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D'Amico Tankers completes product tanker sale and leaseback deal

D'Amico Tankers completes product tanker sale and leaseback deal
Luxembourg based d'Amico International Shipping, part of the Italy's d'Amico Societa di Navigazione Group, has announced that its Irish operating subsidiary d'Amico Tankers has signed a memorandum of agreement for the sale of High Prosperity for $14.2m.

The vessel is a 48,700 dwt medium-range product tanker bulk in 2006 by Japanese shipbuilder Imabari Shipbuilding.

D'Amico Tankers will retain the commercial control of the vessel having also concluded with undisclosed buyer a 6 year time charter agreement.

The transaction will generate a positive net cash effect of around $6.9m for d'Amico Tankers, contributing to the liquidity required to complete d'Amico International Shipping's fleet renewal program.

Marco Fiori, CEO of d'Amico International Shipping, said: ''The sale of MT High Prosperity is in line with d'Amico International Shipping's long term strategy of maintaining a young owned fleet, through the replacement of some of our older vessels with the nexbuildings we have ordered in the recent years.''

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