(Alliance News) - d'Amico International Shipping SA announced on Wednesday that its operating subsidiary d'Amico Tankers DAC has exercised its purchase option under the bareboat charter contract related to the MT High Trader, a 49,990-ton MR of 49,990 deadweight tonnage built in October 2015 by Hyundai-Mipo, South Korea, at their Vinashin shipyard in Vietnam, for approximately USD21.6 million.

It is expected that d'Amico Tankers will acquire full ownership of the vessel around July 20, and the final purchase price may vary slightly depending on the exact date of the vessel's actual delivery.

To date, DIS's fleet includes 36 double-hulled tankers, with an average age relative to owned and chartered bareboat vessels of about 7.9 years.

Paolo d'Amico, president and chief executive officer of d'Amico International Shipping, said, "I am pleased to announce the exercise of an additional purchase option on DIS's bareboat charter vessels. This time, DIS will acquire full ownership of the MT High Trader, a modern and Eco MR, which was built in late 2015 by a renowned shipyard and which we had sold and leased back in 2018. In addition, this transaction, like the other similar transactions completed recently, allows DIS to significantly reduce its leverage and breakeven. As with the other bareboat charter vessels we have recently acquired, we will, at least for the time being, leave this vessel debt-free."

The stock of d'Amico International Shipping is down 0.9 percent at EUR0.38 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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