D'amico International Shipping S.a. · MIL:DIS
D'amico International Shipping — Q2 2024 Earnings Presentation
68 slides from D'amico International Shipping's earnings presentation, Aug 1, 2024
Slide 1: Q2 & H1 2024 Presentation
Q2 & H1 2024 Presentation d’Amico International Shipping August 1st, 2024
Slide 2: Disclaimer
DISCLAIMER. There shall be no offering or sale of any securities of d’Amico International Shipping S.A. in the United States of America, Switzerland, Canada, Australia, Japan, the United Kingdom or any jurisdiction in which such offer, solicitation or sale would be unlawful prior to its registration
Slide 3: Agenda
AGENDA. ▪ Executive summary ▪ DIS’ overview ▪ Market overview ▪ Why invest in DIS ▪ DIS’ ESG ▪ Appendix
Slide 4: Executive summary
Executive summary. • Net result – In H1’24, d’Amico International Shipping SA (“DIS” or “the Company”) recorded a strong Net profit of US$ 122.9m vs. a Net profit of US$ 99.8m in the same period of last year. The adjusted net result (excluding non-recurring items) was of US$ 118.4m in H1’24, compare
Slide 5: Executive summary
Executive summary. • Order of four LR1 newbuilding vessels – In Apr’24, DIS signed a shipbuilding contract with Jiangsu New Yangzi Shipbuilding Co., China, for the purchase of two LR1 product tanker vessels at a contract price of US$ 55.4m each. These new very efficient vessels are expected to be de
Slide 6: DIS' overview
L. Veritoo INTERNATIONAL SHIPPING 5.4 . ‘S ES
Slide 7: A modern, high-quality and versatile fleet
A modern, high-quality and versatile fleet. June 30th, 2024 DIS Fleet1 LR1 MR Handy Total % Owned 5.0 14.0 6.0 25.0 75.8% Bareboat chartered 1.0 2.0 0.0 3.0 9.1% Time chartered-in long-term 0.0 2.0 0.0 2.0 6.0% Time chartered-in short-term 0.0 3.0 0.0 3.0 9.1% TOTAL 6.0 21.0 6.0 33.0 100.0% • DIS co
Slide 8: DIS' CAPEX commitments
DIS’ CAPEX1 commitments. Investment plan US$/mm 250.0 194.6 200.0 3.9 164.4 171.3 151.1 3.6 12.8 0.7 150.0 101.2 83.7 79.0 1.0 100.0 85.3 190.7 8.1 2.5 1.4 65.2 63.3 167.7 151.6 150.3 51.3 5.2 5.5 41.5 50.0 100.2 6.6 33.4 30.4 77.1 81.2 77.7 27.4 60.0 12.0 11.7 2.4 6.8 44.7 9.2 8.1 30.4 29.8 31.0 22
Slide 9: Lighter bank debt repayments and low refinancing risk
Lighter bank debt repayments and low refinancing risk. Forecasted bank debt financing cash-flow Daily bank loan repayment on owned vessels (Excluding overdraft facilities)1,2,3 (Excluding overdraft facilities)1,2,3 US$/mm US$/mm US$/mm US$/day 40 25 60 6,147 6,500 30 13.5 15 6,000 20 34.3 50 32.0 10
Slide 10: DIS' purchase options on leased vessels
DIS’ purchase options on leased vessels. Exercised purchase options: Unexercised purchase options: Build Purch. Option Purch. Vessel Name Build Purch. Option First Ex. Option (In/Out of Date Delivery Date Vessel Name Obligation 7 1 Date First Ex. Date the money) High Priority Mar-05 Feb-21 Date 2 Hi
Slide 11: DIS' purchase options on time-chartered-in vessels
DIS’ purchase options on time-chartered-in vessels. Exercised purchase options: Unexercised purchase options: Build Purch. Option Build Purch. Option Purch. Option First Ex. Option Vessel Name Vessel Name Date Delivery Date Date First Ex. Date Last Ex. Date (In/Out of the money) High Adventurer Nov-
Slide 12: Contracts and modern fleet to drive future results
Contracts and modern fleet to drive future results. Average TC and TC equivalent covered rates1 % of ‘employment days’ US$/day 70% 35,000 • For H2’24, DIS has covered ~37% of its available vessel days 29,350 29,705 29,206 28,677 28,470 28,135 27,996 at an average TC equivalent rate of ~US$ 27.5 thou
Slide 13: Q3'24 estimated TCE earnings
Q3’24 estimated TCE earnings1. Q3’24 fixed days Q3’24 potential blended TCE TCE US$/day % of ‘fixed days’ TCE US$/day 31,000 80% 71% 30,000 30,500 70% 30,000 60% 29,500 29,500 50% 29,000 42% 29,000 28,500 40% 28,000 28% 30% 28,500 27,500 20% 27,000 28,000 10% 26,500 27,591 30,305 28,677 28,330 29,06
Slide 14: Large potential upside to future earnings
Large potential upside to future earnings. Estimated fleet evolution (avg. n. of vessels)1 Potential upside to earnings2 N. of ships (based on ‘available days’) US$/mm 40 40 34.1 35 0.4 32.0 35 1.0 30.9 3.0 1.0 30 2.7 2.0 30 4.9 0.9 2.0 25 25 20 20 15 15 28.9 26.3 27.0 27.7 25.8 10 10 5 5 8.6 9.2 9.
Slide 15: Moderating cost pressure
Moderating cost pressure. Daily operating costs – owned and General & administrative costs – total fleet bareboat vessels1 US$/day US$/m 8,000 12.0 7,800 10.0 7,600 7,400 8.0 7,200 7,000 6.0 7,795 11.3 11.1 7,749 6,800 7,534 4.0 8.1 6,600 7.0 6.8 6,958 5.9 6.2 6,400 6,796 6,809 2.0 6,679 6,200 6,000
Slide 16: Financial results. H1'24 Net financial position
Financial results. H1’24 Net financial position (US$ million) Dec. 31st, 2023 Jun. 30th, 2024 Gross debt (314.3) (293.8) IFRS 16 – additional liabilities (25.6) (14.7) Cash and cash equivalents 111.2 181.9 Other current financial assets1 4.5 4.4 Net financial position (NFP) (224.3) (122.2) Net finan
Slide 17: Financial results. H1'24 Results
Financial results. H1’24 Results (US$ million) Q2’23 Q2’24 H1’23 H1’24 Non-recurring items: TCE Earnings 97.2 106.5 203.5 210.5 (US$ million) Q2’23 Q2’24 H1’23 H1’24 Total net revenue 98.4 107.7 205.9 213.0 Result on disposal of vessels (1.4) 4.9 (3.8) 4.6 Result on disposal of vessels (1.4) 4.9 (3.
Slide 18: Financial results. H1'24 Key operating measures
Financial results. H1’24 Key operating measures Key Operating Q1 2023 Q2 2023 H1 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 H1 2024 Measures Avg. n. of vessels 36.0 36.0 36.0 36.0 36.0 36.0 35.5 33.5 34.5 Fleet contact 25.2% 27.2% 26.2% 31.2% 35.6% 29.8% 41.3% 42.5% 41.9% coverage Daily TCE Spot 3
Slide 19: Market overview – market fundamentals
Market overview – market fundamentals
Slide 20: Potential upside to asset values
Potential upside to asset values. Historical MR TC and spot rates1 Historical MR asset values1 US$/day US$/m 50,000 1 YR TC is currently ~2% below the last cycle 45,000 peak, whilst spot rates reached an all-time high 60 NB, 5yr old and 10yr old vessels are 40,000 in Dec’22 and they are currently ~4
Slide 21: Trade disruptions. Russian refined product exports
Trade disruptions. Russian refined product exports1 Russia’s refined product exports by destination Russia’s refined product exports Million barrels per day Million barrels per day 3.5 3.5 3.0 3.0 2.5 2.5 2.0 2.0 1.5 1.5 1.0 1.0 0.5 0.5 0.0 0.0 Feb-21 Feb-22 Feb-23 Feb-24 Jul-21 Jul-22 Jul-23 Jul-24
Slide 22: Trade disruptions. Red Sea attacks
Trade disruptions. Red Sea attacks Voyage duration increase on key trades (sea-days)2 Voyage duration increase on key trades (%)2 60 50 Ventspils - Singapore +32.4% 50 45 43 42 40 41 Singapore - Amsterdam +35.5% 38 40 34 30 30 31 30 28 Sikka - New York +37.3% 24 23 20 Ventspils - Jubail +53.6% 10 Si
Slide 23: Oil demand and refining throughputs recovering
Oil demand and refining throughputs recovering. Global oil demand1 Global refinery throughputs1 Million barrels per day Million barrels per day 105.0 104.1 88.0 103.9 104.0 85.4 85.5 102.9 86.0 103.0 83.5 83.6 83.3 102.0 101.3 103.2 84.0 82.7 83.1 102.5 82.4 82.1 82.5 81.4 102.2 82.0 101.0 81.3 81.9
Slide 24: Healthy oil supply growth
Healthy oil supply growth. World oil production1 Million barrels per day ‘24 average changes • Due to the pronounced supply cuts by OPEC, oil output in FY’23 averaged 102.2 mb/d, representing only a 0.8 mb/d increase compared to Q4’22. • For FY’24 world oil supply is projected to expand by 0.77 mb/d
Slide 25: Refined product inventories at low levels
Refined product inventories at low levels. Crude oil price (Brent, US$ bbl), forward curve1 CPP vs DPP and crude oil floating storage2 82 81.6 Million barrels 80.8 350 81 80.1 325 79.6 300 80 275 79.2 78.9 250 79 78.5 225 78.2 200 77.8 78 77.5 175 77.2 150 76.9 125 77 100 75 76 50 25 75 0 Jan'20 Jan
Slide 26: Temporary softening in refining margins
Temporary softening in refining margins. Refining cracks, Rotterdam CIF or Barge FOB vs Brent1 60 50 40 30 20 10 0 -10 -20 -30 -40 Diesel Crack HSFO 3.5% Crack Jet Fuel Crack Gasoline Crack Refining margins have recently softened, although are still at historically attractive levels. 1. Source: Bloo
Slide 27: Gasoline and Jet Fuel to lead demand growth in '24
Gasoline and Jet Fuel to lead demand growth in ‘24. % Change in number of commercial Jet fuel & Kerosene demand 2021-2023 Global demand growth by product flights vs. 20191 (kbpd) 2 2024 (kbpd) 2 15% Thousand barrels/day Y-O-Y growth Thousand barrels 8,000 25% 0% 20.1% Motor Gasoline +294 7,000 17.5%
Slide 28: Support expected also from crude tanker market
Support expected also from crude tanker market1. Coated LR2 fleet: clean vs. dirty trading1 Crude tankers’ orderbook % Fleet (dwt)2 45.0% 100% 1% 1% 1% 0% 0% 0% 0% 0% 0% 0% 0% 40.0% 90% 35.0% 80% 37% 40% 38% 39% 36% 40% 37% 37% 46% 44% 43% 30.0% 70% 25.0% 60% 20.0% 41.1% 50% 35.8% 36.9% 15.0% 31.8%
Slide 29: Longer-term demand. Changes in the refinery landscape
Longer-term demand. Changes in the refinery landscape Net refinery capacity additions by year ‘23-’261 % of net refinery capacity additions ‘23-’261 Thousand barrels/day 1,500 35.0% 1,300 30.0% 1,100 25.0% 900 20.0% 700 37.3% 15.0% 28.7% 500 25.5% 10.0% 300 16.0% 5.0% 100 6.1% 4.1% 0.0% -100 2026 20
Slide 30: Longer-term demand. US shale oil
Longer-term demand. US shale oil EIA’s US oil production (mbd)1 US horizontal oil rigs (lhs) vs WTI (US$ bl, rhs)2 14.5 14.0 14.0 13.6 1500 130 13.5 13.3 120 13.0 1300 110 13.0 12.8 100 12.5 1100 90 11.7 80 12.0 900 12.1 70 11.5 60 700 50 11.0 500 40 10.5 10.9 30 10.0 300 20 9.7 9.9 10 9.5 100 0 Dec
Slide 31: Several forces spurring demolition
Several forces spurring demolition. Scrap steel price1 US$/ldt 800 22-Apr-2022, 680 700 10-Oct-2014, 510 12-Jul-2024, 520 600 500 400 300 19-Aug-2011, 445 200 17-Jul-2020, 270 04-Mar-2016, 240 100 0 Jul-2017 Jan-2020 Jan-2012 Jan-2013 Jan-2014 Jan-2015 Jan-2016 Jan-2017 Apr-2017 Jan-2018 Jan-2019 Ja
Slide 32: Growing pool of demolition candidates
Growing pool of demolition candidates. Historical and forecasted fleet composition by age (MRs and LR1s)1 • The proportion of vessels which have 70% 59.9% 60% 54.9% more than 15 and 20 years has been 46.9% 50% 42.2% rising rapidly and this trend is 40% 34.6% expected to accelerate over the 28.4% com
Slide 33: Planned deliveries to stay at low levels in '24 and H1'25
Planned deliveries to stay at low levels in ’24 and H1’25. MR & LR1 deliveries, 2023-20241 35 30 25 N. Of vessels 20 33 15 24 10 15 16 13 13 5 8 0 2 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Actual deliveries Estimated deliveries MR & LR1 demolitions, 2018-20241 20 18 16 N. Of vessels 14 12 10
Slide 34: Newbuild orders rising but still limited
Newbuild orders rising but still limited. MR newbuilding parity curve vs MR & LR1 orders2 second-hand values1 Period end US$ Million N. of vessels orderbook/fleet ratio 60.0 250 70% 53.0 61% 55.0 60% 50.0 200 45.0 47.3 43.4 47% 50% 40.0 35.0 39.3 33.9 150 40% 30.0 31% 25.0 28.5 24.3 30% 100 21% 20.0
Slide 35: Slow fleet growth
Slow fleet growth. MR & LR1 deliveries and scrapping (m dwt) (lhs), and net Current MR & LR1 fleet age fleet growth (%)1 (rhs) profile1 46.9% of current fleet Million Dwt Million Dwt 12 14% 13.5% of current fleet 12.7% 70 11.5% of current fleet 10 11.9% 12.0% 12% 60.5 8 10.0% 9.7% 10% 60 9.2% 8% 6 5
Slide 36: Why invest in DIS
Why invest in DIS
Slide 37: Historical NAV evolution
Historical NAV evolution. DIS’ Historical NAV evolution1,2,3 US$/m US$/share 1200 50 12.00 45 39 1170 30 1098 9.81 9.76 993 1000 9.70 10.00 9.10 8.92 8.23 7.84 7.90 800 7.55 767 8.00 6.94 6.89 6.27 6.24 600 5.58 5.54 6.00 4.44 4.21 406 3.98 400 348 3.51 3.56 340 4.00 327 309 286 246 2.75 262 233 230
Slide 38: Potential use of funds (excluding cash returned to shareholders)
Potential use of funds (excluding cash returned to shareholders). Potential use of funds for investments and lease reimbursements US$/mm • DIS currently plans investments and lease reimbursements of US$ 189.7 million, arising from the exercise of purchase options on its time-chartered-in and bareboa
Slide 39: Increasing shareholder returns
Increasing shareholder returns. Cash returned to shareholders Financial Leverage (NFP to FMV) US$/mm % 200.0 70.0% 60.4% 60.0% 150.0 50.0% 100.0 192.2 40.0% 36.0% 134.9 122.9 50.0 30.0% 50.0 18.0% 22.0 7.1 0.7 20.0% - 9.1% -37.3 FY'21 FY'22 FY'23 H1'24 10.0% -50.0 0.0% Net result Dividends Buyback Y
Slide 40: Why invest in DIS today
Why invest in DIS today. • Young-fleet, most of which acquired at historically attractive prices and at top-tier yards. Furthermore, vessels are mostly eco-design (82% of owned and bareboat ships) and IMO classed (79% of owned and bareboat ships). • First-class in-house technical management provides
Slide 41: DIS' ESG
BA INTERNATIONAL SHI Vy “3
Slide 42: DIS' Purpose and Values
DIS’ PURPOSE and VALUES. Long-term vision, Family tradition and Business Ethics Innovation Our sustainable business model pursues the goal of Inspired by the values of our family, we build our creating value and generating a positive impact on the business with a long-term view, focusing on innovati
Slide 43: DIS' ESG. Key figures
DIS’ ESG. Key figures GOVERNANCE RESPONSIBILITY 2023 Cases of corruption, bribery or anti-competitive behavior - Instances for which fines were incurred - ENVIRONMENTAL RESPONSIBILITY (owned and bareboat vessels) 1 2023 EEXI Compliant ships (as at year-end) 100.0% EEDI - Pre-EEDI (%) (as at year-end
Slide 44: DIS' ESG. Environment and Safety
DIS’ ESG. Environment and Safety DIS seeks to be an industry leader on environmental and safety issues: • Among the first fleets worldwide compliant with Monitoring Reporting and Verification criteria for CO2 emissions. • Since 2011 DIS has a fleet performance monitoring department to optimize vesse
Slide 45: DIS' ESG. Environmental KPIs
DIS’ ESG. Environmental KPIs EEDI compliance (owned and bareboat) – at year-end Pre-EEDI Phase 1 Phase 2 Phase 3 EEDI compliant ships (%) 20.7% 0.0% 62.1% 17.2% EEXI compliance (owned and bareboat) - at year-end 2021 2022 2023 EEXI compliant ships (%) 70.0% 89.3% 100.0% Fleet certified for the use o
Slide 46: DIS' ESG. Corporate Governance
DIS’ ESG. Corporate Governance DIS is listed on the most demanding segment of the Milan stock exchange (the Star), and has therefore adopted a first-class corporate governance framework: • Incorporated in Luxembourg, it is organized and governed in compliance with Luxembourg laws • Listed on the STA
Slide 47: DIS' ESG. Social responsibility
DIS’ ESG. Social responsibility DIS seeks a diverse and inclusive work environment, where teamwork is highly valued. The high levels of employee satisfaction result in high retention rates. • 25 onshore personnel as at 31 December 2023; • 626 seagoing personnel as at 31 December 2023; • 100% retenti
Slide 48: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable DIS’ Sustainable DIS’ Sustainable Sustainability Development Sustainability Development Sustainability Development Topics Goals Topics Goals Topics Goals Vessel energy Integrated Ship recycling efficiency management system for ongoing improvement
Slide 49: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable Activity performed by DIS Sustainability Topics Development Goals Vessel energy efficiency • Renewal of the fleet with “Eco” vessels, in line with IMO directives, thanks to the implementation of innovative technologies. Innovation: • Projects aime
Slide 50: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable Activity performed by DIS Sustainability Topics Development Goals Integrated management • Transparent statement of policies governing operations on board managed ships - in system for ongoing order to ensure safety and efficiency - and of the meth
Slide 51: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable Activity performed by DIS Sustainability Topics Development Goals Ship recycling • Preparation of hazardous material inventories on all new buildings and on the existing fleet. Stakeholder engagement • Stakeholder mapping and detection of needs an
Slide 52: Appendix
INTERNATIONAL SHIPPING SA
Slide 53: DIS' Shareholdings Structure
DIS’ Shareholdings Structure. Key Information on DIS’ shares 3 1. d'Amico International SA 60.66% 2. Others 36.46% 2 3. d'Amico International Shipping SA 2.88% 100.00% 1 Listing market Borsa Italiana, STAR No. of shares issued 124,106,556 Market capitalisation1 €842.5 million Shares repurchased / %
Slide 54: d'Amico Group Structure
d’Amico Group Structure. 100% d’Amico Società di Navigazione Spa d’Amico International S.A. 100% 100% d’Amico Ship Ishima Pte Ltd Management S.r.l. 85% 76.9% Rudder S.A.M. Sirius Ship Management S.r.l. 100% d’Amico Dry d.a.c. 60.66% d’Amico International Shipping S.A. 100% d’Amico Tankers d.a.c. 100
Slide 55: DIS' estimated sensitivity to interest rates
DIS’ estimated sensitivity to interest rates1. (US$ million) FY’24 FY’25 FY’26 Estimated average bank debt (234.9) (209.9) (178.3) Estimated average hedged bank debt 102.3 67.3 25.6 Estimated average unhedged bank debt (132.7) (142.6) (152.6) Assumed average cash & equivalents 100.0 100.0 100.0 Esti
Slide 56: IMO (MEPC 76): CII and EEXI. 1/2
IMO (MEPC 76): CII and EEXI. 1/2 In June 2021, IMO's Marine Environment Protection Committee (MEPC 76) adopted amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) Annex VI that will require ships to reduce their greenhouse gas emissions. These amendments co
Slide 57: IMO (MEPC 76): CII and EEXI. 2/2
IMO (MEPC 76): CII and EEXI. 2/2 In July 2023, IMO's Marine Environment Protection Committee (MEPC 78) has set more ambitious targets compared with the Initial IMO Strategy on Reduction of GHG Emissions from Ships. The new targets consider the Well-to-Wake (WtW) GHG emissions of marine fuels, as add
Slide 58: EU Emission Trading System (ETS) and Fuel EU
EU Emission Trading System (ETS) and Fuel EU. The European Commission has recently published a set of legislative proposals to enable the EU to attain its 2030 target of reducing its greenhouse gas emissions by at least 55% by 2030 compared with 1990 levels. In particular, the EU Commission included
Slide 59: DIS' Fleet. Technical Efficiency
DIS’ Fleet. Technical Efficiency Propeller Speed/po Prop. Low Mewis Preswirl Eco EPL (Engine OPS (Onshore Ships boss cap Fins Led wer silicon friction Duct vane nozzles Power Limit) power supply) fins control paint paint Glenda Melody Glenda Meryl Glenda Melissa High Tide High Seas • Cielo di Gaeta
Slide 60: DIS' Fleet. Operational Efficiency
DIS’ Fleet. Operational Efficiency Tekomar Cutting of CBM (Condition Biofouling Hull full blasting Ships Health check Prop. cleaning Users based maintenance) Risk management age above 10Y for C02 reduction Glenda Melody Glenda Meryl Glenda Melissa High Tide High Seas Cielo di Gaeta Cielo di New York
Slide 61: Financial results. Consolidated Income Statement
Financial results. Consolidated Income Statement Q2 2024 Q2 2023 H1 2024 H1 2023 UNREVIEWED UNREVIEWED US$ Thousand 137,104 130,599 Revenue 269,265 270,832 (30,628) (33,371) Voyage costs (58,724) (67,338) 106,476 97,228 Time charter equivalent earnings* 210,541 203,494 1,215 1,215 Bareboat charter r
Slide 62: Financial results. Consolidated Balance Sheet
Financial results. Consolidated Balance Sheet As at As at US$ Thousand 30 June 2024 31 December 2023 ASSETS Property, plant and equipment and Right-of-use assets 790,667 794,259 Other non-current financial assets 1,767 2,434 Total non-current assets 792,434 796,693 Inventories 13,572 13,727 Receivab
Slide 63: Financial results. Consolidated Cash Flow Statement
Financial results. Consolidated Cash Flow Statement Q2 2024 Q2 2023 US$ Thousand H1 2024 H1 2023 UNREVIEWED UNREVIEWED 66,543 45,717 Profit for the period 122,883 99,833 14,495 14,682 Depreciation and amortisation 30,157 30,489 434 320 Current and deferred income tax 799 597 1,182 2,547 Net lease co
Slide 64: DIS' Current Fleet Overview. LR1 & MR Fleet
DIS’CURRENT FLEET OVERVIEW. LR1 & MR Fleet Owned - LR1 Tonnage (dwt) Year Built Builder, Country Interest1 IMO Classified Bright Future2 75,000 2019 Hyundai MIPO, South Korea (Vinashin) 100% - Cielo di Cagliari 75,000 2018 Hyundai MIPO, South Korea (Vinashin) 100% - Cielo Rosso 75,000 2018 Hyundai M
Slide 65: DIS' Current Fleet Overview. MR Fleet
DIS’CURRENT FLEET OVERVIEW. MR Fleet TC - IN Long Term with purchase option Tonnage (dwt) Year Built Builder, Country Interest1 IMO Classified High Leader 50,000 2018 Japan Marine United Co., Japan 100% IMO II/IMO III High Navigator 50,000 2018 Japan Marine United Co., Japan 100% IMO II/IMO III Crim
Slide 66: DIS' Current Fleet Overview. Handy Fleet
DIS’CURRENT FLEET OVERVIEW. Handy Fleet Owned Tonnage (dwt) Year Built Builder, Country Interest1 IMO Classified Cielo di Salerno 39,043 2016 Hyundai MIPO, South Korea (Vinashin) 100% IMO II/IMO III Cielo di Hanoi 39,043 2016 Hyundai MIPO, South Korea (Vinashin) 100% IMO II/IMO III Cielo di Capri 39
Slide 67: DIS' New Building Program
DIS’NEW BUILDING PROGRAM. Owned Estimated tonnage (dwt) Estimated delivery date Builder, Country Interest1 MR/Handysize/LR1 YZJ2024-1642 – Tbn 75,000 Q3-2027 Jiangsu New Yangzi Shipbuilding, China 100% LR1 YZJ2024-1643 – Tbn 75,000 Q4-2027 Jiangsu New Yangzi Shipbuilding, China 100% LR1 YZJ2024-1644
Slide 68: Thank you!
Thank you!
d'Amico International Shipping — Q2 2024 Earnings Presentation on 6ix