CAPITAL LINK INSIGHTS
d’Amico International Shipping S.A. (Borsa Italiana: DIS) more than doubled its quarterly profit after one of the strongest product tanker markets in recent years lifted freight earnings, with disruptions in the Middle East pushing spot rates to record levels during the second quarter.
The Luxembourg-based owner reported net profit of $51.9 million for Q2, compared to $19.6 million during the same period last year. First-half net profit reached $79.4 million, up from $38.5 million in the first 6 months of 2025. Adjusted net profit, which excludes vessel sales and other one-off financial items, was at $47.9 million for the quarter and $74.8 million for the half year.
TCE earnings climbed to $88.6 million from $66.9 million last year. For the first half of 2026, TCE earnings increased to $155.0 million from $129.8 million. Total net revenue was $89.9 million during the quarter and $157.4 million during the first half.
Spot market: the biggest driver behind the results
d’Amico achieved an average spot TCE of $57,547 per day in Q2, more than double the $24,497 per day earned a year earlier. First-half spot earnings averaged $44,247 daily, compared with $22,655 per day in 2025. Including vessels employed on fixed-rate contracts, the fleet generated an average blended TCE of $35,833 per day during the quarter and $31,125 per day in 2026 so far.
Unlike many tanker owners that rely almost entirely on the spot market, d’Amico entered the year with a large portion of its fleet already covered by fixed-rate employment. During the first half, 63.7% of available vessel days were secured under time-charter contracts at an average rate of $23,646 per day, giving the company stable cash flow while still allowing it to benefit from strong spot earnings on the remaining vessels.
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SOURCE CAPITAL LINK INSIGHTS
https://www.linkedin.com/pulse/damico-posts-strongest-quarterly-profit-years-tanker-rates-ig34f/
