d’Amico declares purchase option on leased MR product tanker

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d’Amico International Shipping S.A announced that its operating subsidiary d’Amico Tankers, exercised its purchase option on the existing bareboat charter-in contract for the MT High Freedom, a 49,999 dwt medium-range product tanker vessel built in January 2014 by Hyundai Mipo, South Korea, for a consideration of about US$ 20.1 million. d’Amico Tankers expects to acquire ownership of the Vessel in April 2023.

As of today, DIS’ fleet comprises 36 double-hulled product tankers (MR, Handysize and LR1, of which 20 owned, 8 chartered-in and 8 bareboat chartered-in) with an average age of about 7.6 years for its owned and bareboat chartered-in vessels.

Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping, stated: “I’m glad to announce DIS’ exercise of a further purchase option on one of our bareboat vessels. Through this deal we acquire full ownership of MT High Freedom, a modern Eco-MR vessel built by a top-quality Korean yard in 2014, that we had sold and leased back in 2018 and that, at least for the time being, we intend to keep debt-free. This transaction allows us to continue reducing our financial leverage and breakeven, thereby increasing our strategic flexibility.”

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