d’Amico Tankers Inks Sale, Leaseback for MR Ship

Image Courtesy: d'Amico International Shipping

Italy-based shipping company d’Amico International Shipping (DIS) revealed that its subsidiary d’Amico Tankers entered into a sale and leaseback deal for its 49,990 dwt medium-range product tanker vessel MT High Fidelity.

Under the memorandum of agreement and bareboat charter contract, the tanker, built in 2014 by Vietnam’s Hyundai-Vinashin Shipyard, would be sold for a consideration of USD 27 million.

d’Amico Tankers informed that, through this transaction, the company would generate around USD 11.2 million in cash, net of commissions and reimbursement of the vessel’s existing loan, contributing to the liquidity required to complete DIS’ fleet renewal program and allowing the company to benefit from the anticipated market recovery.

In addition, through this transaction d’Amico Tankers will maintain full control of the vessel, since a 10-year bareboat charter agreement was also concluded with the buyer, with a purchase obligation at the end of the charter period.

Furthermore, d’Amico Tankers has the option to repurchase the Vessel, starting from the third anniversary of her sale at a competitive cost of funds.

As of today, DIS’ fleet comprises 53.8 double-hulled product tankers, MR and Handysize, with an average age of about 7.8 years.

Currently, d’Amico Tankers has also shipbuilding contracts with Hyundai Mipo Dockyard Co. Ltd., for the construction of 6 LR1 product tankers with expected delivery between the fourth quarter of 2017 and 2018.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >