D’Amico International Shipping sells its oldest tanker

Italian owner d’Amico International Shipping has signed, through its Irish operating subsidiary d’Amico Tankers, an agreement for the sale of tanker Cielo di Guangzhou.

The price for the 2006-built handysize product tanker is $8.8m, and the buyer was not disclosed.

Paolo d’Amico, chairman and ceo of d’Amico International Shipping, stated: “I am glad to announce the conclusion of this sale transaction, which will further strengthen our liquidity position through a net cash generation of approximately $8.8m. In addition, the MT Cielo di Guangzhou was one of the oldest ship in our fleet, built in 2006, and through this deal we continue to pursue our long-term objective of controlling a young and efficient product tanker fleet”.

Recently, d’Amico spoke with Maritime CEO about the increasing difficulties the company was having offloading its older ships due to the restrictions introduced to limit the coronavirus outbreak.

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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