D’Amico International Shipping will no longer invest in any newbuildings or secondhand ships for the near future.
Giovanni Barberis, cfo of the Italian shipping company, told Splash: “Now it’s time to consolidate… We have no more investments in the pipeline.”
The company has 16 product tankers on order still.
Barberis was speaking yesterday at the firm’s third quarter results where it was revealed the company had notched up a net profit of $44.8m in the first nine months.
