d’Amico International Shipping announces that its operating subsidiary d’Amico Tankers signed a memorandum of agreement for the sale of MT High Presence, a  48,700dwt medium-range product tanker vessel, built in 2005 by Imabari Shipbuilding for a consideration of US$ 14.14 million.

This transaction will generate at delivery of the vessel a positive cash effect, net of the reimbursement of the vessel’s existing bank loan, of around US$ 7.2 million for d’Amico Tankers, contributing to the liquidity required to complete their fleet renewal program.

In addition, d’Amico Tankers will retain the commercial control of the vessel, having also concluded a six-year time-charter agreement at a competitive rate.

As of now, d’Amico International Shipping’s fleet comprises 56.5 double-hulled product tankers with an average age of about 7.7 years (of which 28 owned vessels, 25.5 chartered in vessels and three bareboat chartered-in vessels).

d’Amico Tankers currently also has shipbuilding contracts with Hyundai Mipo Dockyard for the construction of five LR1s (Long Range) product tankers with expected delivery between 2017 and 2018.


Subscribe today from only £42.99 and save up to 53%, either as a special gift or as a treat for yourself!