Photo credit: d´Amico
Italy´s d’Amico International Shipping owner in the product tanker sector through its subsidiary d’Amico Tankers has exercised its purchase option on the existing bareboat charter-in contract for the vessel High Loyalty.
The Milan-listed company said in a statement on Tuesday it is spending US$ 21.4 million on the 49,990 deadweight medium-range product tanker vessel High Loyalty, built in February 2015 by Hyundai Mipo in South Korea.
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.
Earlier this month Shipping Telegraph has reported that the company has also exercised through its subsidiary d’Amico Tankers its purchase option on the existing bareboat charter-in contract for the vessel “High Trader,” for a consideration of approximately US$ 21.6 million. The 49,990 deadweight medium-range product tanker is expected to be acquired by the company on around July 20th, 2023. The vessel was built in October 2015, by South Korean shipbuilding company Hyundai Mipo at their Vinashin shipyard in Vietnam, and the price might be slightly modified.
Currently DIS’ fleet comprises 36 double-hulled product tankers (MR, Handysize and LR1, of which 22 owned, 8 chartered-in and 6 bareboat chartered-in). The fleet has an average age of about 7.9 years.
Paolo d’Amico, Chairman and CEO of d’Amico International Shipping, said: “DIS continues implementing its deleveraging plan through the gradual exercise of the purchase options on its bareboat chartered-in vessels. 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.”