D’Amico International Shipping S.A. (Borsa Italiana: DIS) (the“Company” or “DIS”), 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 Loyalty (“the Vessel”) for a consideration of approximately US$ 21.4 million, says an article published on their website.
Bareboat chartered-in vessels
D’Amico Tankers expects to acquire ownership of the Vessel at the end of June 2023 and the purchase price might be slightly modified to reflect the exact date of delivery.
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.
Two purchase options
Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping, stated: “DIS continues implementing its deleveraging plan through the gradual exercise of the purchase options on its bareboat chartered-in vessels. Today, thanks to this transaction, we acquire full ownership of MT High Loyalty, a modern Eco-MR vessel built in 2015 by one of the most reputable Korean yards, which we had sold and leased back in 2018. As for the other two purchase options we have exercised in the last few
months, we will keep this vessel debt-free at least for the time being, to further reduce our financial leverage and breakeven.”
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Source: Damico international shipping
