Having broken a spell of consecutive quarterly losses, Italian product tanker owner d’Amico International Shipping (DIS) plans to spend ongoing and future profits on debt reduction and selected fleet expansion.
The company’s first acquisition targets are leased or time-chartered vessels it already operates and has purchase options on.
If some other opportunity comes up on the secondhand market, the company will look at it as well, chairman and chief executive Paolo d’Amico told TradeWinds after the company announced it was expecting “strong markets” in its industry “for several years”.
