‘Very profitable’: d’Amico International Shipping inks three-year handy charter deal

Milan stock exchange-listed d’Amico International Shipping (DIS) operating in the product tanker market has clinched a new long-term time charter deal.

The product tanker specialist said its operating subsidiary, d’Amico Tankers has signed a new three-year deal for one of its handy eco-vessels.

The company didn’t disclose the rate, but clarified that a reputable counterparty had taken the ship at a “very profitable daily hire.”

The employment of the vessel starts in the third quarter of 2024 and the deal reflects the company’s market’s strong long-term fundamentals, as it is said by DIS.

Carlos di Mottola, chief executive officer of d’Amico International Shipping, said: “I am glad to announce the conclusion of this long-term charter contract with a well-known and reputable counterparty.

“The very profitable hire we were able to achieve on this contract reflects our market’s strong long-term fundamentals.”

The Milan-listed company, after the conclusion of this time charter deal, will have 33% of its available vessel days fixed at a time charter equivalent (TCE) rate of around $27,590 per day in the second half of the year 2024.

DIS also estimates about its contract coverage that in the financial year 2025 will have 15% of its available vessel days fixed at a TCE rate of approximately $24,370 per day.

Meanwhile, in the financial year 2026, will have 9% of its available vessel days fixed at a TCE rate of around $22,615 per day.