d'Amico International Shipping S.A. (DMCOF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

It is the conference operator. Welcome and thank you for joining the D'Amico International Shipping second quarter and first half of 2025 results web call. All participants are only synonymous. And after the presentation, there will be a Q&A session. At this time, I would like to turn the conference over to Mr. Federico Rosa, CFO. Please go ahead, sir. Thank you very much, good afternoon everyone and welcome to the Amico International Shipping Earnings Call. As always, I'll skip the executive summary and I'll go directly to our fleet snapshot. So, as you can see, we had 32 vessels at the end of June 2025, of which 29 owned and three bare boat chartered. The situation is a little bit different compared to what we had at the end of Q1. As we exercised, we took delivery actually of one of the time shuttering vessels, the I leader that we exercised our option on. As you may recall, we exercised our purchase options on two time shutter vessels and they were delivered to us in the first half of the year, the I navigator and the I leader. So we increased our own fleet. This situation will change a little bit also in the next coming months. As you know, we agreed to save two Glenda vessels, the Glenda Melody and the Glenda Melissa. The first one was already delivered to the buyers on the 14th of July, while the other one, the Glenda Melissa, will be delivered to the buyers by the 21st of December. So overall, at the same time, one more thing, we exercised purchase option on one of our bare boat charter vessels, the Charity Houston, which will be delivered to us in September. So at the end of the year, we should have a total fleet of 30 ships. Still a young fleet, 9.6 years average age compared to an industry average of 14 years for MRs and 15.7 for LR1s. 81.3% of the fleet w...