Posted: over 3 years ago
“I am pleased to announce the exercise of our purchase option on one of d’Amico Tankers’ leased vessels, a transaction fully in line with our strategy of deleveraging DIS’ balance sheet and reducing its financial
break-even. In fact, the existing lease will be substituted with a bank-loan financing at a much lower leverage and at a substantially lower cost of debt,”
Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping, commented.
“We were able to take advantage of this opportunity thanks to the sound financial and liquidity position we have reached today, as the result of the strong freight markets of the first half of 2020, in addition to the proceeds derived from the sale of most of our oldest ships over the last few years.”