d’ Amico International Shipping S.A., an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d’ Amico Tankers D.A.C. (Ireland) signed a memorandum of agreement for the sale of MT High Presence , a 48,700 dwt medium - range product tanker vessel, built in 2005 by Imabari Shipbuilding Co. Ltd. (Japan) for a consideration of US$ 14.14 million.
This transaction will generate at delivery of the Vessel a positive cash effect , net of the reimbursement of the Vessel’s existing bank loan, of around US$ 7.2 million for d’Amico Tankers, contributing to the liquidity required to complete DIS’ fleet renewal program. In additi on, d’Amico Tankers will retain the commercial control of the Vessel, having also concluded with the Buyer a 6 - year time - charter agreement at a competitive rate.
As of today, d’Amico International Shipping ’s fleet comprises 56.5 double - hulled product tankers ( LR1, MR and Handysize) with an average age of about 7.7 years (of which 28 owned vessels , 2 5 .5 chartered - in vessels and 3 bareboat chartered - in vessels ). Currently, d’Amico Tankers has also shipbuilding contracts with Hyundai Mipo Dockyard Co. Ltd., for the construction of 5 LR1s (Long Range) product tankers with expected delivery between 2017 and 2018.