d’Amico International Shipping (DIS) has reached its goal of acquiring all its long-term chartered-in vessels, at significant discounts.
The Italian product tanker owner said on Thursday that a subsidiary had exercised its purchase option on the 50,000-dwt High Leader (built 2018) for $34.3m after snapping up four others in recent months.
It will be delivered in the middle of next year.
“Through the exercise of these options, DIS has taken ownership of six young and efficient MR vessels, all built by some of the most renowned Japanese shipyards, at purchase prices significantly below their current market value, creating substantial value for our company and shareholders,” said chief executive Carlos Balestra di Mottola.
He said the vessel came at a discount of approximately 26%, in line with VesselsValue’s $46.9m estimate.
MSI Horizon gave a range between $40.4m and $49.8m, making the discount slightly lower using the midpoint of those values.
The discount is also in line with the other recent deals.
Last week, DIS announced it had acquired the 50,000-dwt High Navigator (built 2018) at the same price.
Two others came earlier in the year: the 50,000-dwt Crimson Jade and Crimson Pearl (both built 2017) at $31m each.
All four vessels had similar valuations from both VesselsValue and MSI Horizon.
Prices for MR tankers have risen significantly since 2022, with a five-year-old vessel rising from $30m in January 2022 to $48m this month, according to statistics from Clarksons.
Ten-year-old vessels have seen similar increases over the same period, jumping from $20m to $38m.
So far this year, smaller vessels have dominated the tanker sale-and-purchase market, with 242 sold so far, versus 49 aframaxes, 17 suezmaxes and 47 VLCCs.
DIS said the moves leave the company with 33 tankers spread across the LR1, MR and handysize segments, 26 of which are owned, four of which are time-chartered-in and three on bareboat charters.
