Home World d’AMICO International Shipping announced the sale of one of its oldest handy...

d’AMICO International Shipping announced the sale of one of its oldest handy size tanker

d’AMICO INTERNATIONAL SHIPPING S.A. ANNOUNCES THE SALE OF ONE OF
ITS HANDYSIZE VESSELS, GENERATING NET CASH OF APPROXIMATELY US$ 8.8 MILLION

d’Amico International Shipping S.A., 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”), signed a memorandum of agreement for the sale of the MT Cielo di Guangzhou (the “Vessel”), a 38,877 dwt Handysize product tanker vessel, built in 2006 by Guangzhou Shipyard International, China, for a consideration of US$ 8.8 million.

This transaction allows d’Amico Tankers to generate at the Vessel’s delivery around US$ 8.8 million in cash, net of commissions and having already fully reimbursed the vessel’s bank loan in March 2020.

As of today, DIS’ fleet comprises 45.5 double-hulled product tankers (MR, Handysize and LR1, of which 23.5 owned, 13 chartered-in and 9 bareboat chartered-in. DIS has also 1 vessel in commercial management) with an average age of about 6.9 years for its owned and bareboat chartered-in vessels.

Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping, stated:

“I am glad to announce the conclusion of this sale transaction, which will further strengthen our liquidity position through a net cash generation of approximately US$ 8.8 million. In addition, the MT Cielo di Guangzhou was one of the oldest ship in our fleet, built in 2006, and through this deal we continue to pursue our long-term objective of controlling a young and efficient product tanker fleet.”

From today this press release is available on the investor relations section of DIS website, filed with CSSF, disclosed through the e-market SDIR circuit and stored at Borsa Italiana S.p.A. through the e-market STORAGE system and at Société de la Bourse de Luxembourg S.A. in its quality of OAM.