HIGH TRUST

General information

Course/Position

Latest news

Sold

D’Amico have sold their MR tanker “High Trust” 49/2016 Hyundai Vinashin to Japanese Buyers for USD 29.5 mill including 10 years bareboat back to D’Amico

D’Amico inks second product tanker deal in two days

ITALY’S D’Amico International Shipping has concluded two back-to-back deals for its product tankers as part of a fleet renewal programme. The company’s tanker unit has agreed a 10-year bareboat charter contract for the 49,990 dwt medium-range tanker HIGH TRUST which was built in 2016 by Hyundai-Mipo in South Korea for $29.5m, it said in a statement on Friday. It maintains full control of the vessel and has future purchase option. The deal will generate $11.9m in cash for D’Amico, after commissions and reimbursement of the vessel’s existing loan, it said, adding that it will contribute to the liquidity needed to complete its fleet renewal programme.