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International Seaways (INSW) was founded in 1975 as Marine Transport Lines, Inc. (MTL). MTL was originally established in 1948 as a contract carrier of fuel oil and other petroleum products and remained primarily a product tanker operator until 2003. In 2003, MTL acquired Overseas Shipholding Group (OSG)'s international product tanker business, transforming MTL from a regional carrier to a global competitor in the international tanker shipping market.
