d’Amico International Shipping SA announces the sale of one of its oldest vessels Mr, generating net cash of approximately $8.9 million
d’Amico International Shipping SA, an international shipping company operating in the tanker market, announces that its subsidiary of Amico Tankers DAC (Ireland) (“d’Amico Tankers”), has signed a memorandum of understanding for the sale of the MT High Courage (the “Vessel”), a 46,975 dwt MR product tanker, built in 2005 by STX, South Korea, for US$12.65 million.
This transaction allows d’Amico Tankers to generate upon delivery of the vessel (expected between November 2020 and January 2021) approximately US$8.9 million in cash, net of commissions and repayment of the vessel’s existing bank loan. To date, the DIS fleet comprises 42 double-hull tankers (MR, Handysize and LR1, of which 22 are owned, 11 are chartered and 9 are bareboat chartered) with an average age of approximately 6.95 years for its vessels owned and bareboat. chartered ships.
Paolo d’Amico, Chairman and CEO of d’Amico International Shipping, said: “I am pleased to announce the signing of the Memorandum of Understanding for the sale of the MT High Courage, an MR vessel built in 2005 and the one of the oldest ships in our fleet. As we have stated many times in the past, we intend to position our company as the owner and operator of a very modern tanker fleet. In addition, this agreement will generate approximately $8.9 million of cash for DIS, which will further reduce our balance sheet and significantly increase our cash position. We are convinced that a solid financial structure is essential to succeed in this long-term business. As of today, this press release is available on the investor relations section of the DIS website, filed with the CSSF, disclosed via the SDIR e-market circuit and stored at Borsa Italiana SpA via the emarketSTORAGE system and the Société de la Bourse de Luxembourg SA in its capacity as OAM.
Source: d’Amico International Shipping SA