d’Amico uses option to buy MR tanker way below market value
Through this transaction, the company acquires a young and high-quality vessel at an attractive purchase price, around 30% lower than its current market value
d’Amico International Shipping S.A., an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d’Amico Tankers D.A.C., exercised its purchase option on the MT Crimson Pearl, a 50,000 dwt medium-range product tanker vessel built in August 2017 by Minaminippon Shipbuilding Co., Ltd., Japan, for a consideration of approximately US$ 31.0 million with delivery expected between September and October 2024.
As of today, DIS’ fleet comprises 33 double-hulled product tankers (MR, Handysize and LR1, of which 25 owned, 5 chartered-in and 3 bareboat chartered-in) with an average age of about 8.8 years for its owned and bareboat chartered-in vessels.
Carlos di Mottola, Chief Executive Officer of d’Amico International Shipping, stated:
“Following the acquisition of MT Crimson Jade at the end of June, I am now glad to announce the exercise of DIS’ purchase option on its sister ship, the MT Crimson Pearl, an Eco MR vessel built in 2017 by the same top-quality Japanese yard and time-chartered-in by d’Amico Tankers ever since. Through this transaction, we acquire a young and high-quality vessel at an attractive purchase price, around 30% lower than its current market value.”
