d’Amico: Sale of Product Tanker

d'Amico

d’Amico International Shipping S.A., an international marine transportation company operating in the product tanker market, announced that GLENDA International Shipping d.a.c.(GIS), a joint venture company with the Glencore Group, in which d’Amico Tankers d.a.c. (Ireland) (“d’Amico Tankers”) holds a 50% participation, signed a memorandum of agreement for the sale of MT GLENDA Megan, a 47,147 dwt MR product tanker vessel, built in 2009 by Hyundai Mipo, South Korea, for a consideration of US$ 19.0 million.

This transaction allows GLENDA International Shipping to generate around US$ 8.1 million in cash, net of commissions and the reimbursement of the Vessel’s existing loan.

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