d’Amico International Shipping S.A. announces its memorandum of agreement for the sale of one of its handysize vessels, generating around US$ 8.8 million in cash, reads a press release published on their website.
What is in the memorandum of agreement?
International marine transportation company d’Amico International Shipping S.A., 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”).
About the vessel
The sale deal for a consideration of US$ 8.8 million is for the 38,877 dwt Handysize product tanker vessel, built in 2006 by Guangzhou Shipyard International, China.
Cash generated from the sale
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.
About DIS’ fleet
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.
d’Amico CEO’s comment
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 ships 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.”
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Source: d’Amico
