d’Amico scraps Marinakis MR deal

Italian product tanker player d’Amico International Shipping (DIS) has terminated the purchase of a 2017-built MR agreed earlier this year.

The Milan-listed firm said the deal for the 50,000 dwt Amfitrion from Evangelos Marinakis’ stable fell through as the vessel had not been delivered in time.

“Due to the sellers’ failure to adhere to the cancelling date stipulated in the contract, we regret to announce the cancellation of the acquisition of the vessel, in accordance with our contractual rights,” said Carlos di Mottola, chief executive of DIS.

DIS struck a deal to buy the Samsung-built ship from Capital Maritime and Trading for $43.5m in April. The company paid a 10% deposit on the vessel and has already requested the full reimbursement.

The purchase would have taken DIS’ fleet to 34 double-hulled units of which 26 were owned and di Mottola added that the company is confident that new promising market opportunities will emerge in the future.