May 10, 2023
Luxembourg – May 10th , 2023 – d’Amico International Shipping S.A. (Borsa Italiana: DIS) (the “Company”or “DIS”), an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d’Amico Tankers D.A.C. (Ireland) (“d’Amico Tankers”), exercised its purchase option on the existing bareboat charter-in contract for the MT High Trader (“the Vessel”), a 49,990 dwt medium-range product tanker vessel built in October 2015 by Hyundai Mipo, South Korea at their Vinashin facility in Vietnam, for a consideration of approximately US$ 21.6 million. d’Amico Tankers expects to acquire ownership of the Vessel on around July 20th, 2023, and the purchase price might be slightly modified to reflect the exact date of delivery.
As of today, DIS’ fleet comprises 36 double-hulled product tankers (MR, Handysize and LR1, of which 22 owned, 8 chartered-in and 6 bareboat chartered-in) with an average age of about 7.9 years for its owned and bareboat chartered-in vessels.
Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping, stated: “I’m happy to report the exercise of yet another purchase option on one of DIS’ bareboat chartered-in vessels. This time, DIS will acquire the full ownership of MT High Trader, a modern Eco-MR vessel built at the end of 2015 by a top-quality shipyard and that we had sold and leased back in 2018. This transaction, as for the other similar deals we have recently concluded, allows DIS to considerably reduce its financial leverage and breakeven. As for the other bareboat chartered-in vessels we have being purchasing recently, we will keep this ship debt-free, at least for the time being.”
From today this press release is available on the investor relations section of DIS’ website, filed with the CSSF, disclosed through the e-market SDIR circuit, and stored at Borsa Italiana S.p.A. through the emarketSTORAGE system and at Société de la Bourse de Luxembourg S.A. in its quality of OAM.