D’Amico International Shipping has sold two medium range product tankers, High Endurance and High Endeavour, to Sea World Management for a price of $13.5 million each.
D’Amico will continue to operate the 2004-built vessels, having also signed a 4-year time charter agreement at what it says is an attractive rate.
Marco Fiori, CEO of d’Amico International Shipping, commented: “The sale of these two vessels agreed with a known counterparty, is perfectly in line with DIS’ long-term strategy of maintaining a very young owned fleet, by gradually substituting our oldest vessels with the newbuildings we have been ordering in the last four years. At the same time, we will keep the commercial management of these two vessels for four additional years, through a time charter In contract made at an attractive rate, which might give us a good potential upside in a growing product tanker market.”
Fiori also said that the deal will generate a ‘profit on disposal’ of around $2 million.
