Milan-listed d’Amico International Shipping S.A. (DIS), through its operating subsidiary d’Amico Tankers d.a.c. (Ireland), has exercised its purchase option under the existing bareboat charter-in contract for the 50,000-dwt medium-range product tanker High Fidelity, built in August 2014 by Hyundai Vinashin Shipyard in Vietnam, for a consideration of approximately US$14m.

The shipowner said the product tanker High Fidelity is its last bareboat chartered-in vessel.

The company, which embarked on a purchasing spree earlier this year, expects to acquire ownership of the vessel around mid-January 2027.

d’Amico said the purchase price may be slightly adjusted to reflect the actual delivery date.

Currently, DIS’ fleet comprises of 28 double-hulled product tankers on the water (16 MRs, 6 handysize and 6 LR1, of which 26 are owned and 2 are bareboat chartered-in), with an average age of approximately 10 years, plus 10 vessels ordered at shipyards, with deliveries in 2027 (4 LR1s) and 2029 (2 handysize and 4 MRs). 

Carlos di Mottola, chief executive officer of d’Amico International Shipping, stated: “Following the exercise of our purchase option on the MT High Discovery at the beginning of August, I am pleased to announce the exercise of the purchase option on our last remaining bareboat chartered in vessel, the MT High Fidelity, a modern Eco-MR vessel built in 2014 by a leading shipyard, following its sale and leaseback in 2022.

“Upon delivery of this vessel, expected in mid-January 2027, DIS will operate a fully owned fleet of modern product tankers, all built in top-quality yards. In addition, through this transaction DIS will repay in full its remaining lease liability, further reducing the company’s financial leverage.”

d’Amico International Shipping S.A. controls, through its fully-owned subsidiary d’Amico Tankers d.a.c., Dublin, either through ownership or charter arrangements, a fleet ranging from 35,000 to 75,000 deadweight tons.

The company has a worldwide presence with offices in key maritime centers such as London, Dublin, Monaco, New York and Singapore.