MaritimeNews ® 18-Jun-2019 08:15
Illustration. Source: Pixabay under CC0 Creative Commons license
Italian tanker owner d’Amico International Shipping and its joint venture partner Mitsubishi Group have signed a memorandum of agreement for the sale of the 46,547 dwt tanker High Efficiency.
The deal would see the parties’ JV company DM Shipping d.a.c.(DMS) dispose of the 2009-built tanker for a consideration of USD 16.1 million.
The transaction would allow DM Shipping to generate around USD 13.2 million in cash, net of commissions and reimbursement of the vessel’s existing loan.
“Through this deal DIS’ strengthened its liquidity position and disposed of one of its older vessels, built in 2009, in line with our objective of controlling a very young and modern fleet,” Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping, said.
In February 2019, the DM Shipping partners reached a deal to sell the 46,800 dwt MT High Strength for a consideration of USD 16.4 million. The earlier transaction resulted in a positive net cash effect of around USD 12.3 million for d’amico’s 51/49 JV with the Mitsubishi Group.
As of today, DIS’ fleet comprises 49.5 double-hulled product tankers, of which 23 owned, 17.5 chartered-in and 9 bareboat chartered-in.
Heads necessary to send messages to enable JavaScript

Similar topics

d’Amico Joint Venture Agrees to Sell MR Tanker
d’Amico Joint Venture Sells MR Product Tanker
d’Amico Sheds Its Oldest Product Tanker
d’Amico, Glencore Joint Venture to Sell MR Tanker
d’Amico Reaches Deal to Sell MR Tanker
d’Amico Tankers Sheds Another Product Tanker
d’Amico Inks Sale and Leaseback for MR Tanker
DIS Bags Another Sale and Leaseback Deal for MR Tanker
d’Amico Tankers Inks Sale, Leaseback for MR Ship
d’Amico Agrees Sale, Leaseback for MR Tanker
  • Reply

The time now is: Today 10:18

All times are GMT + 3 Hours