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<P STYLE="margin: 0; font-size: 10pt; text-align: center"><B>As filed with the Securities and Exchange Commission
on August 4, 2021</B></P>

<P STYLE="margin: 0 0 24pt; font-size: 10pt; text-align: right"><B>Registration No. 333-255774</B></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Washington, D.C. 20549</B></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>Post-Effective Amendment No.&nbsp;1</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>on </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Form S-8 to Form S-4</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>UNDER </I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><I>THE SECURITIES ACT OF 1933 </I></B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>INTERNATIONAL SEAWAYS, INC.</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center"><B>(Exact Name of Registrant as Specified in
Its Charter)</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="padding: 0.25pt; width: 50%; font-size: 10pt; text-align: center"><B>Marshall Islands</B></TD>
    <TD STYLE="padding: 0.25pt; width: 50%; font-size: 10pt; text-align: center"><B>98&#45;0467117</B></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; font-size: 10pt; text-align: center"><B>(State or Other Jurisdiction
    of<BR>
    Incorporation or Organization)</B></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt; text-align: center"><B>(I.R.S. Employer<BR>
    Identification No.)</B></TD></TR>
  </TABLE>
<P STYLE="margin: 12pt 0 10pt; font-size: 10pt; text-align: center"><B>600 Third Avenue, 39th Floor<BR>
New York, New York 10016<BR>
(Address, Including Zip Code, of Principal Executive Offices)</B></P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center"><B>Diamond S Shipping Inc. 2019 Equity and Incentive
Compensation Plan</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center"><B>&nbsp;(Full Title of the Plan)</B></P>

<P STYLE="margin: 0 0 10pt; font-size: 10pt; text-align: center"><B>James D. Small III, Esq.<BR>
Chief Administrative Officer, Senior Vice President, Secretary and General Counsel<BR>
International Seaways, Inc.<BR>
600 Third Avenue, 39th&nbsp;Floor<BR>
New York, New York 10016<BR>
(212) 578-1600<BR>
(Name, Address and Telephone Number, Including Area Code, of Agent for Service)</B></P>

<P STYLE="margin: 0 0 10pt; font-size: 10pt; text-align: center"><B><I>COPY TO:</I></B></P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center"><B>Jeffrey D. Karpf, Esq.</B></P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center"><B>Audry X. Casusol, Esq.<BR>
Cleary Gottlieb Steen &amp; Hamilton LLP</B></P>




<P STYLE="margin: 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center">One Liberty Plaza<BR>
New York, New York 10006</P>

<P STYLE="margin: 0; font-size: 10pt; text-align: center"><B>(212) 225-2000</B></P>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, smaller reporting company or emerging growth company. See definitions of &#8220;large
accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221;
in Rule&nbsp;12b&#45;2 of the Exchange Act.</P>

<P STYLE="margin: 0; font-size: 10pt">Large accelerated filer&nbsp;&#9744;&#9; &nbsp;&nbsp;&nbsp;Accelerated
filer&nbsp;&#9746;&#9; &nbsp;&nbsp;&nbsp;Non-accelerated filer&nbsp;&#9744;&#9; &nbsp;&nbsp;&nbsp;&nbsp;Smaller reporting company&nbsp;&#9744;</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt">Emerging growth company&nbsp;&#9746;</P>

<P STYLE="margin: 0 0 0pt; font-size: 10pt">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section&nbsp;13(a)&nbsp;of the Exchange Act. &#9746;</P>

<P STYLE="margin: 0 0 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title of Securities<BR>
To Be Registered</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount<BR>
To&nbsp;Be<BR>
Registered (1)</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed<BR>
Maximum<BR>
Offering&nbsp;Price<BR>
Per Share (2)</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed<BR>
Maximum<BR>
Aggregate<BR>
Offering&nbsp;Price (2)</B></FONT></TD>
    <TD STYLE="width: 15%; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount&nbsp;Of<BR>
Registration Fee</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Common Stock, no par value</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt">73,005</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49px; padding: 0.25pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt"><FONT STYLE="font-size: 10pt">This registration statement (&#8220;<B><I>Registration
    Statement</I></B>&#8221;) covers 73,005 shares of common stock, no par value (the &#8220;<B><I>Common Stock</I></B>&#8221;) of
    International Seaways, Inc. (the &#8220;<B><I>Registrant</I></B>&#8221;) which may be offered or sold from time to time pursuant to
    certain equity awards (the &#8220;<B><I>Rollover Equity Awards</I></B>&#8221;) granted under the Diamond S Shipping Inc. 2019 Equity
    and Incentive Compensation Plan, amended as of March 27, 2019 (the &#8220;<B><I>Diamond S Plan</I></B>&#8221;) that were assumed by
    the Registrant in connection with the Agreement and Plan of Merger, dated as of March 30, 2021 (the &#8220;<B><I>Merger
    Agreement</I></B>&#8221;), by and between the Registrant, Dispatch Transaction Sub, Inc., a Republic of the Marshall Islands
    corporation and wholly owned subsidiary of the Registrant (&#8220;<B><I>Merger Sub</I></B>&#8221;), and Diamond S Shipping Inc.
    (&#8220;<B><I>Diamond S</I></B>&#8221;), pursuant to which Merger Sub was merged with and into Diamond S, whereupon the separate
    existence of Merger Sub ceased, with Diamond S continuing as the surviving corporation (the &#8220;<B><I>Merger</I></B>&#8221;) as a
    wholly owned subsidiary of the Registrant.&nbsp;&nbsp;The Rollover Equity Awards are in the form of restricted stock and will
    continue on the same terms and conditions, <I>mutatis mutandis</I>, as were applicable to such Rollover Equity Awards immediately
    prior to the effective time pursuant to the Diamond S Plan (but taking into account any changes thereto, including any necessary
    changes to any issuance provisions, provided for or permitted in the Diamond S Plan or in any applicable award agreement by reason
    of the Merger Agreement or the Merger).&nbsp;&nbsp;Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the
    &#8220;<B><I>Securities Act</I></B>&#8221;), this Registration Statement shall also cover any additional shares of Common Stock that
    become issuable in connection with the Rollover Equity Awards by reason of any stock dividend, stock split, recapitalization or
    other similar transaction affected without the receipt of consideration that increases the number of the Registrant&#8217;s
    outstanding shares of Common Stock.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">These shares were registered under the registration statement on Form S-4 (File No. 333-255774) filed under the Securities Act with the Securities and Exchange Commission (the &#8220;<B><I>Commission</I></B>&#8221;) on May 5, 2021, as amended by Pre-Effective Amendment No. 1, filed on June 3, 2021 (together, the &#8220;<B><I>Form S-4</I></B>&#8221;). All filing fees payable in connection with the issuance of these shares were previously paid in connection with the filing of the Form S-4. </FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">The Registrant hereby amends its Form S-4 by
filing this Post-Effective Amendment No.&nbsp;1 on Form S-8 relating to the Rollover Equity Awards granted under the Diamond S Plan.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">Pursuant to the Merger Agreement, on July 16,
2021, the Merger occurred and, at the effective time of the Merger, the Registrant assumed the Rollover Equity Awards. The Rollover Equity
Awards will continue on the same terms and conditions, <I>mutatis mutandis</I>, as were applicable to such Rollover Equity Awards immediately
prior to the effective time pursuant to the Diamond S Plan (but taking into account any changes thereto, including any necessary changes
to any issuance provisions, provided for or permitted in the Diamond S Plan or in any applicable award agreement by reason of the Merger
Agreement or Merger). All such common stock was previously registered on the Form S-4 but will be subject to issuance pursuant to this
Registration Statement.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center"><B>PART I</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center">INFORMATION REQUIRED IN THE<BR>
SECTION 10(a) PROSPECTUS</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">The information specified in Items 1 and 2
of Part I of the Form S-8 is omitted from this filing in accordance with the provisions of Rule 428 under the Securities Act and the
introductory note to Part I of the Form S-8. The document(s) containing the information specified in Part I of Form S-8 will be sent
or given to the recipients of the applicable grants, as required by Rule 428 under the Securities Act. Such documents are not being filed
with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424.
These documents and the documents incorporated by reference in this Registration Statement pursuant to Item&nbsp;3 of Part II hereof,
taken together, constitute a prospectus that meets the requirements of Section&nbsp;10(a) of the Securities Act.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center"><B>PART II</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center">INFORMATION REQUIRED IN THE<BR>
REGISTRATION STATEMENT</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt"><B>Item&nbsp;3.</B>&nbsp;<B>Incorporation of Certain Documents
by Reference</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">The following documents of the Registrant (Commission
File No.&nbsp;001&#45;37836) filed with the Commission are incorporated herein by reference:</P>

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  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; width: 25px; padding: 0.25pt 0.25pt 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; width: 73px; padding: 0.25pt 0.25pt 12pt">(a)</TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt 0.25pt 12pt">The Registrant&#8217;s Annual Report on Form 10-K, filed with the Commission
    on March&nbsp;12, 2021;</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; padding: 0.25pt 0.25pt 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt 0.25pt 12pt">(b)</TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt 0.25pt 12pt">The Registrant&#8217;s Quarterly Report on Form 10-Q, filed with the
    Commission on May&nbsp;6, 2021;</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; font-size: 10pt; vertical-align: top">(c)</TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt 0.25pt 12pt">The Registrant&#8217;s definitive proxy statement on Schedule 14A filed
    with the Commission on April 23, 2021, to the extent incorporated by reference in our Annual Report on Form 10-K for the fiscal year
    ended December 31, 2020;</TD></TR>
</TABLE>

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<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

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  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; padding: 0.25pt 0.25pt 12pt; width: 25px">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt 0.25pt 12pt; width: 73px">(d)</TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt 0.25pt 12pt">The Registrant&#8217;s Current Reports on Form 8&#45;K, filed with the
    Commission on March&nbsp;11, 2021, March 22, 2021, March&nbsp;31,&nbsp;2021, April 5, 2021, April&nbsp;6, 2021, June&nbsp;3, 2021,
    June 4, 2021, June&nbsp;30, 2021, July 9, 2021, July 13, 2021 and July&nbsp;16, 2021 (other than the documents, or portions thereof,
    deemed to be furnished and not filed); and</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; padding: 0.25pt 0.25pt 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt 0.25pt 12pt">(e)</TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt 0.25pt 12pt">The description of the Common Stock of the Registrant contained in the
    Registrant&#8217;s registration statement on Form 10 as filed with the Commission pursuant to the Exchange Act on July 15, 2016,
    including any amendment or report filed for the purpose of updating such description.</TD></TR>
  </TABLE>
<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">All other reports and other documents filed
(but not furnished) by the Registrant since the end of the fiscal year covered by the Annual Report pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Securities Exchange Act of 1934 (the &#8220;<B><I>Exchange Act</I></B>&#8221;) prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall
be deemed to be incorporated by reference herein and to be a part of this Registration Statement from the date of the filing of such
reports and documents.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">The following documents of Diamond S (Commission
File No.&nbsp;001&#45;38771) filed with the Commission are incorporated herein by reference:</P>

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<TD STYLE="font-size: 10pt; width: 22.5pt"></TD><TD STYLE="font-size: 10pt; width: 45pt">(a)</TD><TD STYLE="font-size: 10pt">Diamond S&#8217;s consolidated financial statements as of December
                                            31, 2020 and 2019 and for the years ended December 31, 2020 and 2019, and the nine months
                                            ended December 31, 2018 and the related Report of Independent Registered Public Accounting
                                            Firm thereon (incorporated by reference to Diamond S&#8217;s Annual Report on Form 10-K and
                                            Form 10-K/A for the fiscal year ended December 31, 2020, filed with the Commission on March
                                            16, 2021 and April 30, 2021, respectively); and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0; margin-bottom: 12pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 22.5pt"></TD><TD STYLE="font-size: 10pt; width: 45pt">(b)</TD><TD STYLE="font-size: 10pt">Diamond S&#8217;s condensed consolidated financial statements as of
                                            March 31, 2021 and for the three months ended March 31, 2021 and 2020 (incorporated by reference
                                            to Diamond S&#8217;s Quarterly Report on Form 10-Q for the quarterly period ended March 31,
                                            2021, filed with the Commission on May 10, 2021).</TD></TR></TABLE>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 22.5pt">For purposes of this Registration Statement,
any document or any statement contained in a document incorporated or deemed to be incorporated herein by reference shall be deemed to
be modified or superseded to the extent that a subsequently filed document or a statement contained herein or in any other subsequently
filed document which also is or is deemed to be incorporated herein by reference modifies or supersedes such document or such statement
in such document. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part
of this Registration Statement.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt"><B>Item&nbsp;4.</B>&nbsp;<B>Description of Securities</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">Not applicable.</P>


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<P STYLE="margin: 0 0 12pt; font-size: 10pt"><B>Item&nbsp;5.</B>&nbsp;<B>Interests of Named Experts and Counsel</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">Not applicable.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt"><B>Item&nbsp;6.</B>&nbsp;<B>Indemnification of Directors and Officers</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">Under the Republic of the Marshall Islands
(&#8220;<B><I>RMI</I></B>&#8221;) Business Corporations Act (the &#8220;<B><I>BCA</I></B>&#8221;), a Marshall Islands corporation shall
have the power to indemnify any person who was or is a party or is threatened to be made a party to or a witness in or is otherwise involved
in any threatened, pending or completed action, suit, claim, inquiry or proceeding whether civil, criminal, administrative or investigative
(including an action by or in the right of the corporation) and whether formal or informal, by reason of the fact that he or she, or
a person for whom he or she is the legal representative, is or was a director or officer of the corporation, or, while a director or
officer of the corporation, is or was serving at the request of the corporation as a director, officer, employee, trustee or agent of
another corporation, partnership, joint venture, trust, nonprofit or other entity, including service with respect to employee benefit
plans, against all liability and loss suffered, and expenses (including attorneys&#8217; fees) actually and reasonably incurred by him
or her in connection with such action, suit or proceeding. The corporation shall be required to indemnify or advance expenses to such
a person in connection with a proceeding commenced by the person against the corporation only if the commencement of such proceeding
was authorized in the specific case by the Board of Directors or was brought to establish or enforce a right to indemnification under
the bylaws, the corporations articles of incorporation, any agreement, the laws of the RMI or otherwise.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">To the extent that a director or officer of
a Marshall Islands corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to
in the preceding paragraphs, or in the defense of a claim, issue or matter therein, he or she shall be indemnified against expenses (including
attorneys&#8217; fees) actually and reasonably incurred by him or her in connection therewith. Expenses incurred in defending a civil
or criminal action, suit or proceeding may be paid in advance of the final disposition of such action, suit or proceeding as authorized
by the board of directors in the specific case upon receipt of an undertaking by or on behalf of the director or officer to repay such
amount unless it shall ultimately be determined that he or she is entitled to be indemnified by the corporation as authorized in the
BCA.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">In addition, a Marshall Islands corporation
has the power to purchase and maintain insurance on behalf of any person who is or was a director or officer of the corporation or is
or was serving at the request of the corporation as a director or officer against any liability asserted against him or her and incurred
by him or her in such capacity whether or not the corporation would have the power to indemnify him or her against such liability under
the provisions of the BCA. The indemnification provisions of the BCA are not exclusive of any other rights under any bylaw, agreement,
vote of stockholders or disinterested directors or otherwise.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">The Registrant&#8217;s Amended and Restated
Articles of Incorporation limits the liability of its directors to the fullest extent permitted by the BCA and requires that the Registrant
will provide them with customary indemnification.</P>


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<P STYLE="margin: 0 0 12pt; font-size: 10pt"><B>Item&nbsp;7.</B>&nbsp;<B>Exemption from Registration Claimed</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">Not applicable.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt"><B>Item&nbsp;8.</B>&nbsp;<B>Exhibits</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">See the attached Exhibit Index, which
is incorporated herein by reference.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt"><B>Item&nbsp;9.</B>&nbsp;<B>Undertakings</B></P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">(a)&nbsp;The undersigned Registrant hereby
undertakes:</P>

<P STYLE="margin: 0 0 12pt 0.5in; font-size: 10pt; text-indent: 0.5in">(1)&nbsp;To file, during any period in
which offers or sales are being made, a post&#45;effective amendment to this Registration Statement:</P>

<P STYLE="margin: 0 0 12pt 1.5in; font-size: 10pt">(i) To include any prospectus required by Section&nbsp;10(a)(3)
of the Securities Act;</P>

<P STYLE="margin: 0 0 12pt 1.5in; font-size: 10pt">(ii) To reflect in the prospectus any facts or events arising
after the effective date of the Registration Statement (or the most recent post&#45;effective amendment thereof) which, individually
or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement; and</P>

<P STYLE="margin: 0 0 12pt 1.5in; font-size: 10pt">(iii) To include any material information with respect to
the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration
Statement;</P>

<P STYLE="margin: 0 0 12pt 0.5in; font-size: 10pt"><I>provided, however,</I> that paragraphs (a)(1)(i) and (a)(1)(ii)
do not apply if the Registration Statement is on Form S-8, and the information required to be included in a post&#45;effective amendment
by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section&nbsp;13 or
15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.</P>

<P STYLE="margin: 0 0 12pt 0.5in; font-size: 10pt; text-indent: 0.5in">(2) That, for the purpose of determining
any liability under the Securities Act, each such post&#45;effective amendment shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I>
offering thereof.</P>

<P STYLE="margin: 0 0 12pt 0.5in; font-size: 10pt; text-indent: 0.5in">(3) To remove from registration by means
of a post&#45;effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">(b) The undersigned Registrant hereby undertakes that, for purposes
of determining any liability under the Securities Act, each filing of the Registrant&#8217;s annual report pursuant to Section&nbsp;13(a)
or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section&nbsp;15(d)
of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona
fide</I> offering thereof.</P>



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<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">(h) Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions
described in Item&nbsp;6 above, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification
is against public policy as expressed in the Securities Act and is, therefore, unenforceable.&nbsp; In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>


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<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="margin: 0 0 10pt; font-size: 10pt; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City
of New York, State of New York, on this 4th day of August, 2021.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; width: 53%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; width: 5%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; width: 42%; padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">INTERNATIONAL SEAWAYS, INC.</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">By:</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt">/s/ James D. Small III</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">Name: James D. Small III</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">Title: Chief Administrative Officer, Senior Vice President, Secretary and General
    Counsel</TD></TR>
  </TABLE>
<P STYLE="margin: 10pt 0; font-size: 10pt">&nbsp;</P>


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<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center"><B><A NAME="a_001"></A>POWER OF ATTORNEY</B></P>

<P STYLE="margin: 0 0 10pt; font-size: 10pt; text-indent: 0.5in">KNOW ALL PERSONS BY THESE PRESENTS, that each
person whose signature appears below hereby constitutes and appoints each of Lois K. Zabrocky and James D. Small III, and each of them
acting individually, as his or her true and lawful attorney-in-fact, each with full power of substitution and resubstitution, for him
or her and in his or her name, place and stead, in any and all capacities (unless revoked in writing), to sign any and all amendments
(including post-effective amendments thereto) to this registration statement on Form S-8, and to file the same, with exhibits thereto
and other documents in connection therewith, with the Commission, granting to such attorney-in-fact and agents full power and authority
to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as full to all intents and
purposes as he or she might or could do in person, hereby ratifying and confirming all that such attorney-in-fact and agents, or their
or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed below by the following persons in the indicated capacities as of this 4th day
of August, 2021.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: bottom; width: 31%; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt">Signature</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; width: 48%; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt">Title</TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; width: 21%; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt">&nbsp;</TD>
    </TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

    <P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt">/s/ Lois K. Zabrocky</P>
    <P STYLE="margin: 0; font-size: 10pt">Lois K. Zabrocky</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>
    <P STYLE="margin: 0; font-size: 10pt">Director, President and Chief Executive Officer<BR>
    (Principal Executive Officer)</P>
    <P STYLE="margin: 0; font-size: 10pt">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>
    <P STYLE="margin: 0; font-size: 10pt; text-align: center"><BR>
    <BR></P>
    </TD>
    </TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt">/s/ Jeffrey Pribor</P>
    <P STYLE="margin: 0; font-size: 10pt">Jeffrey Pribor</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt">Chief Financial Officer<BR>
    (Principal Financial and Accounting Officer)</TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt; text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>
    <P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt">/s/ Douglas D. Wheat</P>
    <P STYLE="margin: 0; font-size: 10pt">Douglas D. Wheat</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt">Chairman of the Board</TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt; text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>
    <P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt">/s/ Timothy J. Bernlohr</P>
    <P STYLE="margin: 0; font-size: 10pt">Timothy J. Bernlohr</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt">Director</TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt; text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>
    <P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt">/s/ Ian T. Blackley</P>
    <P STYLE="margin: 0; font-size: 10pt">Ian T. Blackley</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt">Director</TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt; text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>
    <P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt">/s/ Alexandra K. Blankenship</P>
    <P STYLE="margin: 0; font-size: 10pt">Alexandra K. Blankenship</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt">Director</TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt; text-align: center">&nbsp;</TD>
    </TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>
    <P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt">/s/ Randee E. Day</P>
    <P STYLE="margin: 0; font-size: 10pt">Randee E. Day</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt">Director</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>
    <P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt">/s/ David Greenberg</P>
    <P STYLE="margin: 0; font-size: 10pt">David Greenberg</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt">Director</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>
    <P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt">/s/ Joseph I. Kronsberg</P>
    <P STYLE="margin: 0; font-size: 10pt">Joseph I. Kronsberg</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt">Director</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>
    <P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt">/s/ Nadim Z. Qureshi</P>
    <P STYLE="margin: 0; font-size: 10pt">Nadim Z. Qureshi</P></TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt">Director</TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="padding: 0.25pt; font-size: 10pt; vertical-align: top"><P STYLE="margin: 0; font-size: 10pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>
    <P STYLE="border-bottom: Black 1pt solid; margin: 0 24pt 0 0; font-size: 10pt"><FONT STYLE="text-decoration: none">/s/ Craig H. Stevenson, Jr</FONT></P>
    <P STYLE="margin: 0; font-size: 10pt"><FONT STYLE="text-decoration: none">Craig H. Stevenson, Jr.</FONT></P></TD>
    <TD STYLE="padding: 12pt 0.25pt 0.25pt; font-size: 10pt">Director</TD>
    <TD STYLE="font-size: 10pt; padding: 0.25pt; text-align: center">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>



<P STYLE="margin: 0 0 12pt; font-size: 10pt; text-align: center"><B>EXHIBIT INDEX</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 9%; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt">Exhibit<BR>
    Number</TD>
    <TD STYLE="font-size: 10pt; width: 91%; border-bottom: black 1.5pt solid; padding: 0.25pt 0.25pt 0.75pt; text-align: center">Description of Exhibit</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1679049/000114420416137731/v454150_ex3-1.htm">4.1</A></TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">Amended and Restated Articles of Incorporation (filed as Exhibit 3.1 to the Registrant&#8217;s
    Current Report on Form 8-K dated December 2, 2016 and incorporated herein by reference). </TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1679049/000114420416137731/v454150_ex3-2.htm">4.2</A></TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">Amended and Restated By-Laws (filed as Exhibit 3.2 to the Registrant&#8217;s
    Current Report on Form 8-K dated December 2, 2016 and incorporated herein by reference).</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><A HREF="ex4-3.htm">4.3</A></TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">Diamond S Shipping Inc. 2019 Equity and Incentive Compensation Plan (filed herewith).</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><A HREF="ex5-1.htm">5.1</A></TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">Opinion of Reeder &amp; Simpson P.C.</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><A HREF="ex23-1.htm">23.1</A></TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">Consent of Ernst &amp; Young LLP, Independent Registered Public Accounting Firm
    of International Seaways Inc.</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><A HREF="ex23-2.htm">23.2</A></TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">Consent of Deloitte &amp; Touche LLP, Independent Registered Public Accounting Firm of Diamond S Shipping Inc.</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><A HREF="ex5-1.htm">23.3</A></TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">Consent of Reeder &amp; Simpson P.C. (included in Exhibit 5.1).</TD></TR>
  <TR STYLE="font-size: 10pt">
    <TD STYLE="font-size: 10pt; vertical-align: top; padding: 0.25pt"><A HREF="#a_001">24</A></TD>
    <TD STYLE="font-size: 10pt; vertical-align: bottom; padding: 0.25pt">Power of Attorney (filed as part of signature page).</TD></TR>
  </TABLE>
<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0; font-size: 10pt"></P>

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{"company-data": {"conformed-name": "International Seaways, Inc.", "cik": "0001679049", "assigned-sic": "4400", "irs-number": "980467117", "state-of-incorporation": "1T", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-258464", "film-number": "211145207"}, "business-address": {"street1": "600 THIRD AVENUE", "street2": "39TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10016", "phone": "2129534100"}, "mail-address": {"street1": "600 THIRD AVENUE", "street2": "39TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10016"}, "former-company": {"former-conformed-name": "OSG International, INC", "date-changed": "20160707"}}
As filed with the Securities and Exchange Commission
on August 4, 2021
Registration No. 333-255774
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Post-Effective Amendment No. 1
on
Form S-8 to Form S-4
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
INTERNATIONAL SEAWAYS, INC.
(Exact Name of Registrant as Specified in
Its Charter)
Marshall Islands
98-0467117
(State or Other Jurisdiction
    of
Incorporation or Organization)
(I.R.S. Employer
Identification No.)
600 Third Avenue, 39th Floor
New York, New York 10016
(Address, Including Zip Code, of Principal Executive Offices)
Diamond S Shipping Inc. 2019 Equity and Incentive
Compensation Plan
(Full Title of the Plan)
James D. Small III, Esq.
Chief Administrative Officer, Senior Vice President, Secretary and General Counsel
International Seaways, Inc.
600 Third Avenue, 39th Floor
New York, New York 10016
(212) 578-1600
(Name, Address and Telephone Number, Including Area Code, of Agent for Service)
COPY TO:
Jeffrey D. Karpf, Esq.
Audry X. Casusol, Esq.
Cleary Gottlieb Steen & Hamilton LLP
One Liberty Plaza
New York, New York 10006
(212) 225-2000
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, smaller reporting company or emerging growth company. See definitions of "large
accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company"
in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐	    Accelerated
filer ☒	    Non-accelerated filer ☐	     Smaller reporting company ☐
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☒
CALCULATION OF REGISTRATION FEE
Title of Securities
To Be Registered
Amount
To Be
Registered (1)
Proposed
Maximum
Offering Price
Per Share (2)
Proposed
Maximum
Aggregate
Offering Price (2)
Amount Of
Registration Fee
Common Stock, no par value
73,005
N/A
N/A
N/A
(1)
This registration statement ("
Registration
    Statement
") covers 73,005 shares of common stock, no par value (the "
Common Stock
") of
    International Seaways, Inc. (the "
Registrant
") which may be offered or sold from time to time pursuant to
    certain equity awards (the "
Rollover Equity Awards
") granted under the Diamond S Shipping Inc. 2019 Equity
    and Incentive Compensation Plan, amended as of March 27, 2019 (the "
Diamond S Plan
") that were assumed by
    the Registrant in connection with the Agreement and Plan of Merger, dated as of March 30, 2021 (the "
Merger
    Agreement
"), by and between the Registrant, Dispatch Transaction Sub, Inc., a Republic of the Marshall Islands
    corporation and wholly owned subsidiary of the Registrant ("
Merger Sub
"), and Diamond S Shipping Inc.
    ("
Diamond S
"), pursuant to which Merger Sub was merged with and into Diamond S, whereupon the separate
    existence of Merger Sub ceased, with Diamond S continuing as the surviving corporation (the "
Merger
") as a
    wholly owned subsidiary of the Registrant.  The Rollover Equity Awards are in the form of restricted stock and will
    continue on the same terms and conditions,
mutatis mutandis
, as were applicable to such Rollover Equity Awards immediately
    prior to the effective time pursuant to the Diamond S Plan (but taking into account any changes thereto, including any necessary
    changes to any issuance provisions, provided for or permitted in the Diamond S Plan or in any applicable award agreement by reason
    of the Merger Agreement or the Merger).  Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the
    "
Securities Act
"), this Registration Statement shall also cover any additional shares of Common Stock that
    become issuable in connection with the Rollover Equity Awards by reason of any stock dividend, stock split, recapitalization or
    other similar transaction affected without the receipt of consideration that increases the number of the Registrant's
    outstanding shares of Common Stock.
(2)
These shares were registered under the registration statement on Form S-4 (File No. 333-255774) filed under the Securities Act with the Securities and Exchange Commission (the "
Commission
") on May 5, 2021, as amended by Pre-Effective Amendment No. 1, filed on June 3, 2021 (together, the "
Form S-4
"). All filing fees payable in connection with the issuance of these shares were previously paid in connection with the filing of the Form S-4.
EXPLANATORY NOTE
The Registrant hereby amends its Form S-4 by
filing this Post-Effective Amendment No. 1 on Form S-8 relating to the Rollover Equity Awards granted under the Diamond S Plan.
Pursuant to the Merger Agreement, on July 16,
2021, the Merger occurred and, at the effective time of the Merger, the Registrant assumed the Rollover Equity Awards. The Rollover Equity
Awards will continue on the same terms and conditions,
mutatis mutandis
, as were applicable to such Rollover Equity Awards immediately
prior to the effective time pursuant to the Diamond S Plan (but taking into account any changes thereto, including any necessary changes
to any issuance provisions, provided for or permitted in the Diamond S Plan or in any applicable award agreement by reason of the Merger
Agreement or Merger). All such common stock was previously registered on the Form S-4 but will be subject to issuance pursuant to this
Registration Statement.
PART I
INFORMATION REQUIRED IN THE
SECTION 10(a) PROSPECTUS
The information specified in Items 1 and 2
of Part I of the Form S-8 is omitted from this filing in accordance with the provisions of Rule 428 under the Securities Act and the
introductory note to Part I of the Form S-8. The document(s) containing the information specified in Part I of Form S-8 will be sent
or given to the recipients of the applicable grants, as required by Rule 428 under the Securities Act. Such documents are not being filed
with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424.
These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II hereof,
taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE
REGISTRATION STATEMENT
Item 3.
Incorporation of Certain Documents
by Reference
The following documents of the Registrant (Commission
File No. 001-37836) filed with the Commission are incorporated herein by reference:
(a)
The Registrant's Annual Report on Form 10-K, filed with the Commission
    on March 12, 2021;
(b)
The Registrant's Quarterly Report on Form 10-Q, filed with the
    Commission on May 6, 2021;
(c)
The Registrant's definitive proxy statement on Schedule 14A filed
    with the Commission on April 23, 2021, to the extent incorporated by reference in our Annual Report on Form 10-K for the fiscal year
    ended December 31, 2020;
(d)
The Registrant's Current Reports on Form 8-K, filed with the
    Commission on March 11, 2021, March 22, 2021, March 31, 2021, April 5, 2021, April 6, 2021, June 3, 2021,
    June 4, 2021, June 30, 2021, July 9, 2021, July 13, 2021 and July 16, 2021 (other than the documents, or portions thereof,
    deemed to be furnished and not filed); and
(e)
The description of the Common Stock of the Registrant contained in the
    Registrant's registration statement on Form 10 as filed with the Commission pursuant to the Exchange Act on July 15, 2016,
    including any amendment or report filed for the purpose of updating such description.
All other reports and other documents filed
(but not furnished) by the Registrant since the end of the fiscal year covered by the Annual Report pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Securities Exchange Act of 1934 (the "
Exchange Act
") prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall
be deemed to be incorporated by reference herein and to be a part of this Registration Statement from the date of the filing of such
reports and documents.
The following documents of Diamond S (Commission
File No. 001-38771) filed with the Commission are incorporated herein by reference:
(a)
Diamond S's consolidated financial statements as of December
                                            31, 2020 and 2019 and for the years ended December 31, 2020 and 2019, and the nine months
                                            ended December 31, 2018 and the related Report of Independent Registered Public Accounting
                                            Firm thereon (incorporated by reference to Diamond S's Annual Report on Form 10-K and
                                            Form 10-K/A for the fiscal year ended December 31, 2020, filed with the Commission on March
                                            16, 2021 and April 30, 2021, respectively); and
(b)
Diamond S's condensed consolidated financial statements as of
                                            March 31, 2021 and for the three months ended March 31, 2021 and 2020 (incorporated by reference
                                            to Diamond S's Quarterly Report on Form 10-Q for the quarterly period ended March 31,
                                            2021, filed with the Commission on May 10, 2021).
For purposes of this Registration Statement,
any document or any statement contained in a document incorporated or deemed to be incorporated herein by reference shall be deemed to
be modified or superseded to the extent that a subsequently filed document or a statement contained herein or in any other subsequently
filed document which also is or is deemed to be incorporated herein by reference modifies or supersedes such document or such statement
in such document. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part
of this Registration Statement.
Item 4.
Description of Securities
Not applicable.
Item 5.
Interests of Named Experts and Counsel
Not applicable.
Item 6.
Indemnification of Directors and Officers
Under the Republic of the Marshall Islands
("
RMI
") Business Corporations Act (the "
BCA
"), a Marshall Islands corporation shall
have the power to indemnify any person who was or is a party or is threatened to be made a party to or a witness in or is otherwise involved
in any threatened, pending or completed action, suit, claim, inquiry or proceeding whether civil, criminal, administrative or investigative
(including an action by or in the right of the corporation) and whether formal or informal, by reason of the fact that he or she, or
a person for whom he or she is the legal representative, is or was a director or officer of the corporation, or, while a director or
officer of the corporation, is or was serving at the request of the corporation as a director, officer, employee, trustee or agent of
another corporation, partnership, joint venture, trust, nonprofit or other entity, including service with respect to employee benefit
plans, against all liability and loss suffered, and expenses (including attorneys' fees) actually and reasonably incurred by him
or her in connection with such action, suit or proceeding. The corporation shall be required to indemnify or advance expenses to such
a person in connection with a proceeding commenced by the person against the corporation only if the commencement of such proceeding
was authorized in the specific case by the Board of Directors or was brought to establish or enforce a right to indemnification under
the bylaws, the corporations articles of incorporation, any agreement, the laws of the RMI or otherwise.
To the extent that a director or officer of
a Marshall Islands corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to
in the preceding paragraphs, or in the defense of a claim, issue or matter therein, he or she shall be indemnified against expenses (including
attorneys' fees) actually and reasonably incurred by him or her in connection therewith. Expenses incurred in defending a civil
or criminal action, suit or proceeding may be paid in advance of the final disposition of such action, suit or proceeding as authorized
by the board of directors in the specific case upon receipt of an undertaking by or on behalf of the director or officer to repay such
amount unless it shall ultimately be determined that he or she is entitled to be indemnified by the corporation as authorized in the
BCA.
In addition, a Marshall Islands corporation
has the power to purchase and maintain insurance on behalf of any person who is or was a director or officer of the corporation or is
or was serving at the request of the corporation as a director or officer against any liability asserted against him or her and incurred
by him or her in such capacity whether or not the corporation would have the power to indemnify him or her against such liability under
the provisions of the BCA. The indemnification provisions of the BCA are not exclusive of any other rights under any bylaw, agreement,
vote of stockholders or disinterested directors or otherwise.
The Registrant's Amended and Restated
Articles of Incorporation limits the liability of its directors to the fullest extent permitted by the BCA and requires that the Registrant
will provide them with customary indemnification.
Item 7.
Exemption from Registration Claimed
Not applicable.
Item 8.
Exhibits
See the attached Exhibit Index, which
is incorporated herein by reference.
Item 9.
Undertakings
(a) The undersigned Registrant hereby
undertakes:
(1) To file, during any period in
which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3)
of the Securities Act;
(ii) To reflect in the prospectus any facts or events arising
after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually
or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement; and
(iii) To include any material information with respect to
the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration
Statement;
provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii)
do not apply if the Registration Statement is on Form S-8, and the information required to be included in a post-effective amendment
by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or
15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.
(2) That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(3) To remove from registration by means
of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes
of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a)
or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d)
of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona
fide
offering thereof.
(h) Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions
described in Item 6 above, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification
is against public policy as expressed in the Securities Act and is, therefore, unenforceable.  In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City
of New York, State of New York, on this 4th day of August, 2021.
INTERNATIONAL SEAWAYS, INC.
By:
/s/ James D. Small III
Name: James D. Small III
Title: Chief Administrative Officer, Senior Vice President, Secretary and General
    Counsel
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each
person whose signature appears below hereby constitutes and appoints each of Lois K. Zabrocky and James D. Small III, and each of them
acting individually, as his or her true and lawful attorney-in-fact, each with full power of substitution and resubstitution, for him
or her and in his or her name, place and stead, in any and all capacities (unless revoked in writing), to sign any and all amendments
(including post-effective amendments thereto) to this registration statement on Form S-8, and to file the same, with exhibits thereto
and other documents in connection therewith, with the Commission, granting to such attorney-in-fact and agents full power and authority
to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as full to all intents and
purposes as he or she might or could do in person, hereby ratifying and confirming all that such attorney-in-fact and agents, or their
or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed below by the following persons in the indicated capacities as of this 4th day
of August, 2021.
Signature
Title
/s/ Lois K. Zabrocky
Lois K. Zabrocky
Director, President and Chief Executive Officer
(Principal Executive Officer)
/s/ Jeffrey Pribor
Jeffrey Pribor
Chief Financial Officer
(Principal Financial and Accounting Officer)
/s/ Douglas D. Wheat
Douglas D. Wheat
Chairman of the Board
/s/ Timothy J. Bernlohr
Timothy J. Bernlohr
Director
/s/ Ian T. Blackley
Ian T. Blackley
Director
/s/ Alexandra K. Blankenship
Alexandra K. Blankenship
Director
/s/ Randee E. Day
Randee E. Day
Director
/s/ David Greenberg
David Greenberg
Director
/s/ Joseph I. Kronsberg
Joseph I. Kronsberg
Director
/s/ Nadim Z. Qureshi
Nadim Z. Qureshi
Director
/s/ Craig H. Stevenson, Jr
Craig H. Stevenson, Jr.
Director
EXHIBIT INDEX
Exhibit
Number
Description of Exhibit
4.1
Amended and Restated Articles of Incorporation (filed as Exhibit 3.1 to the Registrant's
    Current Report on Form 8-K dated December 2, 2016 and incorporated herein by reference).
4.2
Amended and Restated By-Laws (filed as Exhibit 3.2 to the Registrant's
    Current Report on Form 8-K dated December 2, 2016 and incorporated herein by reference).
4.3
Diamond S Shipping Inc. 2019 Equity and Incentive Compensation Plan (filed herewith).
5.1
Opinion of Reeder & Simpson P.C.
23.1
Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm
    of International Seaways Inc.
23.2
Consent of Deloitte & Touche LLP, Independent Registered Public Accounting Firm of Diamond S Shipping Inc.
23.3
Consent of Reeder & Simpson P.C. (included in Exhibit 5.1).
24
Power of Attorney (filed as part of signature page).