d’Amico International Shipping S.A. Announces The Conclusion Of A New 3-Year Time Charter Contract At A Very Profitable Rate For One Of Its Eco MR2 Vessels

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. Following the conclusion of this time-charter agreements, DIS has the following estimated forward contract coverage:

– H2 2024: 36% of DIS’ available vessel days fixed at a TCE rate of approximately US$ 27,472/day
– FY 2025: 18% of DIS’ available vessel days fixed at a TCE rate of approximately US$ 24,658/day
– FY 2026: 12% of DIS’ available vessel days fixed at a TCE rate of approximately US$ 23,560/day

Carlos di Mottola, Chief Executive Officer of d’Amico International Shipping, stated: “I am glad to announce the conclusion of this additional three-year time-charter-out contract with a renowned and trustworthy counterparty. 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.”

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.
Source: d’Amico International Shipping S.A.