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d'Amico announces the sale of Handysize vessel M/T Cielo di Salerno for US$ 13,000,000

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 Limited (Ireland) sold the m/t Cielo di Salerno, a dwt 36,032 handysize product tanker of vessel, built in 2002 by STX, South Korea (the “Vessel”), in favour of SW Cap Ferrat Shipping LLC (Marshall Island),for a consideration of US$ 13,000,000.

d’Amico Tankers will maintain the commercial employment of the Vessel having also concluded with the Buyer a 3 years time charter agreement at attractive rate. This allows to keep the optimal level of the fleet. d’Amico Tankers Limited owned fleet includes n. of 50.8 double-hulled tankers (MR and Handysize product tankers) with an average age of about 7.8 years (of which 25.3 owned vessels and 25.5 chartered-in vessels).

d’Amico Tankers Limited has also a total of 12 newbuilding product tanker shipbuilding contracts, which include 3 MR, 3 Handysize and 6 LR1 vessels, with Hyundai Mipo Dockyard Co. Ltd.

Marco Fiori, Chief Executive Officer of d’Amico International Shipping, stated: ”The sale of the Handysize vessel Cielo di Salerno reaffirms our skills also in the Sale and Purchase market since it is done in a firming market allowing us to maximize its proceeds. As we have been mentioning in the past the Sales and Purchase activity it is a very important share of the shipping market and mastering it allows us to have an hedge compared to our competitors. In this case we also managed to maintain the commercial control of the Vessel for her remaining useful life.”

Source: d'Amico International Shipping

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