D’Amico offloads product tanker pair

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.”

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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