financing costs associated with the INSW Facilities, which were treated as partial extinguishments. Issuance costs incurred with respect to the 2017 Debt Facilities have been treated as a reduction of debt proceeds.   During the nine months ended September 30, 2016, INSW made repurchases of the INSW Term Loan in the open market of $68,922 and mandatory principal prepayments of $83,832 . The aggregate net losses of $2,368 and $1,342 realized on these transactions for the three and nine months ended September 30, 2016, respectively, is included in other income/(expense) in the unaudited condensed consolidated statement of operations. The net loss reflects a $2,368 and $5,097 , respectively, write-off of unamortized original issue discount and deferred financing costs associated with the principal reductions for the three and nine months ended September 30, 2016, which were treated as partial extinguishments and a $3,755 discount on repurchase of debt fo r the nine months ended September 30, 2016. Third party legal and consulting fees (aggregating $225 ) incurred by INSW in relation to the open market repurchases are included in general and administrative expenses in the unaudited condensed consolidated statement of operations for the nine months ended September 30, 2016.

Taxes

Taxes	9 Months Ended
	Sep. 30, 2017
Taxes [Abstract]
Taxes	Note 10 — Taxes: The Company derives substantially all of its gross income from the use and operation of vessels in international commerce. The Company’s entities that own and operate vessels are primarily domiciled in the Marshall Islands, which does not impose income tax on shipping operations. The Company also has or had subsidiaries in various jurisdictions that perform administrative, commercial or technical management functions. These subsidiaries are subject to income tax based on the services performed in countries in which their offices are located; current and deferred income taxes are recorded accordingly. A substantial portion of income earned by the Company is not subject to income tax. With respect to subsidiaries not subject to income tax in their respective countries of incorporation, no deferred taxes are provided for the temporary differences in the bases of the underlying assets and liabilities for tax and accounting purposes. The Company qualifies for an exemption from U.S. federal income taxes under Section 883 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”) and U.S. Treasury Department regulations for 2017, because less than 50 percent of the total value of the Company’s stock has been held by one or more shareholders who own 5% or more of the Company’s stock for more than half of the days of 2017. The Marshall Islands impose tonnage taxes, which are assessed on the tonnage of certain of the Company’s vessels. These tonnage taxes are included in vessel expenses in the accompanying condensed consolidated statements of operations. As of September 30, 2017 and December 31, 2016, the Company has recognized a reserve for uncertain tax positions of $151 and $153 , respectively, and accrued interest of $33 and $33 , respectively, in noncurrent other liabilities in the accompanying condensed consolidated balance sheets.   

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2017
Related Parties [Abstract]
Related Parties	Note 11 — Related Parties:  Corporate Overhead Allocations from OSG  During the three and nine months ended September 30, 2016, the Company benefited from certain corporate functions provided by OSG. In addition, certain entities within INSW incurred similar costs in respect of corporate functions that provided services to non-INSW subsidiaries of OSG. An allocation of these corporate expenses, including legal costs related to certain litigation undertaken by OSG, is reflected in the condensed consolidated financial statements in general and administrative expenses, depreciation and amortization and reorganization items, net. Income earned directly by OSG was not subject to allocation because it was not directly related to the INSW business.  Reorganization items, net for the nine months ended September 30, 2016 includes a credit for the recovery of costs allocated to INSW in prior years related to certain litigation undertaken by OSG that was settled by OSG in February 2016. Details of the amounts allocated from OSG during the three and nine months ended September 30, 2016 are as follows:     Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Corporate overhead allocations from OSG  General and administrative $ - $ 5,442 $ - $ 18,915  Depreciation - 140 - 467  Separation and transition costs - 1,961 - 3,183  Reorganization items, net - 3,849 - (102)  Total corporate overhead allocations from OSG $ - $ 11,392 $ - $ 22,463  Transition Services Agreement  During the three and nine months ended September 30, 2017, INSW earned fees totaling $2 and $63 , respectively , for services provided to OSG and incurred fees totaling $0 and $126 , respectively, for services received from OSG, pursuant to the terms of th e Transition Services Agreement, which ended in June 2017 . P ayable to OSG aggregating $285 and $683 as of September 30, 2017 and December 31, 2016, respectively, were primarily in relation to the spin-related agreements (Transition Services, Separation and Distribution and Employee Matters Agreements) between INSW and OSG. Guarantees The FSO Joint Venture is a party to a number of contracts: (a) the FSO Joint Venture is an obligor pursuant to a guarantee facility agreement dated as of July 14, 2017, by and among, the FSO Joint Venture, ING Belgium NV/SA, as issuing bank, and Euronav and INSW, as guarantors (the ‘‘Guarantee Facility’’); and (b) the FSO Joint Venture is party to two service contracts with NOC (the ‘‘NOC Service Contracts’’). INSW severally guarantees the obligations of the FSO Joint Venture pursuant to the Guarantee F acility and severally guaranteed the obligations of the FSO Joint Venture to Maersk Oil Qatar AS (“MOQ”) under the MOQ service contracts, which contracts were novated to NOC in July 2017 (the ‘‘MOQ Guarantee’’) and severally guarantees the obligations of the FSO Joint Venture under the NOC Service Contracts. In addition, INSW continues the MOQ Guarantee for the period ended on the novation date of the service contracts for MOQ, which period will end when the Qatari authorities determine that the FSO Joint Venture has paid all Qatari taxes owed by the FSO Joint Venture under such service contracts for tax periods through the novation date.  INSW maintains a guarantee in favor of Qatar Liquefied Gas Company Limited (2) (‘‘LNG Charterer’’) relating to certain LNG Tanker Time Charter Party Agreements with the LNG Charterer and each of Overseas LNG H1 Corporation, Overseas LNG H2 Corporation, Overseas LNG S1 Corporation and Overseas LNG S2 Corporation (such agreements, the ‘‘LNG Charter Party Agreements,’’ and such guarantee, the ‘‘LNG Performance Guarantee’’). INSW will pay QGTC an annual fee of $100 until such time that QGTC ceases to provide a guarantee in favor of the LNG charterer relating to performance under the LNG Charter Party Agreements.  OSG continues to provide a guarantee in favor of the LNG Charterer relating to the LNG Charter Party Agreements (such guarantees, the ‘‘OSG LNG Performance Guarantee’’). INSW will indemnify OSG for liabilities arising from the OSG LNG Performance Guarantee pursuant to the terms of the Separation and Distribution Agreement. In connection with the OSG LNG Performance Guarantee, INSW pays a $125 fee per year to OSG, which will increase to $135 per year in 2018 and will be terminated if OSG ceases to provide the OSG LNG Performance Guarantee . Capital Contributions from OSG and Dividends Paid to OSG For the nine months ended September 30, 2016 the Company recorded capital contributions from OSG of $3,275 comprised of allocated reorganizations items, net of ( $102 ), non-cash expense relating to stock compensation benefits of $2,157 and certain allocated general and administrative costs of $1,220 . For additional information relating to stock compensation benefits see Note 12, “Capital Stock and Stock Compensation.” During the nine months ended September 30, 2016, INSW made dividend distributions to OSG totaling $202,000 .

Capital Stock and Stock Compens

Capital Stock and Stock Compensation	9 Months Ended
	Sep. 30, 2017
Capital Stock and Stock Compensation [Abstract]
Capital Stock and Stock Compensation	Note 12 — Capital Stock and Stock Compensation: The Company accounts for stock compensation expense in accordance with the fair value method required by ASC 718, Compensation – Stock Compensation . Such fair value method requires share based payment transactions to be measured according to the fair value of the equity instruments issued.  Information regarding share-based compensation awards granted by INSW during the nine months ended September 30, 2017 follows:  Director Compensation - Restricted Common Stock  The Company awarded a total of 38,938 restricted common stock shares during the nine months ended September 30, 2017 to its non-employee directors. The weighted average fair value of INSW’s stock on the measurement date of such awards was $20.03 per share. Such restricted share awards vest in full on the earlier of the next annual meeting of the stockholders or June 7, 2018, subject to each director continuing to provide services to INSW through such date. The restricted share awards granted may not be transferred, pledged, assigned or otherwise encumbered prior to vesting. Prior to the vesting date, a holder of restricted share awards otherwise has all the rights of a shareholder of INSW, including the right to vote such shares and the right to receive dividends paid with respect to such shares at the same time as common shareholders generally.  Management Compensation - Restricted Stock Units and Stock Options During the nine months ended September 30, 2017, the Company granted 66,503 time-based restricted stock units (“RSUs”) to certain senior officers. The weighted average grant date fair value of these awards was $18.91 per RSU. Each RSU represents a contingent right to receive one share of INSW common stock upon vesting. Each award of RSUs will vest in equal installments on each of the first three anniversaries of the grant date. During the nine months ended September 30, 2017, the Company awarded 30,856 performance-based RSUs to its senior officers. Each performance stock unit represents a contingent right to receive RSUs based upon the covered employees being continuously employed through the end of the period over which the performance goals are measured and shall vest as follows: (i) one-third of the target RSUs shall vest on December 31, 2019, subject to INSW’s three -year earnings per share (“EPS”) performance in the three -year EPS performance period relative to a target (the “EPS Target”) set forth in the award agreements; (ii) one-third of the target RSUs shall vest on December 31, 2019, subject to INSW’s return on invested capital (“ROIC”) performance in the three-year ROIC performance period relative to a target rate (the “ROIC Target”) set forth in the award agreements; and (iii) one-third of the target RSUs will be subject to INSW’s three-year total shareholder return (“TSR”) performance relative to that of a performance peer group over a three-year performance period (“TSR Target”). Vesting is subject in each case to the Human Resources and Compensation Committee of the Company’s Board of Directors’ certification of achievement of the performance measures and targets no later than March 15, 2020. The EPS Target and ROIC Target are performance conditions which, as of September 30, 2017, INSW management believes, are not yet considered probable of being achieved. Accordingly, for financial reporting purposes, no compensation costs will be recognized for these awards until it becomes probable that the performance conditions will be achieved. The weighted average grant date fair value of the awards with performance conditions was determined to be $19.73 per RSU. The weighted average grant date fair value of the TSR based performance awards, which have a market condition, was estimated using a Monte Carlo probability model and determined to be $24.35 per RSU. In addition, during the nine months ended September 30, 2017, INSW granted 20,638 performance-based RSUs ( 8,756 of which represented the 2017 tranche of the awards originally made on October 12, 2015) to certain members of its senior management. The grant date fair value of the performance awards was determined to be $19.13 per RSU. Each performance stock unit represents a contingent right to receive RSUs based upon certain performance related goals being met and the covered employees being continuously employed through the end of the period over which the performance goals are measured. These performance awards shall vest on December 31, 2017, subject to INSW’s ROIC performance for the year ended December 31, 2017 relative to a target rate (the “2017 ROIC Target”) set forth in the award agreements. Vesting is subject in each case to the Human Resources and Compensation Committee of the Company’s Board of Directors’ certification of achievement of the performance measures and targets no later than March 31, 2018. Achievement of the performance condition in this award is considered probable and accordingly, compensation cost has been recognized beginn ing on March 29, 2017, the date of the award. During the nine months ended September 30, 2017, INSW awarded to certain of its senior officers an aggregate of 148,271 stock options. Each stock option represents an option to purchase one share of INSW common stock for an exercise price that ranged from $14.03 to $22.42 per share. The weighted average grant date fair value of the options was $9.23 per option. The fair values of the options were estimated using the Black-Scholes option pricing model with inputs that include the INSW stock price, the INSW exercise price and the following weighted average assumptions: risk free interest rates ranging from 1.95% to 2.11% , dividend yields of 0.0% , expected stock price volatility factor of .44 , and expected lives at inception of six years, respectively. On March 29, 2017, pursuant to the terms of the INSW Management Equity Incentive Plan and the Employee Matters Agreement with OSG, the Human Resources and Compensation Committee of the Company’s Board of Directors adjusted the applicable performance metrics for the OSG performance based units held by certain members of senior management that had been converted into INSW performance based units as of the November 30, 2016 spin-off date. The performance metrics were modified as follows: (i) one-third of the target RSUs shall vest on December 31, 2018, subject to INSW’s three-year EPS performance in the three-year EPS performance period relative to the same compounded annual growth rate (the “Modified EPS Target”) set forth in the original OSG award agreements; (ii) one-third of the target RSUs shall vest on December 31, 2018, subject to a proportionate average of OSG’s ROIC performance for the first eleven months and INSW’s ROIC performance for the last twenty-five months of the three-year ROIC performance period relative to the same target rate used under the original OSG award agreements (the “Modified ROIC Target”); and (iii) one-third of the target RSUs will be subject to a three-year TSR performance relative to that of the same performance peer group used under the original OSG award, over a three-year TSR performance period (“Modified TSR Target”). The TSR performance shall be measured using a proportionate average of the TSR performance of OSG for the first eleven months and INSW’s TSR performance for the last twenty-five months in the three-year TSR performance period. The modifications to the awards with performance conditions (EPS and ROIC Target awards) did not result in incremental compensation cost as these performance targets are not yet considered probable of being achieved. The modification of the TSR Target award resulted in incremental compensation expense of $124 , which will be recognized over the remaining performance period of the awards. Share Repurchases In connection with the settlement of vested restricted stock units, the Company repurchased 969 and 13,961 shares of common stock during the three and nine months ended September 30, 2017, respectively at an average cost of $19.69 and $18.66 , respectively , per share (based on the market prices on the dates of vesting) from certain members of management to cover withholding taxes. On May 2, 2017, the Company’s Board of Directors approved a resolution authorizing the Company to implement a stock repurchase program. Under the program, the Company may opportunistically repurchase up to $30,000 worth of shares of the Company’s common stock from time to time over a 24-month period, on the open market or otherwise, in such quantities, at such prices, in such manner and on such terms and conditions as management determines is in the best interests of the Company. Shares owned by employees, directors and other affiliates of the Company will not be eligible for repurchase under this program without further authorization from the Board. During the three and nine months ended September 30, 2017 , the Company repurchased and retired 160,000 shares of its common stock in open-market purchases at an average price of $19.86 per share, for a total cost of $ 3 , 177 . 

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2017
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Note 13 — Accumulated Other Comprehensive Loss: The components of accumulated other comprehensive loss, net of related taxes, in the condensed consolidated balance sheets follow:     September 30, December 31,  2017 2016  Unrealized losses on derivative instruments $ (33,639) $ (40,317)  Items not yet recognized as a component of net periodic benefit cost (pension plans) (12,981) (11,950)  $ (46,620) $ (52,267) The changes in the balances of each component of accumulated other comprehensive loss, net of related taxes, during the three and nine months ended September 30, 2017 and 2016 follow:      Unrealized losses on cash flow hedges Items not yet recognized as a component of net periodic benefit cost (pension plans) Foreign currency translation adjustment Total   Balance as of June 30, 2017 $ (36,065) $ (12,622) $ - $ (48,687)  Current period change, excluding amounts reclassified  from accumulated other comprehensive loss (696) (359) - (1,055)  Amounts reclassified from accumulated other  comprehensive loss 3,122 - - 3,122  Total change in accumulated other comprehensive loss 2,426 (359) - 2,067  Balance as of September 30, 2017 $ (33,639) $ (12,981) $ - $ (46,620)   Balance as of June 30, 2016 $ (60,884) $ (9,637) $ (42) $ (70,563)  Current period change, excluding amounts reclassified  from accumulated other comprehensive loss 2,302 350 - 2,652  Amounts reclassified from accumulated other  comprehensive loss 3,961 - - 3,961  Total change in accumulated other comprehensive loss 6,263 350 - 6,613  Balance as of September 30, 2016 $ (54,621) $ (9,287) $ (42) $ (63,950)       Unrealized losses on cash flow hedges Items not yet recognized as a component of net periodic benefit cost (pension plans) Foreign currency translation adjustment Total   Balance as of December 31, 2016 $ (40,317) $ (11,950) $ - $ (52,267)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (3,087) (1,031) - (4,118)  Amounts reclassified from accumulated other  comprehensive loss 9,765 - - 9,765  Total change in accumulated other comprehensive loss 6,678 (1,031) - 5,647  Balance as of September 30, 2017 $ (33,639) $ (12,981) $ - $ (46,620)   Balance as of December 31, 2015 $ (53,446) $ (10,636) $ (42) $ (64,124)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (13,368) 1,349 - (12,019)  Amounts reclassified from accumulated other  comprehensive loss 12,193 - - 12,193  Total change in accumulated other comprehensive loss (1,175) 1,349 - 174  Balance as of September 30, 2016 $ (54,621) $ (9,287) $ (42) $ (63,950)  Amounts reclassified out of each component of accumulated other comprehensive loss follow:      Three Months Ended Nine Months Ended  September 30, September 30,  Accumulated Other Comprehensive Loss Component 2017 2016 2017 2016 Statement of Operations Line Item   Unrealized losses on cash flow hedges:  Interest rate swaps entered into by the Company's Equity in income of  equity method joint venture investees $ (3,122) $ (3,804) $ (9,634) $ (11,949) affiliated companies   Interest rate caps entered into by the Company's  subsidiaries - (157) (131) (244) Interest expense   $ (3,122) $ (3,961) $ (9,765) $ (12,193) Total before and net of tax See Note 8, “Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures,” for additional disclosures relating to derivative instruments.

Leases

Leases	9 Months Ended
	Sep. 30, 2017
Leases [Abstract]
Leases	Note 14 — Leases: 1. Charters-in: As of September 30, 2017, INSW had commitments to charter in seven MR vessels. All of the charters-in, of which three are bareboat charters with expiry dates ranging from November 2017 to June 2018 and four are time charters with expiry dates ranging from June 2018 to July 2018, are accounted for as operating leases. Lease expense relating to charters-in is included in charter hire expenses in the condensed consolidated statements of operations. The future minimum commitments and related number of operating days under these operating leases are as follows:     Bareboat Charters-in:   At September 30, 2017 Amount Operating Days  2017 $ 1,610 244  2018 1,841 279  Net minimum lease payments $ 3,451 523      Time Charters-in:   At September 30, 2017 Amount Operating Days  2017 $ 6,677 733  2018 10,534 968  Net minimum lease payments $ 17,211 1,701 The future minimum commitments for time charters-in exclude amounts with respect to vessels chartered-in where the duration of the charter was one year or less at inception but include amounts with respect to workboats employed in the Crude Tankers Lightering business which are cancellable upon 180 days’ notice . Time charters-in commitments have been reduced to reflect estimated days that the vessels will not be available for employment due to drydock because INSW does not pay charter hire when time chartered-in vessels are not available for its use. Certain of the charters in the above tables provide INSW with renewal and purchase options. 2. Charters-out: At September 30, 2017, the future minimum revenues, before reduction for brokerage commissions, expected to be received on non-cancelable bareboat and time charters and the related revenue days (revenue days represent calendar days, less days that vessels are not available for employment due to repairs, drydock or lay-up) are as follows:    Time Charters-out:   At September 30, 2017 Amount Revenue Days  2017 $ 10,897 749  2018 2,305 282  Future minimum revenues $ 13,202 1,031  Future minimum revenues do not include (1) the Company’s share of time charters entered into by the pools in which it participates, and (2) the Company’s share of time charters entered into by the joint ventures, which the Company accounts for under the equity method. Revenues from a time charter are not generally received when a vessel is off-hire, including time required for normal periodic maintenance of the vessel. In arriving at the minimum future charter revenues, an estimated time off-hire to perform periodic maintenance on each vessel has been deducted, although there is no assurance that such estimate will be reflective of the actual off-hire in the future.

Reorganization Items, net

Reorganization Items, net	9 Months Ended
	Sep. 30, 2017
Reorganization Items, net [Abstract]
Reorganization Items, net	Note 15 — Reorganization Items, net: On November 14, 2012 (the “Petition Date”), OSG and 180 of its subsidiaries including INSW Debtor entities, filed voluntary petitions for reorganization under Chapter 11 of the U.S. Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). The Debtors filed with the Bankruptcy Court a plan of reorganization which was subsequently confirmed by the Bankruptcy Court’s order entered on July 18, 2014. On August 5, 2014 (the “Effective Date”), the plan of reorganization became effective and OSG and its affiliated debtors, including INSW Debtor entities, emerged from bankruptcy. On February 10, 2017, pursuant to a final decree and order of the Bankruptcy Court, OSG’s one remaining case, as the parent company, was closed. Reorganization items, net represent amounts incurred subsequent to the bankruptcy date as a direct result of the filing of the Chapter 11 cases. The table below reflects the recovery of previously allocated professional fees associated with a litigation matter that OSG subsequently settled for an amount in excess of its related out-of-pocket expenses.    Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Trustee fees $ - $ 20 $ - $ 60  Professional fees - 552 - (3,439)  Other claim adjustments - 3,277 - 3,277  $ - $ 3,849 $ - $ (102)  No cash was paid for reorganization items for the nine months ended September 30, 2017 and 2016. Allocations of non-cash reorganization expenses recorded as a capital contribution from/(distribution to) OSG were $3,849 and ( $102 ) for the three and nine months ended September 30, 2016, respectively.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2017
Contingencies [Abstract]
Contingencies	Note 16 — Contingencies: INSW’s policy for recording legal costs related to contingencies is to expense such legal costs as incurred.  Multi-Employer Plans The Merchant Navy Officers Pension Fund (“MNOPF”) is a multi-employer defined benefit pension plan covering British crew members that served as officers on board INSW’s vessels (as well as vessels of other owners). The trustees of the plan have indicated that, under the terms of the High Court ruling in 2005, which established the liability of past employers to fund the deficit on the Post 1978 section of MNOPF, calls for further contributions may be required if additional actuarial deficits arise or if other employers liable for contributions are not able to pay their share in the future. As the amount of any such assessment cannot currently be reasonably estimated, no reserves have been recorded for this contingency in INSW’s condensed consolidated financial statements as of September 30, 2017. The next deficit valuation is due March 31, 2018. The Merchant Navy Ratings Pension Fund (“MNRPF”) is a multi-employer defined benefit pension plan covering British crew members that served as ratings (seamen) on board INSW’s vessels (as well as vessels of other owners) more than 20 years ago. During 2014 the trustees of the MNRPF sought court approval for a new deficit reduction regime for participating employers. Participating employers include current employers, historic employers that have made voluntary contributions, and historic employers such as INSW that have made no deficit contributions. The trustees received court approval of the new deficit reduction regime in February 2015 and INSW received an assessment of $1,487 which was recorded in June 2015, of which £ 639 ($ 988 ) was paid in October 2015 and the balance was paid on October 25, 2016. Calls for further contributions may be required if additional actuarial deficits arise or if other employers liable for contributions are unable to pay their share in the future. Based on the latest estimated deficit valuation using a measurement date of March 31, 2017, which was distributed to employers in June 2017, INSW recorded a reserve of £290 ($388) for a poten tial assessment by the trustees of the MNRPF as of September 30, 2017.  Galveston Accident  In late September 2017, an industrial accident at a leased facility in Galveston resulted in fatalities to two temporary employees. In accordance with law, an investigation of the accident is currently underway by the Occupational Safety and Health Administration and local law enforcement. In addition, two lawsuits relating to the accident, each of which claims damages in excess of $25,000 , have been filed in state court in Texas (Harris County District Court) and identify a subsidiary of the Company as one of several defendants. The subsidiary has filed its answer to those complaints generally denying the allegations and stating certain affirmative defenses, and has separately filed a motion for declaratory judgment in federal court in Texas (Southern District) seeking judgment that it does not owe contractual indemnification obligations to certain of the other defendants. We believe it is too early to determine what, if any, effect the outcome of this matter will have on us.  Legal Proceedings Arising in the Ordinary Course of Business The Company is a party, as plaintiff or defendant, to various suits in the ordinary course of business for monetary relief arising principally from personal injuries, wrongful death, collision or other casualty and to claims arising under charter parties and other contract disputes. A substantial majority of such personal injury, wrongful death, collision or other casualty claims against the Company are covered by insurance (subject to deductibles not material in amount). Each of the claims involves an amount which, in the opinion of management, should not be material to the Company’s financial position, results of operations and cash flows.  

Significant Accounting Polici25

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Significant Accounting Policies [Abstract]
Cash, cash equivalents and Restricted cash	Cash, cash equivalents and Restricted cash — Interest-bearing deposits that are highly liquid investments and have a maturity of three months or less when purchased are included in cash and cash equivalents. The 2017 Debt Facilities (as defined in Note 9, “Debt”) stipulate that net cash proceeds of any INSW asset sale or casualty event exceeding $5,000 , are restricted and required to be reinvested in fixed or capital assets within twelve months of such sale or casualty event or used to repay the principal balance outstanding on the 2017 Debt Facilities.
Concentration of Credit Risk	Concentration of Credit Risk — Financial instruments that potentially subject the Company to concentrations of credit risk are voyage receivables due from charterers and pools in which the Company participates. During the three and nine months periods ended September 30, 2017 and 2016, the Company did not have any individual customers who accounted for 10% or more of its revenues apart from the pools in which it participates. The pools in which the Company participates accounted in aggregate for 72% and 90% of consolidated voyage receivables at September 30, 2017 and December 31, 2016, respectively.
Deferred finance charges	Deferred finance charges — Finance charges , excluding original issue discount, incurred in the arrangement or amendments resulting from the modification of debt are deferred and amortized to interest expense on either an effective interest method or straight-line basis over the life of the related debt. Unamortized deferred finance charges of $587 and $1,691 relating to the 2017 Revolver Facility and the INSW Revolver Facility (as defined in Note 9) are included in other assets in the condensed consolidated balance sheets as of September 30, 2017 and December 31, 2016, respectively. Unamortized deferred financing charges of $24,302 and $19,827 relating to the 2017 Term Loan Facility and the INSW Term Loan (as defined in Note 9) are included in long-term debt in the condensed consolidated balance sheets as of September 30, 2017 and December 31, 2016, respectively. Interest expense relating to the amortization of deferred financing charges amounted to $652 and $4,452 for the three and nine months ended September 30, 2017, respectively and $1,484 and $4,501 for the three and nine months ended September 30, 2016, respectively .
Recently adopted / issued accounting standards	Recently Adopted Accounting Standards — In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting (ASC 718), which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification in the statement of cash flows. The standard is effective for annual periods beginning after December 31, 2016 and interim periods within that reporting period. As a result of the adoption of this accounting standard, effective January 1, 2017, the Company elected to account for forfeitures of share-based payments as they occur. The adoption of this accounting policy had no impact on the Company’s consolidated financial statements since management’s estimate of the forfeiture rate on share-based payment awards granted prior to January 1, 2017 was zero . In addition, the adoption of this accounting standard resulted in the presentation of $261 and $26 of cash paid to the tax authorities for shares withheld to satisfy the Company’s statutory income tax withholding obligations as a financing cash outflow in the condensed consolidated sta tement of cash flows for the nine-months ended September 30, 2017 and 2016, respectively.  Recently Issued Accounting Standards — In September 2017, the FASB issued ASU 2017-13, Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments , which allows certain public business entities (“PBEs”) that otherwise would not meet the definition of a public business entity except for a requirement to include its financial statements or financial information in another entity’s filings with the SEC, to elect to use non-PBE transition dates for the sole purpose of adopting ASU No. 2016-02, Leases (ASC 842), and ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606). Accordingly, all financial statements or financial information of the Company’s FSO and LNG joint ventures that may be included in the Company’s filings with the SEC pursuant to SEC Regulation S-X Rule 4-08(g), Summarized Financial Information of Subsidiaries Not Consolidated and 50 Percent or Less Owned Persons, and/or SEC Regulation S-X Rule 3-09, Separate Financial Statements of Subsidiaries Not Consolidated and 50 Percent or Less Owned Persons, will likely not reflect the adoptions of ASC 606 and ASC 842 until January 1, 2019 and January 1, 2020, respectively.  In August 2017, the FASB issued ASU 2017-12 , Derivatives and Hedging (ASC 815 ) , which makes more financial and nonfinancial hedging strategies eligible for hedge accounting, amends the presentation and disclosure requirements, and changes how companies assess effectiveness. It is intended to more closely align hedge accounting with companies’ risk management strategies, simplify the application of hedge accounting, and increase transparency as to the scope and results of hedging programs. T he new guidance permits a qualitative effectiveness assessment for certain hedges instead of a quantitative test after initial qualification if the company can reasonably support an expectation of high effectiveness throughout the term of the hedge. An initial quantitative test to establish that the hedge relationship is highly effective is still required. For cash flow hedges, if the hedge is highly effective, all changes in the fair value of the derivative hedging instrument will be recorded in other comprehensive income. They will be reclassified to earnings when the hedged item impacts earnings. On the other hand, for fair value hedges, because the change in fair value of the hedged item and the derivative hedging instrument will still be recorded in current earnings, if the hedge is not 100% effective there will be an income statement impact. The standard will be effective for interim and annual periods beginning after December 31, 2018 and early adoption is permitted. Management does not expect the adoption of this accounting standard to have a material impact on the Company’s consolidated financial statements.  I n May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (ASC 718) , which provides guidance in regards to a change to the terms or conditions of a share-based payment award. An entity is required to account for the effects of a modification unless all the following are met: (1) the fair value of the modified award is the same as the fair value of the original award immediately before the original award is modified; (2) the vesting conditions of the modified award are the same as the vesting conditions of the original award immediately before the original award is modified; (3) the classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before the original award is modified. The standard will be effective for interim and annual periods beginning after December 31, 2017 and early adoption is permitted. The guidance is to be applied prospectively to an award modified on or after the adoption date. Management does not expect the adoption of this accounting standard to have a material impact on the Company’s consolidated financial statements.  In March 2017, the FASB issued ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (ASC 715), which requires that an employer classify and report the service cost component in the same line item or items in the statement of operations as other compensation costs arising from services rendered by the pertinent employees during the period and disclose by line item in the statement of operations the amount of net benefit cost that is included in the statement of operations. The other components of net benefit cost would be presented in the statement of operations separately from the service cost component and outside the subtotal of income from operations. The standard will be effective for interim and annual periods beginning after December 31, 2017 and early adoption is permitted. The guidance requires application using a retrospective transition method. Management does not expect the adoption of this accounting standard to have a material impact on the Company’s consolidated financial statements.  In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (ASC 230): Restricted Cash , which requires that amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The standard is effective for annual periods beginning after December 31, 2017 and interim periods within that reporting period with early adoption permitted. Management does not expect the adoption of this accounting standard to have a material impact on the Company’s condensed consolidated statements of cash flows.  In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (ASC 230), which amends the guidance in ASC 230 on the classification of certain cash receipts and payments in the statement of cash flows. The primary purpose of the ASU is to reduce the diversity in practice that has resulted from the lack of consistent principles on this topic with respect to (1) debt prepayment or debt extinguishment costs; (2) settlement of zero-coupon debt; (3) contingent consideration payments made after a business combination; (4) proceeds from the settlement of insurance claims; (5) proceeds from the settlement of corporate-owned life insurance policies; (6) distributions received from equity method investees; (7) beneficial interests in securitization transactions; and (8) separately identifiable cash flows and application of the predominance principle. The standard will be effective for interim and annual periods beginning after December 31, 2017 and early adoption is permitted. The guidance requires application using a retrospective transition method. We currently anticipate adopting the standard for classification of distributions received from equity method investees using the cumulative equity earnings approach, which will result in the retrospective reclassification of distributions received from certain affiliated companies accounted for by the equity method, from investing activities to operating activities. Management does not expect the adoption of other provisions of this accounting standard to have a material impact on the Company’s consolidated financial statements.  In February 2016, the FASB issued ASU No. 2016-02, Leases (ASC 842), which requires lessees to recognize most leases on the balance sheet. This is expected to increase both reported assets and liabilities. The standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. The requirements of this standard include a significant increase in required disclosures. Management is analyzing the impact of the adoption of this guidance on the Company’s condensed consolidated financial statements, including assessing changes that might be necessary to information technology systems, processes and internal controls to capture new data and address changes in financial reporting. Management expects that the Company will recognize increases in reported amounts for property, plant and equipment and related lease liabilities upon adoption of the new standard.  In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606), a standard that will supersede virtually all of the existing revenue recognition guidance in U.S. GAAP. The standard establishes a five-step model that will apply to revenue earned from a contract with a customer. The standard’s requirements will also apply to the sale of some non-financial assets that are not part of an entity’s ordinary activities (e.g., sales of property or plant and equipment). Extensive disclosures will be required, including disaggregation of total revenue, information about performance obligations, changes in contract asset and liability account balances between periods and key judgments and estimates. The FASB has issued several amendments to the standard, including clarification of the accounting for licenses of intellectual property and identifying performance obligations. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). The new standard will be effective for us beginning January 1, 2018 and could have a material impact on the Company’s consolidated financial statements. We anticipate adopting the standard using the cumulative catch-up transition method. We have undertaken a comprehensive approach to assessing the impact of the guidance on our business by reviewing our current accounting policies and practices to identify any potential differences that may result from applying the new requirements to our consolidated financial statements. We are continuing to consult with other shipping companies on business assumptions, processes, systems and controls to determine revenue recognition and disclosure under the new standard. We have made significant progress on our review of this standard, the results of which indicate that (i) the timing and recognition of earnings from the pool arrangements and time charter/bareboat charter-out contracts to which the Company is party may not change significantly from current practice; (ii) there may be a change in the timing of revenue recognition under spot voyage contracts and our lightering business that may have a material impact on the Company’s consolidated financial statements, depending on the number of spot voyages we have in progress at December 31, 2017, which cannot be reasonably estimated at this time (although at September 30, 2017, only one of the Company’s vessels operated on spot voyage charters); (iii) there will be a significant expansion of required disclosures regarding revenue recognition, including a requirement to disclose the portion of total revenues recognized in accordance with other standards such as ASC 840, Leases ; and (iv) the use of time charter equivalent (“TCE”) revenues as a means of measuring performance and comparing results amongst shipping industry participants could become more challenging. Our reviews and assessments of our contracts with customers have been substantially completed and the remaining phases of implementation include (i) the drafting of sample disclosures to identify any remaining information gaps; (ii) the quantification of the cumulative catch-up adjustment that will be recognized on January 1, 2018, which cannot be done until the first quarter of 2018; (iii) testing of the operating effectiveness of internal controls related to the implementation of this standard ; and (iv) the completion of our evaluation of any accounting system changes that may be required to facilitate the gathering of information required for the presentation and disclosure requirements of ASC 606 .

Contingencies (Policy)

Contingencies (Policy)	9 Months Ended
	Sep. 30, 2017
Contingencies [Abstract]
Legal costs	INSW’s policy for recording legal costs related to contingencies is to expense such legal costs as incurred.

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings per Common Share [Abstract]
Components of Calculation of Earnings Per Share	The components of the calculation of basic earnings per share and diluted earnings per share are as follows:     Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Net (loss)/income $ (21,816) $ (50,862) $ (15,368) $ 39,534   Weighted average common shares outstanding:  Basic 29,202,437 29,157,387 29,192,392 29,157,387  Diluted 29,202,437 29,157,387 29,192,392 29,157,387  Reconciliations of the numerator of the basic and diluted earnings per share computations are as follows:      Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Net (loss)/income allocated to:  Common Stockholders $ (21,816) $ (50,862) $ (15,368) $ 39,534  Participating securities - - - -  $ (21,816) $ (50,862) $ (15,368) $ 39,534 

Business and Segment Reporting

Business and Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2017
Business and Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Information about the Company’s reportable segments as of and for the three and nine months ended September 30, 2017 and 2016 follows:     Crude Product  Tankers Carriers Other Totals  Three months ended September 30, 2017:  Shipping revenues $ 38,318 $ 21,650 $ - $ 59,968  Time charter equivalent revenues 34,905 21,584 - 56,489  Depreciation and amortization 14,798 5,696 34 20,528  Loss on disposal of vessels and other property,  including impairments 4,565 841 - 5,406  Adjusted loss from vessel operations (5,823) (5,268) (1) (11,092)  Equity in income of affiliated companies 8,901 - 3,895 12,796  Investments in and advances to affiliated companies  at September 30, 2017 269,521 16,651 94,546 380,718  Adjusted total assets at September 30, 2017 1,159,936 393,774 94,172 1,647,882   Three months ended September 30, 2016:  Shipping revenues $ 53,532 $ 27,239 $ - $ 80,771  Time charter equivalent revenues 50,156 27,010 - 77,166  Depreciation and amortization 13,265 6,885 226 20,376  Loss on disposal of vessels and other property,  including impairments 4,315 45,325 - 49,640  Adjusted income/(loss) from vessel operations 13,428 (1,575) (77) 11,776  Equity in income of affiliated companies 9,321 - 3,167 12,488  Investments in and advances to affiliated companies  at September 30, 2016 287,303 15,241 60,700 363,244  Adjusted total assets at September 30, 2016 1,087,118 448,495 60,700 1,596,313      Crude Product  Tankers Carriers Other Totals  Nine months ended September 30, 2017:  Shipping revenues $ 146,124 $ 74,551 $ - $ 220,675  Time charter equivalent revenues 136,695 73,206 - 209,901  Depreciation and amortization 41,149 16,994 100 58,243  Loss on disposal of vessels and other property,  including impairments 4,565 841 - 5,406  Adjusted income/(loss) from vessel operations 19,672 (6,406) (149) 13,117  Equity in income of affiliated companies 29,074 - 11,194 40,268  Expenditures for vessels and vessel improvements 117,576 793 - 118,369  Payments for drydockings 16,005 3,782 - 19,787   Nine months ended September 30, 2016:  Shipping revenues $ 212,907 $ 99,602 $ - $ 312,509  Time charter equivalent revenues 204,059 98,771 - 302,830  Depreciation and amortization 39,225 20,523 734 60,482  Loss on disposal of vessels and other property,  including impairments 4,114 45,325 30 49,469  Adjusted income from vessel operations 96,312 14,581 94 110,987  Equity in income of affiliated companies 27,312 - 8,781 36,093  Expenditures for vessels and vessel improvements 57 534 - 591  Payments for drydockings 3,541 1,392 - 4,933 
Reconciliation of Revenue from Segments to Consolidated	Reconciliations of time charter equivalent (“TCE”) revenues of the segments to shipping revenues as reported in the condensed statements of operations follow:      Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Time charter equivalent revenues $ 56,489 $ 77,166 $ 209,901 $ 302,830  Add: Voyage expenses 3,479 3,605 10,774 9,679  Shipping revenues $ 59,968 $ 80,771 $ 220,675 $ 312,509 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	  Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Total adjusted (loss)/income from vessel operations  of all segments $ (11,092) $ 11,776 $ 13,117 $ 110,987  General and administrative expenses (6,603) (7,732) (18,143) (23,643)  Third-party debt modification fees (1,191) - (9,130) -  Separation and transition costs 543 (2,162) (488) (3,425)  Loss on disposal of vessels and other property,  including impairments (5,406) (49,640) (5,406) (49,469)  Consolidated (loss)/income from vessel operations (23,749) (47,758) (20,050) 34,450  Equity in income of affiliated companies 12,796 12,488 40,268 36,093  Other income/(expense) 190 (2,244) (6,484) (1,003)  Interest expense (11,030) (9,519) (29,071) (29,951)  Reorganization items, net - (3,849) - 102  (Loss)/income before income taxes $ (21,793) $ (50,882) $ (15,337) $ 39,691 
Reconciliation of Assets from Segment to Consolidated	Reconciliations of total assets of the segments to amounts included in the condensed consolidated balance sheets follow:    As of September 30, 2017 2016  Total assets of all segments $ 1,647,882 $ 1,596,313  Corporate unrestricted cash and cash equivalents 73,390 110,158  Other unallocated amounts 3,053 2,840  Consolidated total assets $ 1,724,325 $ 1,709,311

Equity Method Investments (Tabl

Equity Method Investments (Tables)	9 Months Ended
	Sep. 30, 2017
Equity Method Investments [Abstract]
Results of Operations of Equity Method Investments	 A condensed summary of the results of operations of the joint ventures follows:     Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Shipping revenues $ 58,465 $ 61,955 $ 181,125 $ 184,713  Ship operating expenses (25,854) (27,250) (78,455) (81,962)  Income from vessel operations 32,611 34,705 102,670 102,751  Other income/(expense) 704 (295) 3,156 (1,017)  Interest expense (8,697) (10,420) (28,122) (32,539)  Net income $ 24,618 $ 23,990 $ 77,704 $ 69,195 

Variable Interest Entities ("30

Variable Interest Entities ("VIEs") (Tables)	9 Months Ended
	Sep. 30, 2017
Variable Interest Entities ("VIEs") [Abstract]
Schedule of Variable Interest Entities	The following table presents the carrying amounts of assets and liabilities in the condensed consolidated balance sheet related to the VIEs as of September 30, 2017:     Condensed Consolidated Balance Sheet  Investments in Affiliated Companies $ 264,222 
Schedule of Variable Interest Entities Liability in Condensed Consolidated Balance Sheet to Maximum Exposure to Loss	The table below compares the Company’s liability in the condensed consolidated balance sheet to the maximum exposure to loss at September 30, 2017:       Condensed Consolidated Balance Sheet Maximum Exposure to Loss  Other Liabilities $ - $ 264,222 

Fair Value of Financial Instr31

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The estimated fair values of the Company’s financial instruments, other than derivatives that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows:     Fair Value Level 1 Level 2  September 30, 2017:  Cash and cash equivalents $ 73,390 $ 73,390 $ -  2017 Term Loan (541,420) - (541,420)   December 31, 2016:  Cash and cash equivalents $ 92,001 $ 92,001 $ -  INSW Term Loan (447,888) - (447,888)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The effect of cash flow hedging relationships recognized in other comprehensive income excluding amounts reclassified from accumulated other comprehensive loss (effective portion), including hedges of equity method investees, for the three and nine months ended September 30, 2017 and 2016 follows:     Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Interest rate swaps $ (696) $ 2,302 $ (3,087) $ (13,365)  Interest rate cap - - - (3)  Total $ (696) $ 2,302 $ (3,087) $ (13,368) The effect of cash flow hedging relationships on the unaudited condensed consolidated statement of operations is presented excluding hedges of equity method investees. The effect of INSW’s cash flow hedging relationships on the unaudited condensed consolidated statement of operations for the three and nine months ended September 30, 2017 and 2016 follows:    Statement of Operations  Effective Portion of Gain/(Loss)  Reclassified from  Accumulated Other  For the three months ended Comprehensive Loss Ineffective Portion  Amount of Amount of  Location Gain/(Loss) Location Gain/(Loss)  September 30, 2017:  Interest rate cap Interest expense $ - Interest expense $ -  Total $ - $ -   September 30, 2016:  Interest rate cap Interest expense $ (157) Interest expense $ -  Total $ (157) $ -     Statement of Operations  Effective Portion of Gain/(Loss)  Reclassified from  Accumulated Other  For the nine months ended Comprehensive Loss Ineffective Portion  Amount of Amount of  Location Gain/(Loss) Location Gain/(Loss)  September 30, 2017:  Interest rate cap Interest expense $ (131) Interest expense $ -  Total $ (131) $ -   September 30, 2016:  Interest rate cap Interest expense $ (244) Interest expense $ -  Total $ (244) $ - 
Schedule of Fair Value, Assets and Liabilities Measured on Nonrecurring Basis	The following table summarizes the fair values of assets for which an impairment charge was recognized for the three and nine months ended September 30, 2017 :     Description Fair Value Level 2 Total Impairment Charges  Assets:   Crude Tankers - Vessels held and used (1)(2) $ 10,500 $ 10,500 $ (4,564)  Product Carriers - Vessels held and used (1)(2) $ 22,400 $ 22,400 $ (2,782)  (1) Aggregate pre-tax impairment charges of $7,346 related to one vessel in the Crude Tanker segment and two vessels in the Product Carriers segment were recorded during the three and nine months periods ended September 30, 2017.  (2) Fair value measurements aggregating $32,900 at September 30, 2017 used to determine the impairment for three vessels were based upon a market approach, which considered the expected sales prices of vessels based on vessel appraisals and an executed memorandum of agreement for the sale of an MR as discussed in Note 5, "Vessels . " Because sales of vessels occur somewhat infrequently the expected sales prices are considered to be Level 2.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt [Abstract]
Schedule of Applicable Margins and Floor Interest Rates Exit Financing Facility	The applicable margins and floor interest rates for each facility are as follows:     Facility Term Loan Revolver Facility  Rate ABR LIBOR ABR LIBOR  Floor 2.00% 1.00% 2.00% 1.00%  Applicable Margin 4.50% 5.50% 2.50% 3.50% 
Schedule of Long-term Debt Instruments	Debt consists of the following:    September 30, December 31,  2017 2016  2017 Term Loan, due 2022 , net of unamortized discount  and deferred costs of $24,302 $ 525,698 $ -  INSW Term Loan, due 2019 , net of unamortized discount  and deferred costs of $20,311 - 439,651  Less current portion (13,750) (6,183)  Long-term portion $ 511,948 $ 433,468 

Related Parties (Tables)

Related Parties (Tables)	9 Months Ended
	Sep. 30, 2017
Related Parties [Abstract]
Schedule of Related Party Transactions	Details of the amounts allocated from OSG during the three and nine months ended September 30, 2016 are as follows:     Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Corporate overhead allocations from OSG  General and administrative $ - $ 5,442 $ - $ 18,915  Depreciation - 140 - 467  Separation and transition costs - 1,961 - 3,183  Reorganization items, net - 3,849 - (102)  Total corporate overhead allocations from OSG $ - $ 11,392 $ - $ 22,463 

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2017
Accumulated Other Comprehensive Loss [Abstract]
Components of Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss, net of related taxes, in the condensed consolidated balance sheets follow:     September 30, December 31,  2017 2016  Unrealized losses on derivative instruments $ (33,639) $ (40,317)  Items not yet recognized as a component of net periodic benefit cost (pension plans) (12,981) (11,950)  $ (46,620) $ (52,267) The changes in the balances of each component of accumulated other comprehensive loss, net of related taxes, during the three and nine months ended September 30, 2017 and 2016 follow:      Unrealized losses on cash flow hedges Items not yet recognized as a component of net periodic benefit cost (pension plans) Foreign currency translation adjustment Total   Balance as of June 30, 2017 $ (36,065) $ (12,622) $ - $ (48,687)  Current period change, excluding amounts reclassified  from accumulated other comprehensive loss (696) (359) - (1,055)  Amounts reclassified from accumulated other  comprehensive loss 3,122 - - 3,122  Total change in accumulated other comprehensive loss 2,426 (359) - 2,067  Balance as of September 30, 2017 $ (33,639) $ (12,981) $ - $ (46,620)   Balance as of June 30, 2016 $ (60,884) $ (9,637) $ (42) $ (70,563)  Current period change, excluding amounts reclassified  from accumulated other comprehensive loss 2,302 350 - 2,652  Amounts reclassified from accumulated other  comprehensive loss 3,961 - - 3,961  Total change in accumulated other comprehensive loss 6,263 350 - 6,613  Balance as of September 30, 2016 $ (54,621) $ (9,287) $ (42) $ (63,950)       Unrealized losses on cash flow hedges Items not yet recognized as a component of net periodic benefit cost (pension plans) Foreign currency translation adjustment Total   Balance as of December 31, 2016 $ (40,317) $ (11,950) $ - $ (52,267)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (3,087) (1,031) - (4,118)  Amounts reclassified from accumulated other  comprehensive loss 9,765 - - 9,765  Total change in accumulated other comprehensive loss 6,678 (1,031) - 5,647  Balance as of September 30, 2017 $ (33,639) $ (12,981) $ - $ (46,620)   Balance as of December 31, 2015 $ (53,446) $ (10,636) $ (42) $ (64,124)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (13,368) 1,349 - (12,019)  Amounts reclassified from accumulated other  comprehensive loss 12,193 - - 12,193  Total change in accumulated other comprehensive loss (1,175) 1,349 - 174  Balance as of September 30, 2016 $ (54,621) $ (9,287) $ (42) $ (63,950) 
Reclassification Out of Accumulated Other Comprehensive Income (Loss)	Amounts reclassified out of each component of accumulated other comprehensive loss follow:      Three Months Ended Nine Months Ended  September 30, September 30,  Accumulated Other Comprehensive Loss Component 2017 2016 2017 2016 Statement of Operations Line Item   Unrealized losses on cash flow hedges:  Interest rate swaps entered into by the Company's Equity in income of  equity method joint venture investees $ (3,122) $ (3,804) $ (9,634) $ (11,949) affiliated companies   Interest rate caps entered into by the Company's  subsidiaries - (157) (131) (244) Interest expense   $ (3,122) $ (3,961) $ (9,765) $ (12,193) Total before and net of tax 

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2017
Charters-Out [Member]
Lease [Abstract]
Operating Leases of Lessee Disclosure	At September 30, 2017, the future minimum revenues, before reduction for brokerage commissions, expected to be received on non-cancelable bareboat and time charters and the related revenue days (revenue days represent calendar days, less days that vessels are not available for employment due to repairs, drydock or lay-up) are as follows:    Time Charters-out:   At September 30, 2017 Amount Revenue Days  2017 $ 10,897 749  2018 2,305 282  Future minimum revenues $ 13,202 1,031 
Property Subject to Operating Lease [Member] | Bareboat Charters-In [Member]
Lease [Abstract]
Schedule of Property Subject to or Available for Operating Lease	The future minimum commitments and related number of operating days under these operating leases are as follows:     Bareboat Charters-in:   At September 30, 2017 Amount Operating Days  2017 $ 1,610 244  2018 1,841 279  Net minimum lease payments $ 3,451 523 
Property Subject to Operating Lease [Member] | Time Charters-In [Member]
Lease [Abstract]
Schedule of Property Subject to or Available for Operating Lease	   Time Charters-in:   At September 30, 2017 Amount Operating Days  2017 $ 6,677 733  2018 10,534 968  Net minimum lease payments $ 17,211 1,701 

Reorganization Items, net (Tabl

Reorganization Items, net (Tables)	9 Months Ended
	Sep. 30, 2017
Reorganization Items, net [Abstract]
Schedule of Reorganization Items Net	The table below reflects the recovery of previously allocated professional fees associated with a litigation matter that OSG subsequently settled for an amount in excess of its related out-of-pocket expenses.    Three Months Ended Nine Months Ended  September 30, September 30,  2017 2016 2017 2016  Trustee fees $ - $ 20 $ - $ 60  Professional fees - 552 - (3,439)  Other claim adjustments - 3,277 - 3,277  $ - $ 3,849 $ - $ (102) 

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	Sep. 30, 2017property
Vessel/Fleet [Member]
Property, Plant and Equipment [Line Items]
Number of vessels in fleet	56
Charter In Vessels [Member]
Property, Plant and Equipment [Line Items]
Number of vessels in fleet	7
Vessels with Interest In [Member]
Property, Plant and Equipment [Line Items]
Number of vessels in fleet	6

Significant Accounting Polici38

Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Summary Of Significant Accounting Policies [Line Items]
Amortization of financing costs	$ 652	$ 1,484	$ 4,452	$ 4,501
Expected forfeiture rate					0.00%
Cash paid to tax authority upon vesting of stock-based compensation			261	$ 26
INSW Facilities [Member]
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, convenant threshold related to net cash proceeds from asset sales			$ 5,000
Accounts Receivable [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			72.00%		90.00%
Term Loan [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred finance costs, gross	24,302		$ 24,302		$ 19,827
Revolving Credit Facility [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred finance costs, gross	$ 587		$ 587		$ 1,691

Earnings per Common Share (Narr

Earnings per Common Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive awards	0	0	0	0
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Participating securities allocated a portion of income	38,938	0	34,844	0
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities			155,345
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities			275,830
Antidilutive securities excluded from computation of earnings per share, amount	426,196		367,033

Earnings per Common Share (Calc

Earnings per Common Share (Calculation of EPS) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings per Common Share [Abstract]
Net (Loss)/Income	$ (21,816)	$ (50,862)	$ (15,368)	$ 39,534
Weighted average common shares outstanding:
Basic	29,202,437	29,157,387	29,192,392	29,157,387
Diluted	29,202,437	29,157,387	29,192,392	29,157,387

Earnings per Common Share (Reco

Earnings per Common Share (Reconciliation of Net Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings per Common Share [Abstract]
Common Stockholders	$ (21,816)	$ (50,862)	$ (15,368)	$ 39,534
Net (Loss)/Income	$ (21,816)	$ (50,862)	$ (15,368)	$ 39,534

Business and Segment Reportin42

Business and Segment Reporting (Reportable Segments Information) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segment	Sep. 30, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			2
Shipping revenues	$ 59,968	$ 80,771	$ 220,675	$ 312,509
Time charter equivalent revenues	56,489	77,166	209,901	302,830
Depreciation and amortization	20,528	20,376	58,243	60,482
Gain/(loss) on disposal of vessels and other property, including impairments	(5,406)	(49,640)	(5,406)	(49,469)
Adjusted income/(loss) from vessel operations	(11,092)	11,776	13,117	110,987
Equity in income of affiliated companies	12,796	12,488	40,268	36,093
Payments for drydockings			19,787	4,933
Operating Segments [Member]
Segment Reporting Information [Line Items]
Shipping revenues	59,968	80,771	220,675	312,509
Time charter equivalent revenues	56,489	77,166	209,901	302,830
Depreciation and amortization	20,528	20,376	58,243	60,482
Gain/(loss) on disposal of vessels and other property, including impairments	5,406	49,640	5,406	49,469
Adjusted income/(loss) from vessel operations	(11,092)	11,776	13,117	110,987
Equity in income of affiliated companies	12,796	12,488	40,268	36,093
Investments in and advances to affiliated companies	380,718	363,244	380,718	363,244
Adjusted total assets	1,647,882	1,596,313	1,647,882	1,596,313
Expenditures for vessels and vessel improvements			118,369	591
Payments for drydockings			19,787	4,933
International Crude Tankers Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Shipping revenues	38,318	53,532	146,124	212,907
Time charter equivalent revenues	34,905	50,156	136,695	204,059
Depreciation and amortization	14,798	13,265	41,149	39,225
Gain/(loss) on disposal of vessels and other property, including impairments	4,565	4,315	4,565	4,114
Adjusted income/(loss) from vessel operations	(5,823)	13,428	19,672	96,312
Equity in income of affiliated companies	8,901	9,321	29,074	27,312
Investments in and advances to affiliated companies	269,521	287,303	269,521	287,303
Adjusted total assets	1,159,936	1,087,118	1,159,936	1,087,118
Expenditures for vessels and vessel improvements			117,576	57
Payments for drydockings			16,005	3,541
International Product Carriers Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Shipping revenues	21,650	27,239	74,551	99,602
Time charter equivalent revenues	21,584	27,010	73,206	98,771
Depreciation and amortization	5,696	6,885	16,994	20,523
Gain/(loss) on disposal of vessels and other property, including impairments	841	45,325	841	45,325
Adjusted income/(loss) from vessel operations	(5,268)	(1,575)	(6,406)	14,581
Investments in and advances to affiliated companies	16,651	15,241	16,651	15,241
Adjusted total assets	393,774	448,495	393,774	448,495
Expenditures for vessels and vessel improvements			793	534
Payments for drydockings			3,782	1,392
Other Segments [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	34	226	100	734
Gain/(loss) on disposal of vessels and other property, including impairments				30
Adjusted income/(loss) from vessel operations	(1)	(77)	(149)	94
Equity in income of affiliated companies	3,895	3,167	11,194	8,781
Investments in and advances to affiliated companies	94,546	60,700	94,546	60,700
Adjusted total assets	$ 94,172	$ 60,700	$ 94,172	$ 60,700

Business and Segment Reportin43

Business and Segment Reporting (Reconciliation of Time Charter Revenue to Shipping Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business and Segment Reporting [Abstract]
Time charter equivalent revenues	$ 56,489	$ 77,166	$ 209,901	$ 302,830
Add: Voyage expenses	3,479	3,605	10,774	9,679
Shipping revenues	$ 59,968	$ 80,771	$ 220,675	$ 312,509

Business and Segment Reportin44

Business and Segment Reporting (Reconciliation of Income from Vessel Operations to Profit (Loss) Before Reorganization) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business and Segment Reporting [Abstract]
Total adjusted income from vessel operations of all segments	$ (11,092)	$ 11,776	$ 13,117	$ 110,987
General and administrative expenses	(6,603)	(7,732)	(18,143)	(23,643)
Third-party debt modification fees	(1,191)		(9,130)
Separation and transition costs	543	(2,162)	(488)	(3,425)
Gain on disposal of vessels and other property	(5,406)	(49,640)	(5,406)	(49,469)
(Loss)/income from vessel operations	(23,749)	(47,758)	(20,050)	34,450
Equity in income of affiliated companies	12,796	12,488	40,268	36,093
Other (expense)/income	190	(2,244)	(6,484)	(1,003)
Interest expense	(11,030)	(9,519)	(29,071)	(29,951)
Reorganization items, net		(3,849)		102
(Loss)/income before income taxes	$ (21,793)	$ (50,882)	$ (15,337)	$ 39,691

Business and Segment Reportin45

Business and Segment Reporting (Reconcilation of Assets of Segments to Consolidated Amounts) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Cash and cash equivalents	$ 73,390	$ 92,001	$ 110,158	$ 308,858
Other unallocated amounts	3,053		2,840
Consolidated Total Assets	1,724,325	$ 1,662,521	1,709,311
Operating Segments [Member]
Segment Reporting Information [Line Items]
Consolidated Total Assets	1,647,882		1,596,313
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Unrestricted cash	$ 73,390		$ 110,158

Vessels (Narrative) (Details)

Vessels (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Oct. 31, 2017
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets held-for-use	$ 7,346	$ 49,640
Asset impairment charges	7,346
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$ 1,940	$ 171
Vessel/Fleet [Member] | Subsequent Event [Member]
Property, Plant and Equipment [Line Items]
Purchase agreement, purchase amount			$ 53,000
2 Suezmax Tankers 2017 Built [Member]
Property, Plant and Equipment [Line Items]
Purchase agreement, description	During the quarter ended September 30, 2017, the Company acquired two 2017-built Suezmax tankers for an aggregate price of $116,000. Both vessels were delivered in July 2017.
Purchase agreement, purchase amount	$ 116,000

Equity Method Investments (Narr

Equity Method Investments (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Jul. 31, 2017	Jun. 15, 2017	Jun. 14, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Investments in and advances to affiliated companies	$ 380,718,000				$ 358,681,000
Euronav Nv Joint Venture [Member] | FSO Asia and FSO Africa [Member]
Schedule of Equity Method Investments [Line Items]
Long term debt carrying amount					$ 75,343,000
Investments in and advances to affiliated companies	$ 260,701,000
Euronav Nv Joint Venture [Member] | FSO Asia and FSO Africa [Member] | Interest Rate Swap [Member]
Schedule of Equity Method Investments [Line Items]
Derivative, fixed interest rate	3.90%
Derivative, type of interest rate paid on swap	fixed rates of approximately 3.9% and received floating rates based on LIBOR
Euronav Nv Joint Venture [Member] | FSO Africa [Member] | Interest Rate Swap [Member]
Schedule of Equity Method Investments [Line Items]
Derivative, notional amount				$ 58,158,000
Derivative, fair value, net			$ 0
Euronav Nv Joint Venture [Member] | Minimum [Member] | FSO Asia and FSO Africa [Member] | Interest Rate Swap [Member]
Schedule of Equity Method Investments [Line Items]
Derivative, maturity date	Jul. 1, 2017
Euronav Nv Joint Venture [Member] | Maximum [Member] | FSO Asia and FSO Africa [Member] | Interest Rate Swap [Member]
Schedule of Equity Method Investments [Line Items]
Derivative, maturity date	Sep. 30, 2017
LNG Joint Venture [Member] | Liquid Natural Gas Carrier Vessel [Member]
Schedule of Equity Method Investments [Line Items]
Investments in and advances to affiliated companies	$ 94,545,000
Other Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Investments in and advances to affiliated companies	$ 25,472,000
LNG and FSO Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Subsequent Event [Member] | Euronav Nv Joint Venture [Member] | FSO Asia and FSO Africa [Member]
Schedule of Equity Method Investments [Line Items]
Long term debt carrying amount		$ 0
Subsequent Event [Member] | Euronav Nv Joint Venture [Member] | FSO Asia [Member] | Interest Rate Swap [Member]
Schedule of Equity Method Investments [Line Items]
Derivative liability, notional amount		$ 0

Equity Method Investments (Resu

Equity Method Investments (Results of Operations of Equity Method Investments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity Method Investments [Abstract]
Shipping revenues	$ 58,465	$ 61,955	$ 181,125	$ 184,713
Ship operating expenses	(25,854)	(27,250)	(78,455)	(81,962)
Income from vessel operations	32,611	34,705	102,670	102,751
Other income/(expense)	704	(295)	3,156	(1,017)
Interest expense	(8,697)	(10,420)	(28,122)	(32,539)
Net income	$ 24,618	$ 23,990	$ 77,704	$ 69,195

Variable Interest Entities ("49

Variable Interest Entities ("VIEs") (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)item	Dec. 31, 2016USD ($)
Variable Interest Entity [Line Items]
Accounts receivable, net, current	$ 58,764	$ 66,918
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of joint ventures | item	3
Accounts receivable, net, current	$ 8,331
Variable interest entity, reporting entity involvement, maximum loss exposure, nonquantifiable, narrative	The Company does not record the maximum exposure to loss as a liability because it does not believe that such a loss is probable of occurring as of September 30, 2017.

Variable Interest Entities ("50

Variable Interest Entities ("VIEs") (Balance Sheet Carrying Amounts Related to VIEs) (Details) $ in Thousands	Sep. 30, 2017USD ($)
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Investments in Affiliated Companies	$ 264,222

Variable Interest Entities ("51

Variable Interest Entities ("VIEs") (Comparison of Liability to Maximum Exposure to Loss) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Other Liabilities	$ 5,046	$ 4,438
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Other Liabilities
Maximum Exposure to Loss	$ 264,222

Fair Value of Financial Instr52

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Narrative) (Details) - Interest Rate Cap [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Derivative, notional amount	$ 400,000	$ 400,000
Derivative, cap interest rate	2.50%	2.50%
Derivative, maturity date	Feb. 5, 2017

Fair Value of Financial Instr53

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Fair Value of Financial Instruments Other Than Derivatives) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 73,390	$ 92,001
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	73,390	92,001
Term Loan [Member] | INSW Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans Payable, Fair Value Disclosure	(541,420)	(447,888)
Term Loan [Member] | INSW Facilities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans Payable, Fair Value Disclosure	$ (541,420)	$ (447,888)

Fair Value of Financial Instr54

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Effect of Cash Flow Hedging Relationships) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Unrealized losses on derivative instruments	$ (696)	$ 2,302	$ (3,087)	$ (13,368)
Interest Rate Cap [Member]
Unrealized losses on derivative instruments				(3)
Interest Rate Swap [Member]
Unrealized losses on derivative instruments	$ (696)	$ 2,302	$ (3,087)	$ (13,365)

Fair Value of Financial Instr55

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Effect of Cash Flow Hedging Relationships on Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Effective portion of gain/(loss) reclassified from accumulated other comprehensive loss		$ (157)	$ (131)	$ (244)
Ineffective Portion
Interest Expense [Member] | Interest Rate Cap [Member]
Effective portion of gain/(loss) reclassified from accumulated other comprehensive loss		(157)	(131)	(244)
Ineffective Portion

Fair Value of Financial Instr56

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Fair Values of Assets and Liabilities Measured on Nonrecurring Basis) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Vessels held for use, Fair Value	$ 32,900
Vessels held for use, Impairment Charges	(7,346)
International Crude Tankers Segment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Vessels held for use, Fair Value	10,500
Vessels held for use, Impairment Charges	(4,564)
International Product Carriers Segment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Vessels held for use, Fair Value	22,400
Vessels held for use, Impairment Charges	(2,782)
Fair Value, Inputs, Level 2 [Member] | International Crude Tankers Segment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Vessels held for use, Fair Value	10,500
Fair Value, Inputs, Level 2 [Member] | International Product Carriers Segment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Vessels held for use, Fair Value	$ 22,400

Debt (2017 Debt Facilities) (Na

Debt (2017 Debt Facilities) (Narrative) (Details) - USD ($)	Jun. 22, 2017	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Aug. 05, 2014
Debt Instrument [Line Items]
Payments on debt			$ (458,416,000)	$ (65,167,000)
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Proceeds from lines of credit		$ 50,000,000
INSW Facilities [Member]
Debt Instrument [Line Items]
Payments on debt	$ 458,416,000
INSW Facilities [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 50,000,000
2017 Debt Facilities [Member] | Subsidiaries [Member] | International Seaways Operating Corporation [Member]
Debt Instrument [Line Items]
Debt Instrument, Issuer			International Seaways Operating Corporation
Debt instrument, maturity date, description			The maturity dates for the 2017 Debt Facilities are subject to acceleration upon the occurrence of certain events (as described in the credit agreement).
Debt instrument, interest rate terms			Interest on the 2017 Debt Facilities is calculated, at the Administrative Borrower's option, based upon (i) an alternate base rate ("ABR") plus the applicable margin or (ii) Adjusted LIBOR plus the applicable margin. ABR is defined as the highest of (i) the Base Rate (i.e., the prime rate published in The Wall Street Journal), (ii) the Federal Funds Effective Rate plus 0.50%, (iii) the one-month Adjusted LIBOR Rate plus 1.00% and (iv) 2.00% per annum.
Debt instrument, interest rate, stated percentage	2.00%
Debt instrument covenant on collateral fair market value	$ 300,000,000
Debt instrument convenant percentage benchmark against certain fair market values	65.00%
2017 Debt Facilities [Member] | Subsidiaries [Member] | Federal Funds Effective Swap Rate [Member] | International Seaways Operating Corporation [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
2017 Debt Facilities [Member] | Subsidiaries [Member] | London Interbank Offered Rate (LIBOR) [Member] | International Seaways Operating Corporation [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
2017 Debt Facilities [Member] | Subsidiaries [Member] | Scenario, Plan [Member] | International Seaways Operating Corporation [Member]
Debt Instrument [Line Items]
Increase in debt instrument	$ 50,000,000
Debt instrument, increase (decrease), net	50,000,000
2017 Debt Facilities [Member] | Subsidiaries [Member] | Revolving Credit Facility [Member] | International Seaways Operating Corporation [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 50,000,000
Line of credit facility, expiration date	Dec. 22, 2021
Term Loan [Member] | INSW Facilities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date			Aug. 5, 2019
Payments on debt	$ 628,375,000
Term Loan [Member] | 2017 Debt Facilities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date			Jun. 22, 2022
Debt instrument, covenant related to base Available Amount		$ 15,000,000	$ 15,000,000
Term Loan [Member] | 2017 Debt Facilities [Member] | Subsidiaries [Member] | International Seaways Operating Corporation [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500,000,000
Debt instrument, maturity date	Jun. 22, 2022
Quarterly installment percentage of original principal amount for period one	0.625%
Quarterly installment percentage of original principal amount for period two	1.25%
Additional prepayment requirement percentage of Excess Cash flow	50.00%

Debt (INSW Facilities) (Narrati

Debt (INSW Facilities) (Narrative) (Details) - USD ($)	Jun. 22, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Aug. 05, 2014
Debt Instrument [Line Items]
Payments on debt				$ (458,416,000)	$ (65,167,000)
Proceeds from Issuance of Long-term Debt				584,963,000
International Seaways Exit Facilities and 2017 Debt Facilities [Member]
Debt Instrument [Line Items]
Interest Expense		$ 10,935,000	$ 9,212,000	28,651,000	29,488,000
2017 Debt Facilities [Member]
Debt Instrument [Line Items]
Payments of debt issuance costs		2,191,000		24,197,000
2017 Debt Facilities and Third Party Fees (non INSW Facilities Partcipants) [Member]
Debt Instrument [Line Items]
Deferred finance costs, gross		15,067,000		15,067,000
2017 Debt Facilities and Third Party Fees ( INSW Facilities Partcipants) [Member]
Debt Instrument [Line Items]
Debt Related Commitment Fees and Debt Issuance Costs		1,191,000		9,130,000
INSW Facilities [Member]
Debt Instrument [Line Items]
Payments on debt	$ 458,416,000
Debt instrument, convenant threshold related to net cash proceeds from asset sales				5,000,000
Interest Expense		10,165,000	8,471,000	26,897,000	26,097,000
Gains (losses) on restructuring of debt		7,020,000		7,020,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Deferred finance costs, gross		587,000		587,000		$ 1,691,000
Proceeds from lines of credit		50,000,000
Revolving Credit Facility [Member] | INSW Facilities [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity							$ 50,000,000
Term Loan [Member]
Debt Instrument [Line Items]
Deferred finance costs, gross		24,302,000		24,302,000		$ 19,827,000
Repayments of long-term debt					83,832,000
Debt instrument, repurchase amount			68,922,000		68,922,000
Write off of deferred debt issuance cost			2,368,000		5,097,000
Gain (loss) on repurchase of debt instrument			$ (2,368,000)		1,342,000
Gain (Loss) on Extinguishment of Debt, before Write off of Debt Issuance Cost					$ 3,755,000
G & A expenses, other, open market debt repurchase legal and consulting fees				225,000
Term Loan [Member] | 2017 Debt Facilities [Member]
Debt Instrument [Line Items]
Debt instrument, covenant related to base Available Amount		15,000,000		$ 15,000,000
Term Loan [Member] | INSW Facilities [Member]
Debt Instrument [Line Items]
Payments on debt	$ 628,375,000
Term Loan [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Long-term Debt		$ 50,000,000

Debt (Schedule of Long-term Deb

Debt (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Less current portion	$ (13,750)	$ (6,183)
Long-term portion	511,948	433,468
Term Loan [Member]
Long-term debt		439,651
Less current portion	(13,750)	(6,183)
Long-term portion	511,948	$ 433,468
Term Loan [Member] | 2017 Debt Facilities [Member]
Long-term debt	525,698
Unamortized discount and deferred finance costs	$ 24,302
Debt instrument, maturity date	Jun. 22, 2022
Term Loan [Member] | INSW Facilities [Member]
Unamortized discount and deferred finance costs	$ 20,311
Debt instrument, maturity date	Aug. 5, 2019

Debt (Schedule of Applicable Ma

Debt (Schedule of Applicable Margins and Floor Interest Rates Exit Financing Facility) (Details) - 2017 Debt Facilities [Member]	9 Months Ended
	Sep. 30, 2017
Revolving Credit Facility [Member] | Base Rate [Member] | Floor [Member]
Debt instrument, interest rate, stated percentage	2.00%
Revolving Credit Facility [Member] | Base Rate [Member] | Applicable Margin [Member]
Debt instrument, basis spread on variable rate	2.50%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Floor [Member]
Debt instrument, interest rate, stated percentage	1.00%
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Applicable Margin [Member]
Debt instrument, basis spread on variable rate	3.50%
Term Loan [Member] | Base Rate [Member] | Floor [Member]
Debt instrument, interest rate, stated percentage	2.00%
Term Loan [Member] | Base Rate [Member] | Applicable Margin [Member]
Debt instrument, basis spread on variable rate	4.50%
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Floor [Member]
Debt instrument, interest rate, stated percentage	1.00%
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Applicable Margin [Member]
Debt instrument, basis spread on variable rate	5.50%

Taxes (Narrative) (Details)

Taxes (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Taxes [Abstract]
Income tax examination, interest accrued	$ 33	$ 33
Reserve for uncertain tax positions	$ 151	$ 153

Related Parties (Narrative) (De

Related Parties (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Capital reduction from Parent				$ (3,275)
Reorganization items (recovery of previously allocated fees)		$ 3,849		(102)
Non-cash expense relating to stock compensation benefits			$ 2,733	2,157
Allocated general and administrative expenses recorded as capital contributions				1,220
Dividends to parent company				$ 202,000
Transition Services and Separation and Distribution and Employee Matters Agreements [Member]
Accounts payable, related parties, current	$ 285		285		$ 683
Transition Services Agreement [Member]
Related party earned fees	2		63
Related party incurred fees	0		126
Subsidiaries [Member] | Qatar Gas Transport Company Limited Nakilat Joint Venture [Member]
Guarantor obligation fee			100
LNG Joint Venture [Member]
Annual fee to related party	125		125
LNG Joint Venture [Member] | Scenario, Forecast [Member]
Annual fee to related party	$ 135		$ 135

Related Parties (Schedule of Re

Related Parties (Schedule of Related Party Transactions) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Reorganization items (recovery of previously allocated fees)	$ 3,849	$ (102)
OSG Inc. [Member]
General and administrative	5,442	18,915
Depreciation	140	467
Severance and relocation costs	1,961	3,183
Reorganization items (recovery of previously allocated fees)	3,849	(102)
Total corporate overhead allocations from the Former Parent	$ 11,392	$ 22,463

Capital Stock and Stock Compe64

Capital Stock and Stock Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	May 02, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount			$ 30,000
Purchases Of Treasury Stock		$ 3,177
Stock Repurchase Program, Shares Repurchased During Period	160,000	160,000
Stock Repurchase Program, Shares Repurchased During Period, Average Price per Share	$ 19.86	$ 19.86
Restricted Stock [Member] | Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		38,938
Grants, options, per share		$ 20.03
Performance Based Restricted Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per share		19.73
TSR [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per share		$ 24.35
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares paid for tax withholding for share based compensation	969	13,961
Shares paid for tax withholding for share based compensation, per share amount	$ 19.69	$ 18.66
Management Incentive Compensation Plan [Member] | Time Based Restricted Stock [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		66,503
Weighted average grant date fair value per share		$ 18.91
Management Incentive Compensation Plan [Member] | Performance Based Restricted Units [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		30,856
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights		Each performance stock unit represents a contingent right to receive RSUs based upon the covered employees being continuously employed through the end of the period over which the performance goals are measured and shall vest as follows: (i) one-third of the target RSUs shall vest on December 31, 2019, subject to INSW's three-year earnings per share ("EPS") performance in the three-year EPS performance period relative to a target (the "EPS Target") set forth in the award agreements; (ii) one-third of the target RSUs shall vest on December 31, 2019, subject to INSW's return on invested capital ("ROIC") performance in the three-year ROIC performance period relative to a target rate (the "ROIC Target") set forth in the award agreements; and (iii) one-third of the target RSUs will be subject to INSW's three-year total shareholder return ("TSR") performance relative to that of a performance peer group over a three-year performance period ("TSR Target"). Vesting is subject in each case to the Human Resources and Compensation Committee of the Company's Board of Directors' certification of achievement of the performance measures and targets no later than March 15, 2020. The EPS Target and ROIC Target are performance conditions which, as of September 30, 2017, INSW management believes, are not yet considered probable of being achieved.
Management Incentive Compensation Plan [Member] | Performance Based Restricted Units [Member] | Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		20,638
Weighted average grant date fair value per share		$ 19.13
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights		Each performance stock unit represents a contingent right to receive RSUs based upon certain performance related goals being met and the covered employees being continuously employed through the end of the period over which the performance goals are measured. These performance awards shall vest on December 31, 2017, subject to INSW's ROIC performance for the year ended December 31, 2017 relative to a target rate (the "2017 ROIC Target") set forth in the award agreements. Vesting is subject in each case to the Human Resources and Compensation Committee of the Company's Board of Directors' certification of achievement of the performance measures and targets no later than March 31, 2018.
Management Incentive Compensation Plan [Member] | Performance Based Restricted Units [Member] | Management [Member] | October 12, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted		8,756
Management Incentive Compensation Plan [Member] | Stock Compensation Plan [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights		The performance metrics were modified as follows: (i) one-third of the target RSUs shall vest on December 31, 2018, subject to INSW's three-year EPS performance in the three-year EPS performance period relative to the same compounded annual growth rate (the "Modified EPS Target") set forth in the original OSG award agreements; (ii) one-third of the target RSUs shall vest on December 31, 2018, subject to a proportionate average of OSG's ROIC performance for the first eleven months and INSW's ROIC performance for the last twenty-five months of the three-year ROIC performance period relative to the same target rate used under the original OSG award agreements (the "Modified ROIC Target"); and (iii) one-third of the target RSUs will be subject to a three-year TSR performance relative to that of the same performance peer group used under the original OSG award, over a three-year TSR performance period ("Modified TSR Target"). The TSR performance shall be measured using a proportionate average of the TSR performance of OSG for the first eleven months and INSW's TSR performance for the last twenty-five months in the three-year TSR performance period.
Granted, options		148,271
Grants, options, per share		$ 9.23
Fair value assumptions, method used		Black-Scholes option pricing model
Fair value assumptions, expected dividend rate		0.00%
Fair value assumptions, expected volatility factor		0.44%
Fair value assumptions, expected life		6 years
Share-based compensation arrangement by share-based payment award, plan modification, incremental compensation cost		$ 124
Management Incentive Compensation Plan [Member] | Stock Compensation Plan [Member] | Minimum [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value assumptions, risk free interest rate		1.95%
Management Incentive Compensation Plan [Member] | Stock Compensation Plan [Member] | Maximum [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value assumptions, risk free interest rate		2.11%
Management Incentive Compensation Plan [Member] | Common Class A [Member] | Stock Compensation Plan [Member] | Minimum [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	14.03	$ 14.03
Management Incentive Compensation Plan [Member] | Common Class A [Member] | Stock Compensation Plan [Member] | Maximum [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price	$ 22.42	$ 22.42

Accumulated Other Comprehensi65

Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Loss [Abstract]
Unrealized losses on derivative instruments	$ (33,639)	$ (40,317)
Items not yet recognized as a component of net periodic benefit cost (pension plans)	(12,981)	(11,950)
Accumulated other comprehensive loss	$ (46,620)	$ (52,267)

Accumulated Other Comprehensi66

Accumulated Other Comprehensive Loss (Changes in Components of AOCI, Net of Related Taxes) (Alternate) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Balance, beginning			$ 1,179,512	$ 1,383,786
Current period change, excluding amounts reclassified from accumulated other comprehensive loss	$ (1,055)	$ 2,652	(4,118)	(12,019)
Amounts reclassified from accumulated other comprehensive loss	3,122	3,961	9,765	12,193
Other Comprehensive Income/(Loss), net of tax	2,067	6,613	5,647	174
Balance, ending	1,169,086	1,224,769	1,169,086	1,224,769
Accumulated Other Comprehensive Loss [Member]
Balance, beginning	(48,687)	(70,563)	(52,267)	(64,124)
Other Comprehensive Income/(Loss), net of tax			5,647	174
Balance, ending	(46,620)	(63,950)	(46,620)	(63,950)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Balance, beginning	(36,065)	(60,884)	(40,317)	(53,446)
Current period change, excluding amounts reclassified from accumulated other comprehensive loss	(696)	2,302	(3,087)	(13,368)
Amounts reclassified from accumulated other comprehensive loss	3,122	3,961	9,765	12,193
Other Comprehensive Income/(Loss), net of tax	2,426	6,263	6,678	(1,175)
Balance, ending	(33,639)	(54,621)	(33,639)	(54,621)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Balance, beginning	(12,622)	(9,637)	(11,950)	(10,636)
Current period change, excluding amounts reclassified from accumulated other comprehensive loss	(359)	350	(1,031)	1,349
Other Comprehensive Income/(Loss), net of tax	(359)	350	(1,031)	1,349
Balance, ending	$ (12,981)	(9,287)	$ (12,981)	(9,287)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance, beginning		(42)		(42)
Balance, ending		$ (42)		$ (42)

Accumulated Other Comprehensi67

Accumulated Other Comprehensive Loss (Amounts Reclassified out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Unrealized losses on available-for-sale securities:
Equity in income of affiliated companies	$ (21,793)	$ (47,033)	$ (15,337)	$ 39,589
Interest expense	(11,030)	(9,519)	(29,071)	(29,951)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Unrealized losses on available-for-sale securities:
Total reclassified out of AOCL, before tax	(3,122)	(3,961)	(9,765)	(12,193)
Interest Rate Swap [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Unrealized losses on available-for-sale securities:
Equity in income of affiliated companies	$ (3,122)	(3,804)	(9,634)	(11,949)
Interest Rate Cap [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Unrealized losses on available-for-sale securities:
Interest expense		$ (157)	$ (131)	$ (244)

Leases (Narrative) (Details)

Leases (Narrative) (Details)	Sep. 30, 2017property
Charter-In [Member]
Leases [Line Items]
Commitments to charter in vessels, Number of Units	7
Bareboat Charters-In [Member]
Leases [Line Items]
Commitments to charter in vessels, Number of Units	3
Time Charters-In [Member]
Leases [Line Items]
Commitments to charter in vessels, Number of Units	4

Leases (Bareboat and Time Chart

Leases (Bareboat and Time Charters-In) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Bareboat Charters-In [Member]
Leases [Line Items]
2,017	$ 1,610
2,018	1,841
Net minimum lease payments	$ 3,451
2017, operating days	244 days
2018, operating days	279 days
Operating days, total	523 days
Time Charters-In [Member]
Leases [Line Items]
2,017	$ 6,677
2,018	10,534
Net minimum lease payments	$ 17,211
2017, operating days	733 days
2018, operating days	968 days
Operating days, total	1701 days

Leases (Future Minimum Revenues

Leases (Future Minimum Revenues on Charters-Out) (Details) - Charters-Out [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2,017	$ 10,897
2,018	2,305
Future minimum revenues	$ 13,202
2017, revenue days	749 days
2018, revenue days	282 days
Revenue Days	1031 days

Reorganization Items, net (Narr

Reorganization Items, net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Reorganization items settled as contribution from (distribution to) parent	$ 3,849		$ (102)
OSG Inc. [Member]
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Bankruptcy proceedings, date petition for bankruptcy filed		Nov. 14, 2012
Bankruptcy proceedings, court where petition was filed		U.S. Bankruptcy Court for the District of Delaware
Plan of reorganization, date plan is effective		Aug. 5, 2014

Reorganization Items, net (Sche

Reorganization Items, net (Schedule of Reorganization Items) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Reorganization Items, net [Abstract]
Allocated trustee fees	$ 20	$ 60
Allocated professional fees (distribution)	552	(3,439)
Other claim adjustments	3,277	3,277
Reorganization items (recovery), total	$ 3,849	$ (102)

Contingencies (Narrative) (Deta

Contingencies (Narrative) (Details) £ in Thousands, $ in Thousands	1 Months Ended
	Sep. 30, 2017USD ($)	Oct. 31, 2015GBP (£)	Oct. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2017GBP (£)	Sep. 30, 2017USD ($)
Galveston Accident [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 25,000
Merchant Navy Ratings Pension Fund [Member]
Loss Contingencies [Line Items]
Defined benefit plan, contributions by employer		£ 639	$ 988	$ 1,487
Other liabilities, current					£ 290	$ (388)