Scorpio Group president Robert Bugbee gets credit for coining the term “prexit” to describe private equity’s attempts to escape investments in public shipping companies that, in many cases, have not gone well.

But International Seaways executives deserve some recognition for presiding over a prexit that, if not complete, is at least most of the way there.

Two of the three largest private equity shareholders in International Seaways — since the Overseas Shipholding Group bankruptcy in 2012 — have significantly sold down their stakes, public records indicate.