D’Amico Buys Chartered-In MR Tanker

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Italy’s d’Amico International Shipping (DIS) has declared a purchase option on the 2017-built MR product tanker High Adventurer, chartered in from Japanese owner Doun Kisen., says an article published on Splash.

Estimated price tag

Built by Onomichi Dockyard in Japan, the 50,000 dwt vessel, estimated by VesselsValue as worth $42.6m, will deliver in November this year for a price tag of around $30.4m.

Historical standards

“By exercising this purchase option, DIS acquires a top-quality Eco MR, built at a very reputable Japanese yard and at a price which is attractive by historical standards and around 20% below today’s price for a similar vessel, significantly lowering this vessel’s P&L and cash break-even,” said Paolo d’Amico, chairman and CEO of DIS.

Deal with a new loan

The Milan-listed firm, with a fleet of 35 product tankers, of which 17 are owned, said it would finance the deal with a new loan, expected to be secured “very soon and at very attractive terms”.

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Source: Splash

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