Italian product tanker owner and operator d’Amico International Shipping has strengthened its forward cover with two fresh long-term charter deals for a pair of MR tankers, securing earnings visibility across the next two years.
The Milan-and OTCQX-listed company said its operating arm, d’Amico Tankers in Ireland, has fixed out one Eco-MR1 and one Eco-MR2 to what it described as a “reputable counterparty.” Both fixtures run for close to two years, with the MR1 tied up for 23 to 25 months and the MR2 for 23 to 26 months. The company did not disclose the rates, but described them as “highly profitable.”
The new business lifts DIS’s forward coverage as it moves into a period of firm market fundamentals. The owner now has an estimated 57% of its available vessel days in Q4 2025 fixed at a time-charter equivalent of about $23,384 per day. Coverage drops to 42% for full-year 2026 at roughly $23,256 per day, and 16% for 2027 at around $22,214 per day.
Chief executive Carlos di Mottola said the deals support the company’s strategy of balancing spot exposure with fixed earnings.
“I am pleased to announce the conclusion of these two time-charter agreements, both for periods of approximately two years, with a reputable counterparty at very profitable rates, reflecting our industry’s strong fundamentals,” he said. “Coverage through these new contracts is aligned with our current commercial strategy, which seeks to manage market risk through a balanced mix of spot exposure and time-charter contracts.”
The company operates 31 double-hulled product tankers—29 owned and two on bareboat charters.
