d'Amico International Shipping reported a net profit of $79.4 million for the first six months of 2026, compared with $38.5 million in the corresponding period of 2025.
Second-quarter net profit increased to $51.9 million from $19.6 million a year earlier, supported by stronger freight rates and market conditions in the product tanker sector.
Total net revenue for the first half reached $157.4 million, up from $132.2 million in the first six months of 2025, while earnings before interest, taxes, depreciation and amortisation increased to $105.8 million from $73.4 million.
Operating cash flow for the six-month period totalled $87.2 million, enabling the company to move from a net debt position of $27.4 million at the end of 2025 to a net cash position of $19.2 million as of June 30.
The company reported a daily spot rate of $44,247 during the first half of 2026, compared with $22,655 in the previous year. Second-quarter daily spot earnings averaged $57,547. Fixed-rate time charter contracts covered 63.7 per cent of available vessel days at an average daily rate of $23,646, resulting in a combined fleet average of $31,125 per day.
During the period, DIS completed the sale of the 2012-built product tanker High Seas for $27.6 million, with the vessel delivered to its buyers on April 24. In May, the company also agreed to sell the 2012-built High Tide for $28.5 million. According to the company, delivery to the new owners is expected by November 2026.
The company also advanced its fleet renewal programme by ordering four MR2 product tankers of 50,000 DWT from Jiangsu New Yangzi Shipbuilding at a contract price of $45.4 million per vessel. The vessels are expected to be delivered to subsidiary d'Amico Tankers between August and October 2029.
The order follows an earlier contract for two MR1 product tankers at Guangzhou Shipyard International, also scheduled for delivery in 2029.
As of June 30, DIS controlled a fleet of 28 product tankers, comprising 26 owned vessels and two bareboat chartered-in vessels with purchase obligations.