d'Amico International Shipping sells its two oldest tankers for $36.3m

Tanker operator d’Amico International Shipping, through its subsidiary d'Amico Tankers, has signed agreements to sell two of its oldest vessels. The MR product tankers Glenda Melody and Glenda Melissa were sold for a total consideration of $36.3 million.

The two 47,200-dwt tankers were built in 2011 by Hyundai Mipo in South Korea. Delivery to their new, unnamed buyers is scheduled before the end of July and by December 21, 2025, respectively. The company stated the transactions will generate approximately $31 million in cash after commissions and the reimbursement of outstanding bank debt.

Carlos di Mottola, Chief Executive Officer of d’Amico International Shipping, said the sale is in line with the company's long-term strategy of operating, "a modern and eco-friendly fleet". He added that the company believes a more efficient fleet will be beneficial as it confronts, "a more stringent regulatory environment".

Following the sale, d’Amico International Shipping’s fleet will comprise 32 double-hulled product tankers. The fleet, which includes MR, Handysize, and LR1 vessels, consists of 29 owned ships and three bareboat chartered-in vessels, with an average age of about 9.5 years.