d’Amico International Shipping has executed the purchase option for the MR tanker High Fidelity at a cost of $14 million, moving towards full ownership of its fleet.
Transfer Date and Tanker Details
This tanker, built in 2014 and with a deadweight tonnage (dwt) of 50,000 tons, will officially be delivered to d’Amico Tankers around mid-January 2027. The final price of this transfer may be subject to slight changes depending on the actual transfer date.
Read more: Iran's oil exports have reached zero, increase in Gulf countries' exports
Return to Full Ownership
The tanker High Fidelity is one of the last two vessels in the d’Amico fleet that still operates under leasing agreements. Currently, the company has control over 28 product tankers, including 16 MR tankers, 6 Handy Size tankers, and 6 LR1 tankers, of which 26 are fully owned by d’Amico and only two are under lease.
This move follows d’Amico's decision in August to execute the $15.3 million purchase option for the sister tanker High Discovery, which is expected to return to full ownership of the company in November. With the completion of these two transfers, d’Amico will have no remaining vessels under lease agreements.
Both tankers were re-financed in 2022 through sale and leaseback structures. At that time, d’Amico executed previous purchase options for High Discovery and High Fidelity for $20.3 million and $19.2 million respectively, and then re-leased them under new 10-year leases with new purchase options.
Carlos Di Motola, CEO of d’Amico, stated that this move will allow the group to pay off its remaining lease debts. Additionally, d’Amico currently has 10 new ships under construction, including four LR1 tankers scheduled for delivery in 2027 and six smaller tankers, including two Handy Size tankers and four MR tankers for 2029.
Read more: The Synergy tanker shipment is headed to China amid sanctions · Seaspan Corporation enters the Newcastlemax tanker sector
