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d'Amico International Shipping S.A.
Regulatory Filings • Mar 11, 2024
9964_iss_2024-03-11_170e8a9b-fe7f-4334-a6e8-375fcd274abc.pdf
Regulatory Filings
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PRESS RELEASE
d'AMICO INTERNATIONAL SHIPPING S.A. ANNOUNCES THE SALE OF THE MT GLENDA MELANIE, THE OLDEST VESSEL OF ITS OWNED AND BAREBOAT-CHARTERED-IN FLEET
Luxembourg – March 11th , 2024 – d'Amico International Shipping S.A. (Borsa Italiana: DIS.IM and OTCQX Best Market: DMCOF) (the "Company" or "DIS"), an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d'Amico Tankers D.A.C. (Ireland) ("d'Amico Tankers"), signed a memorandum of agreement for the sale of the MT Glenda Melanie (the "Vessel"), a 47,162 dwt MR product tanker vessel, built in 2010 by Hyundai Mipo, South Korea, for a consideration of US\$ 27.4 million.
This transaction allows d'Amico Tankers to sell the oldest vessel of its owned and bareboat chartered-in fleet. In addition, the Company will generate at the delivery of the vessel around US\$ 20.5 million in cash, net of commissions and the reimbursement of the Vessel's existing bank loan.
As of today, DIS' fleet comprises 35 double-hulled product tankers (MR, Handysize and LR1, of which 26 owned, 6 chartered-in and 3 bareboat chartered-in) with an average age of about 8.5 years for its owned and bareboat chartered-in vessels.
Paolo d'Amico, Chairman and Chief Executive Officer of d'Amico International Shipping, stated: "I'm pleased to announce the sale of the MT Glenda Melanie, a 2010-built MR vessel and the oldest ship in our fleet. This deal is fully in line with our Company's long-term strategy of owning and operating a fleet of modern and 'Eco' product tanker vessels, reducing DIS' environmental footprint while enhancing its commercial competitiveness and earnings potential."
From today this press release is available on the investor relations section of DIS' website, filed with the CSSF, disclosed through the e-market SDIR circuit, and stored at Borsa Italiana S.p.A. through the emarketSTORAGE system and at Société de la Bourse de Luxembourg S.A. in its quality of OAM.
d'Amico International Shipping S.A. is a subsidiary of d'Amico Società di Navigazione S.p.A., one of the world's leading privately-o wn ed marine transportation companies, and operates in the product tankers sector, comprising vessels that typically carry refined petroleum products, chemical and vegetable oils. d'Amico International Shipping S.A. controls, through its fully-owned subsidiary, d'Amico Tankers D.A.C., Dublin, either through ownership or charter arrangements, a modern and double-hulled fleet, ranging from 35,000 to 75,000 deadweight tons. The Company has a long history of family enterprise and a worldwide presence with offices in key maritime centers (London, Dublin, Monaco, Stamford and Singapore). The Company's shares are listed on the Milan Stock Exchange under the ticker symbol "DIS.MI" and are traded also on the OTCQX Best Market in the US, under the ticker symbol "OTCQX: DMCOF".
Anna Franchin, Investor Relations Manager Tel: +35 2 2626292901 Tel: +37 7 93105472 E-mail: [email protected]
Capital Link New York - Tel. +1 (212) 661-7566 London - Tel. +44 (0) 20 7614-2950 E-Mail: [email protected]
Media Relations Havas PR Milan Marco Fusco Tel.: +39 02 85457029 – Mob.: +39 345.6538145 E-Mail: marc[email protected] Antonio Buozzi Tel.: +39 320.0624418 E-Mail: [email protected]