d’Amico Tankers Inks Sale, Leaseback Deal for MR Vessel

Tanker owner and operator d’Amico Tankers has signed a memorandum of agreement and bareboat charter contract for the sale and leaseback of one of its medium-range product tanker vessel for a consideration of USD 28 million.

The deal, reached with an undisclosed Japanese company, is related to the 49,990 dwt MT High Discovery, built in 2014 by South Korea’s shipbuilder Hyundai-Mipo.

d’Amico Tankers said that the transaction would generate around USD 10.7 million in cash for the company, net of commissions and reimbursement of the vessel’s existing loan, contribute to the liquidity required to complete DIS’ fleet renewal program and allow the company to benefit from the anticipated market recovery.

Additionally, 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 tenth year of the charter period. The company has the option to repurchase the tanker starting from the third anniversary of its sale at a competitive cost of funds.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2019 >>
MTWTFSS
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 1 2 3 4

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

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 >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

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

read more >