d'Amico International Shipping S.A. (DMCOF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, this is the conference operator. Welcome and thank you for joining the D'Amico International Shipping Second Quarter and First Half 2026 Results Web Call. All participants are in listen-only mode 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 Rosen, CFO. Please go ahead, sir. Good afternoon and welcome to our earnings call for Q2 NH1 2026 results. As usual, I'll skip the executive summary and go straight to page seven. Snapshot of our fleet as at the end of June 2026, we had 28 ships on the water, six LR1s, 16 MRs, and six Andes. We also have, as you know, 10 ships currently under construction. Four are once scheduled for delivery in 2027, in the second half of next year. Four MRs, four MR2s, also called, and two Handys that are scheduled for delivery in 2029. Modern fleet, 9.9 average years. and moving to the next page, this is our situation on the bank debt front in H126 in line with our strategy, with our financial strategy that we discussed several times in our previous calls. We kept on voluntarily prepaying some of our existing debt and we, for $45.8 million actually in the first half of the year. And we drew down new facilities at a considerably lower cost of debt, taking advantage also of our enhanced credit merit. And also, we have some facilities which were coming to maturity in 2027. which is also a capital intensive year for us. As we mentioned before, we would take the delivery of four vessels next year. So we also extended our maturity on this depth. So right now we have zero depth expiring in 2027. and a very limited amount expiring in 28, $13.8 million on a ship that today is worth over $54 million and $17 million expiring in 2029. We are assuming here, as ...