rss icon Subscribe
desktop mobile

Eco Tankers Sells MR Tanker

Image: DIS - d'Amico International Shipping

Laxman Pai

Eco Tankers has signed a memorandum of agreement for the sale of the MT High Sun, a 49,990 dwt MR product tanker vessel, built in 2014 by Hyundai MIPO, South Korea (Vinashin), for a consideration of US$ 28.7 million.

Eco Tankers is a joint venture company with Venice Shipping and Logistics S.p.A., in which d'Amico International Shipping (DIS) holds a 33% participation.

"This transaction will result in a profit on disposal and allows Eco Tankers to generate around US$ 12.8 million in cash, net of commissions and the reimbursement of the Vessel's existing loan," said a press release from DIS, the international marine transportation company operating in the product.

As of today, DIS' fleet comprises 49.5 double-hulled product tankers (MR, Handysize and LR1, of which 23 owned, 17.5 chartered-in and 9 bareboat chartered-in. DIS has also 1 vessel in commercial management) with an average age of about 6.1 years for its owned and bareboat vessels.

Currently, d'Amico Tankers has also a shipbuilding contract with Hyundai Mipo Dockyard Co. Ltd., for the construction of 1 LR1 (Long Range) product tanker expected to be delivered in 2019.

Paolo d'Amico, Chairman and Chief Executive Officer of d'Amico International Shipping, stated: "I am pleased to announce the conclusion of this deal, which will further improve DIS' liquidity position. In fact, the sale of MT High Sun will generate a profit on disposal and a very positive net cash effect, of approximately US$ 12.8 million, for Eco Tankers, our joint venture company with Venice Shipping and Logistics. The sale price confirms the market's improving fundamentals, with prices and time-charter rates for eco MR vessels on an upward trend over the last eighteen months"

Jun 3, 2019

 

Ship Sales

Navios Sells 2002-Built VLCC

Image: Navios Maritime Acquisition Corporation

Greek tanker vessel operator Navios Maritime Acquisition Corporation has entered into an agreement

Diamond S Shipping Sells Two Vessels

Pic: Diamond S Shipping

Connecticut-headquartered Diamond S Shipping Group Inc. (DSG) announced that it has agreed to sell

GIS Sells MR Product Tanker Vessel

Pic: d’Amico International Shipping

Glenda International Shipping (GIS) signed a memorandum of agreement for the sale of MT Glenda

Vessels

HMD Builds 2 Methanol-Fueled Tankers

Pic: Methanol Institute

Two new dual-fueled tankers capable of operation using clean-burning Methanol, Mari Couva and Mari

Navios Sells 2002-Built VLCC

Greek tanker vessel operator Navios Maritime Acquisition Corporation has entered into an agreement to sell the Nave Electron, a 2002-built  very large crude carriers (VLCC)

Scotline Orders Third Newbuild

Image: Scotline Marine Holdings

U.K based shipping company Scotline Marine Holdings announced that it has  ordered a third

Maritime Apps