International Seaways, Inc. is one of the world’s leading providers of crude, product, and chemical tanker services. Operating a fleet of 76 vessels across global shipping lanes, the company delivers reliable transportation to customers through voyage charters, commercial pools, and time charters. Since launching operations through its predecessor company in 2016, International Seaways has continued to expand its reach and capabilities while maintaining a steadfast commitment to safety, efficiency, and innovation.
Business Challenges
As International Seaways evolved, its finance organization began to feel the strain of legacy technology. Reporting limitations within the existing E-Business Suite tools hindered the team’s ability to quickly access and analyze critical data. In addition, following a major divestiture, the company’s on-premises systems lacked the scalability and flexibility needed to support its new business structure and dynamic operating environment. Leadership recognized that modernizing the finance platform was essential to delivering the insight and agility required for continued growth.
Approach
To address these challenges, International Seaways partnered with Peloton Consulting Group to implement Oracle Cloud ERP, leveraging core modules including General Ledger, Accounts Payable, Fixed Assets, and Cash Management. Oracle’s PaaS interface platform enabled seamless integration between line-of-business applications and the ERP Cloud, ensuring a unified and efficient flow of information across systems. Peloton employed a hybrid delivery model that combined on-site U.S.-based expertise with its Global Delivery Hub. This allowed International Seaways to optimize execution, accelerate delivery, and reduce project costs. Together, these efforts created a modern, cloud-based financial management environment capable of adapting to the company’s evolving needs.
Business Impact
The transformation delivered tangible results. International Seaways replaced its previous invoice imaging process and application with a streamlined, automated approach, dramatically improving the efficiency and accuracy of invoicing. By moving to the cloud, the company gained a flexible and scalable platform that supports its changing business dynamics and provides room for future customization. Enhanced integration and more detailed data availability have unlocked superior reporting capabilities, enabling the finance team to view performance from multiple angles and derive actionable insights to guide strategic decisions.
Summary
Through its partnership with Peloton and the implementation of Oracle Cloud ERP, International Seaways successfully modernized its financial operations, creating a more agile and data-driven environment. The company now benefits from improved invoicing processes, greater scalability, and richer reporting capabilities. By leveraging these critical tools for navigating a complex, rapidly changing global shipping market, International Seaways can chart a smarter course for continued growth and operational excellence.
