d’Amico International Shipping, an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d’Amico Tankers D.A.C. exercised its purchase option under the existing bareboat charter-in contract for the MT Cielo di Houston, a 74,999 dwt LR1 product tanker vessel, built in January 2019 by Hyundai Mipo at their Vinashin facility in Vietnam, for a consideration of approximately US$ 26.5 million. d’Amico Tankers expects to take ownership of the Vessel in September 2025, with the purchase price subject to adjustment based on the exact date of delivery.
DIS’ fleet comprises 33 double-hulled product tankers with an average age of about 9.2 years for its owned and bareboat chartered-in vessels.
Carlos Balestra di Mottola, Chief Executive Officer of d’Amico International Shipping, stated:
“I am pleased to announce the exercise of our purchase option on the MT Cielo di Houston. We had sold and leased back this vessel in 2019 to a large Japanese financial institution through a JOLCO (Japanese Operating Lease with Call Option) deal. Thanks to today’s transaction, we have acquired full ownership of this modern and eco-friendly LR1 vessel, built in 2019. Additionally, we are likely to maintain this vessel debt-free initially, further reducing our financial leverage and breakeven costs. I would also like to extend my gratitude to our Japanese business partners for their continued support and cooperation, which contributed to this successful transaction.”
The post d’Amico announces the exercise of its purchase option on MT Cielo Di Houston appeared first on Shipping Herald.
