d’Amico Tankers disposes of its oldest two MR vessels

Posted On: 09-07-2020

d’Amico Tankers D.A.C. (Ireland), part of Italian marine transportation company d’Amico International Shipping (DIS), has signed a memorandum of agreement for the sale of the company’s oldest two MR vessels. The 51,303 dwt product tankers in question are MT High Progress and MT High Performance, built by STX in South Korea in 2005. The ships will be sold for $12.95 million per unit. As explained, the transaction allows d’Amico Tankers to generate at the delivery of the two vessels — expected to occur between the third and the fourth quarter of 2020 — around $16.3 million in total cash, net of commissions and reimbursement of the vessels’ existing bank loans. “I am pleased to announce the conclusion of this agreement for the sale of two of the oldest ships in our fleet (2005-built). Through this deal, we continue to pursue our long-term strategy of controlling a very modern product tanker fleet,” Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping, commented.

(Credits: www.offshore-energy.biz)