D’Amico sells tanker pair to Sea World Management, charters back

D’Amico sells tanker pair to Sea World Management, charters back

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.

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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