d’Amico Tankers Inks Sale, Leaseback for MR Ship

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>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 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

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >