d’Amico International Shipping (DIS) has announced that its Irish operating arm, d’Amico Tankers, had taken up the option to buy High Fidelity, a 50,000 DWT product tanker in the medium-range (MR) class, for about $14 million.
The vessel’s current bareboat charter-in agreement included the right to buy it.
Ownership is expected to pass to d’Amico Tankers around mid-January 2027, with the purchase price subject to a slight adjustment to reflect the actual delivery date.
The company said the acquisition of High Fidelity, its final bareboat-chartered-in vessel, would leave its product-tanker fleet entirely owned following delivery.
“In addition, through this transaction DIS will repay in full its remaining lease liability, further reducing the company’s financial leverage,” said Carlos di Mottola, chief executive officer of d’Amico International Shipping.
High Fidelity was built in August 2014 by Hyundai Vinashin Shipyard in Vietnam. The vessel was subject to a sale-and-leaseback transaction in 2022.
According to d’Amico’s October announcement, its fleet consisted of 28 product tankers with double hulls: 16 MRs, six Handysize vessels and six LR1 tankers. The fleet’s average age was about 10 years; 26 vessels are owned and two are bareboat-chartered-in.
The company’s 10-vessel orderbook comprises four LR1s scheduled for delivery in 2027, alongside two Handysize tankers and four MRs due in 2029.
