D’Amico Buys Product Tanker from Itself

Maritime Activity Reports, Inc.

March 10, 2016

Photo courtesy D’Amico

Photo courtesy D’Amico

D’Amico Tankers Limited (Ireland) will acquire the product tanker Cielo di Milano (launched in 2003 by Shina Shipbuilding shipyard (South Korea) from its Italy-based sister company d’Amico Shipping Italia for $14m.

“The purchase need arises from the characteristics of the features of this ship suited to a specific route in which it will be immediately engaged,” parent company d’Amico International Shipping said today. The tanker has been fixed on a timecharter, but no specific details have been disclosed.

Following this acquisition, d’Amico Tankers Limited as of today owns 50.8 product tankers, of which 40.8 are Medium Range (MR) and the remaining are ‘Handysize product tankers’; all the vessels of the fleet are double hulled, with an average age of 7.8 years and compliant with the most requiring international standards. More specifically, the fleet includes 27.3 owned vessels and 23.5 chartered-in vessels.

Marco Fiori, Chief Executive Officer of d’Amico International Shipping, commented, ”This purchase adds to our fleet a unit that we know very well, and that allows us to engage it on a specific trade route that meets perfectly with its technical features".

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