d’Amico International Shipping S.A. announces the sale of one of its oldest mr vessels, generating net cash of approximately US$ 8.0 million

Luxembourg - November 09th, 2021

d’Amico International Shipping S.A. (Borsa Italiana: DIS) (the “Company”or “DIS”), an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d’Amico Tankers D.A.C. (Ireland) (“d’Amico Tankers”), signed a memorandum of agreement for the sale of the MT High Venture (the “Vessel”), a 51,087 dwt MR product tanker vessel, built in 2006 by STX, South Korea, for a consideration of US$ 10.7 million.

This transaction allows d’Amico Tankers to generate at the delivery of the vessel (expected to occur between November 2021 and December 2021) around US$ 8.0 million in cash, net of commissions and reimbursement of the Vessel’s existing bank loan.

As of today, DIS’ fleet comprises 38 double-hulled product tankers (MR, Handysize and LR1, of which 20 owned, 10 chartered-in and 8 bareboat chartered-in) with an average age of about 7.2 years for its owned and bareboat chartered-in vessels.

Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping, stated: “I am pleased to announce the sale of MT High Venture, a 2006-built MR vessel and one of the oldest ships in our fleet. Through this deal we continue to pursue our long-term strategy of controlling a very young and mainly ‘Eco’ product tanker fleet. In addition, this vessel disposal will further strengthen our liquidity position through a net cash generation of approximately US$ 8.0 million.”

From today this press release is available on the investor relations section of DIS’ website, filed with the CSSF, disclosed through the e-market SDIR circuit and stored at Borsa Italiana S.p.A. through the e-market STORAGE system and at Société de la Bourse de Luxembourg S.A. in its quality of OAM.

d’Amico International Shipping S.A. is a subsidiary of d’Amico Società di Navigazione S.p.A., one of the world’s leading privately- o w n e d marine transportation companies, and operates in the product tankers sector, comprising vessels that typically carry refined petroleum products, chemical and vegetable oils. d’Amico International Shipping S.A. controls, through its fully-owned subsidiary, d’Amico Tankers D.A.C., Dublin, either through ownership or charter arrangements, a modern and double-hulled fleet, ranging from 35,000 to 75,000 deadweight tons. The Company has a long history of family enterprise and a worldwide presence with offices in key maritime centers (London, Dublin, Monaco, Stamford and Singapore). The Company’s shares are listed on the Milan Stock Exchange under the ticker symbol “DIS.MI”.

d'Amico International Shipping press release