d’Amico International Shipping’s move into the LR1 product tanker sector is paying off, says chief executive Carlos Balestra di Mottola.
The larger product tankers were the primary reason that the Milan-listed company benefited from booming spot rates in the second quarter.
DIS has been increasing its exposure to the LR1 sector in the belief it would benefit from longer sailing distances caused by the crisis in the Middle East, Mottola said.
