$27.4m Sale of D'amico's Oldest Tanker

The Italian shipping company d'Amico International Shipping has finalized the sale of its MR product tanker, the Glenda Melanie, which has a deadweight of 47,162 tons, for $27.4 million.

Constructed in 2010 by Hyundai Mipo Dockyard in South Korea, this tanker is the most senior member of the fleet managed and chartered by d'Amico Tankers. The transaction will result in a net cash inflow of approximately $20.5 million for d’Amico International Shipping, after accounting for commissions and settling the existing bank loan on the vessel.

Currently, d'Amico International Shipping operates a fleet of 35 double-hulled product tankers, including MR, handysize, and LR1 categories, with 26 of these being owned, six chartered, and three on bareboat charter. The average age of the owned and bareboat chartered vessels is roughly 8.5 years.

Paolo d'Amico, the chairman and CEO of d’Amico International Shipping, stated, “This deal is fully in line with our company’s long-term strategy of owning and operating a fleet of modern and Eco product tanker vessels, reducing the company’s environmental footprint while enhancing its commercial competitiveness and earnings potential.”