(Alliance News) - d'Amico International Shipping SA announces Tuesday that its operating subsidiary d'Amico Tankers DAC Ireland has exercised its purchase option under the bareboat charter agreement related to the MT High Loyalty, a 49,990-ton 'MR' built in February 2015 at Hyundai-Mipo, South Korea, for approximately USD21.4 million.

It is expected that d'Amico Tankers will acquire full ownership of the vessel at the end of June 2023 and the final purchase price may slightly vary depending on the exact date of actual delivery of the vessel.

To date, the DIS fleet comprises 36 double-hulled tankers - MR, Handysize and LR1, including 22 owned, 8 chartered and 6 bareboat chartered vessels - with an average age relative to owned and bareboat chartered vessels of about 7.9 years.

Paolo d'Amico, president and CEO of d'Amico International Shipping, said, "DIS continues to implement its debt reduction strategy through the gradual exercise of purchase options on its bareboat charter vessels. Today, through this transaction, we acquire full ownership of the MT Loyalty, a modern and 'Eco' MR, built in 2015 by a leading Korean shipyard, which we had sold and leased back in 2018."

"As with the other two purchase options we have exercised in recent months, we will at least leave this vessel debt-free for the time being in order to further reduce our leverage and breakeven," d'Amico concluded.

d'Amico International Shipping is in the green by 1.1 percent at EUR0.37 per share.

By Chiara Bruschi, Alliance News reporter

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