d’Amico International Shipping S.A. (Borsa Italiana: DIS.IM and OTCQX Best Market: DMCOF), an international marine transportation company operating in the product tanker market, recently announced that its operating subsidiary d’Amico Tankers d.a.c., signed a memorandum of agreement for the sale of the MT High Tide, a 51,768 dwt MR product tanker vessel, built in 2012 by Hyundai Mipo, South Korea, for a total consideration of $28.5 million, with delivery to the buyers by November 2026.
Thanks to this transaction d’Amico Tankers will sell the oldest and last remaining non-eco vessel in its fleet and will generate approximately $28 million in cash upon its delivery to the buyers, net of commissions.
As of today, DIS’ fleet comprises 28 double-hulled product tankers (MR, Handysize and LR1, of which 27 owned, and 2 bareboat chartered-in), with an average age of approximately 9.8 years.
Carlos di Mottola, Chief Executive Officer of d’Amico International Shipping, stated:
“I am pleased to announce the sale of the High Tide, the oldest and last remaining non-eco vessel in our fleet, at a very attractive price compared to historical averages, reflecting the product tanker market’s current strength and its sound fundamentals. Following this transaction, DIS’ fleet will be fully ‘eco’, further enhancing our commercial competitiveness while reducing our environmental footprint.”
About d’Amico International Shipping S.A.
d’Amico International Shipping S.A. is a subsidiary of d’Amico Società di Navigazione S.p.A., one of the world’s leading privately owned marine transportation companies, and operates in the product tankers sector, comprising vessels that typically carry refined petroleum products, chemical and vegetable oils. d’Amico International Shipping S.A. controls, through its fully-owned subsidiary, d’Amico Tankers d.a.c., Dublin, either through ownership or charter arrangements, a modern and double-hulled fleet, ranging from 35,000 and 75,000 deadweight tons. The Company has a long history of family enterprise and a worldwide presence with offices in key market maritime canters (London, Dublin, Monaco, Singapore and New York). The Company’s shares are listed on the Milan Stock Exchange under the ticker symbol ’DIS.MI’ and are traded also on the OTCQX Best Market in the US, under the ticker symbol ‘OTCQX: DMCOF’.
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