D’Amico buys product tanker from itself

D’Amico buys product tanker from itself

D’Amico Tankers Limited (Ireland) has agreed to acquire the product tanker Cielo di Milano (40,081 dwt, built 2003) from its Italy-based sister company d’Amico Shipping Italia for $14m.

“The purchase need arises from the characteristics of the features of this ship suited to a specific route in which it will be immediately engaged,” parent company d’Amico International Shipping said today. The tanker has been fixed on a timecharter, but no specific details have been disclosed.

“This purchase adds to our fleet a unit that we know very well, and that allows us to engage it on a specific trade route that meets perfectly with its technical features,” Marco Fiori, CEO of d’Amico International Shipping, said in a release.

The consideration was determined according to the tanker’s market value estimated by a “specialised independent company” and approved internally, d’Amico said.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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