D’Amico and Mitsubishi sell ten-year old MR tanker

D’amico International Shipping has announced the sale for $16.1m of High Efficiency, a 46,547 dwt MR product tanker built in 2009 by Nakai Zosen shipyard. The sale generated a net cash of approximately $13.2m for the joint venture between the Italian company (51%) and Mitsubishi Group (49%).

Paolo d’Amico, CEO and chairman of d’Amico International Shipping, stated: “Following the sale of High Strength earlier this year, I am glad to announce this second vessel disposal for DM shipping, which will generate a positive net cash effect of approximately $13.2m for our 51/49 JV with the Mitsubishi Group. Through this deal DIS’ strengthened its liquidity position and disposed of one of its older vessels, built in 2009, in line with our objective of controlling a very young and modern fleet”.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.
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