May 02, 2023
Luxembourg – May 2nd, 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 Trust (“the Vessel”), a 49,990 dwt medium-range product tanker vessel built in January 2016 by Hyundai Mipo, South Korea at their Vinashin facility in Vietnam, for a consideration of approximately US$ 22.2 million. d’Amico Tankers expects to acquire ownership of the Vessel in mid-July 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 glad to announce the exercise of this further purchase option on one of our bareboat chartered-in ships. This transaction allows us to buy back a top-quality, modern Eco-MR vessel built in 2016, which we had sold and leased back in 2018. As for the other purchase options we have exercised in the last few months, we will keep this vessel debt-free at least for the time being, with the objective of reducing DIS’ financial leverage and breakeven.”
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.