Fratelli d’Amato to exit liquid bulk with tanker sale to International Marine Services

The Naples-based Fratelli D’Amato shipping group is en route to exit the liquid bulk market as a consequence of the restructuring plan under negotiation with the Italian banks Unicredit and MPS among others. This week several broker sources report that the Luigi d’Amato chaired company is selling its last tanker, the 2002-built FD Sea Wish for some $7.5m to Greek buyers.

Splash understands that final negotiations are still ongoing but the buyer will be the Piraeus-based International Marine Services linked to the Greek owner George Gialozoglou.

Linked to the sale of the ship there will be also the leasing contract with the Italian bank Unicredit and the related option to purchase the vessel in the coming years.

Once the FD Sea Wish leaves the fleet for which it has been working for 15 years, Fratelli D’Amato will remain with no tankers under management. It will be left with just five PSVs.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.
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