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Italy’s D’Amico Signs Sale, Leaseback Agreement For High Trader Ship

Italy’s d’Amico signs sale, leaseback agreement for High Trader ship

Italy’s D’Amico Signs Sale, Leaseback Agreement For High Trader ShipSource: Autorita’ di Sistema Portuale del Mar Ligure Occidentale

Genoa, Italy (PortSEurope) December 3, 2018 – Italian company d’Amico Tankers, a subsidiary of d’Amico International Shipping (DIS), has signed a $27 million (€23.8 million) agreement for the sale and leaseback of the High Trader vessel, with a deadweight capacity of 49,990 tonnes.

DIS has specified that this agreement allows d’Amico Tankers to generate $8.6 million (€7.6 million) of cash at the time of delivery of the ship, net of commissions and repayment of the pre-existing debt, thus contributing to the strengthening of the company’s liquidity position.

To date, the DIS fleet comprises 50.5 double-hull tankers with an average age of 7.1 years. DIS also has five ships under commercial management. d’Amico Tankers also has existing contracts with Hyundai Mipo Dockyard Co. for the construction of two new LR1 tankers with scheduled delivery in the first quarter of 2019.

Source: InforMare

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