Italian product tanker owner and operator 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. (Ireland) (“d’Amico Tankers”), signed a new three-year time charter agreement for one of its MR2 Eco vessels, starting between the end of Q2 2024 and the beginning of Q3 2024, with a reputable counterparty at very profitable daily hire.
D’Amico said the deal includes a “very profitable daily charter rate” and that following the time charter, the company will have 36% forward contract coverage of available vessel days in the second half of 2024, amounting to approximately $27,472 per day. The company also has 18% and 12% of available vessel days fixed at approximately $24,658 and $23,560 per day in fiscal years 2025 and 2026, respectively.
“Thanks to the recent time-charter deals we announced, we have secured a significant percentage of our forward earnings at highly profitable levels. We firmly believe in the positive prospects of our industry, and the high rates we achieved on these recently signed long-term contracts are a clear indication of this strong market outlook,” said Carlos di Mottola, CEO of DIS.
Last month, D’Amico Tankers also returned to New Yangzi Shipbuilding, a subsidiary of Yangzijiang Shipbuilding Group, to order two 75,000 dwt LR1 product tankers, with a cost of $56.2 million each, which are expected to be delivered in July and December 2027.
