D’Amico International Shipping, via subsidiary d’Amico Tankers, has agreed the sale of 2005-built MR product tanker pair High Progress and High Performance for $12.95m each.
Delivery is scheduled to the unnamed buyer between the third and the fourth quarter of 2020, and will generate around $16.3m in total cash after commissions and reimbursement of the existing bank loans.
Paolo d’Amico, chairman and CEO of d’Amico International Shipping, commented: “I am pleased to announce the conclusion of this agreement for the sale of two of the oldest ships in our fleet (2005-built). Through this deal we continue to pursue our long-term strategy of controlling a very modern product tanker fleet. In addition, this agreement will generate around US$ 16.3 million in cash for DIS, further strengthening our liquidity and financial position.”