International Seaways Turns Tide, Shares Up 5%

New York-based marine shipping company, International Seaways, Inc. (INSW), is up 5% in the Friday trading despite the company not reporting any stock-specific news to boost the shares.

The company operates with a fleet of vessels that transport crude oil and petroleum in International Flag Trade. International Seaways has 36 vessels and is employed by state-owned and independent companies globally. The company shares kept falling since the start of the month and by Thursday, the stock had lost 10% of its value.

The shares are currently trading hands at $17.44, down $0.81 or 4.87% since their previous close at $16.63. The shares opened at $16.98 and in the 52-week period, the shares have ranged between $12.44 and $22.39.

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