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Sold by D‘Amico Tankers for 28 Mio. $ to Japanese buyers
D’Amico Int'l Shipping announces the sale and lease back of an MR product tanker
D’Amico International Shipping S.A. (the “Company”or “DIS”), an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d’Amico Tankers D.A.C. (Ireland) (“d’Amico Tankers”) signed a Memorandum of Agreement and bareboat charter contract for the sale and leaseback of the MT High Freedom, a 49,990 dwt medium-range product tanker vessel, built in 2014 by Hyundai-Mipo, South Korea (the “Vessel”) for a consideration of US$ 28.0 million, DIS said Wednesday in a media release. This transaction allows d’Amico Tankers to generate around US$ 13.4 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.
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