D’Amico and Glencore offload product tanker

Glenda International Shipping, a joint venture between d’Amico Tankers and Glencore, has sold 2010-built MR product tanker Glenda Meredith for $19m.

The sale will see the jv company generate around $18.8m in cash, having fully reimbursed the vessel’s loan in October 2019.

Paolo d’Amico, chairman and CEO of d’Amico International Shipping, commented: “I am very pleased to announce that Glenda International Shipping, our 50/50 jv with the Glencore Group, just sold this 2010-built MR vessel, generating a positive net cash effect of about $18.8m for this company, since we had already reimbursed the vessel’s bank loan back in October 2019. This deal, in addition to the one concluded at the end of last year for a similar vessel, is also perfectly in line with our long-term objective of controlling a very modern and young product tanker fleet.”

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
Back to top button