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D’Amico Improves Its Results Relative To The Previous Quarter And Maintains A Solid Financial Structure Despite A Challenging Market
The Board of Directors of d’Amico International Shipping S.A., a leading international marine transportation company operating in the product tanker market, today examined and approved the Company’s half-year and second quarter 2021 consolidated financial results.
MANAGEMENT COMMENTARY
Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping commented:
‘In the first six months of 2021 we confronted a challenging product tanker market and this explains DIS’ Net loss of US$ (15.2) million in the period and the variance relative to the first half of last year (profit of US$ 17.1 million). However, we were able to significantly improve our results in Q2 relative to the previous quarter of the year, mainly thanks to a sound chartering strategy, which consisted both of a good level of time-charter coverage and favourable positioning of our spot trading vessels. In fact, DIS’ Net result was of US$ (5.4) million in Q2 2021, compared with US$ (9.8) million in the first quarter of the year.