EuropeTankers

d’Amico exercises product tanker purchase option

Photo of Sam Chambers Sam ChambersJanuary 24, 2023
425 Less than a minute
d’Amico International Shipping

Italy’s d’Amico International Shipping has exercised a purchase option on the High Explorer, a 50,000 dwt MR product tanker vessel built in May 2018 by Onomichi Dockyard, paying $30m for the ship, which will deliver in May.

The Italian owner now has 36 product tankers in its fleet. The company bought the High Explorer’s sister ship, High Adventurer four months ago.

Paolo d’Amico, chairman and CEO of d’Amico International Shipping, claimed the latest acquisition came in at a price which is about 27% lower than its current market value.

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Photo of Sam Chambers Sam ChambersJanuary 24, 2023
425 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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