d'Amico International Shipping S.A. (DMCOF) Q4 2025 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 Full Year 2025 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 Federico Rosen, CFO. Please go ahead, sir. Thank you. Hello, everyone, and welcome to the Amigo International Ship in full year 25, Irving's Call. Skipping the executive summary and going directly to the snapshot of our fleet. We have right now 29 ships on the water, of which six are LR1s, 17 are MRs, and six are handy vessels. 27 of these ships are old vessels, while we still have two ships in Maribor Charity. We also have, as you probably know, 10 ships under construction. Four are ones we'd expect to deliver in 2027. Four MR we'd expect to deliver in 2029. And two Handis we'd expect to deliver also in 2025. young fleet of 9.6 years, compared to an industry average of almost 15 years for MRs and 16 years for MR1s. 93% of our fleet is eco, compared to an industry average of 40%. Basically looking at our fleet, now only two ships are not eco vessels. Moving to the next page, on the depth side, You probably read our recent press release. We were quite active on the bank loan front, bank debt front. So as you know, we just repaid about $82 million of some old loans that we had. And we drew down new facilities for approximately $83 million at a considerably lower margin over the US dollar software. So right now we have a weighted average spread on software of only 1.6%. which is a very low number for us, and also the average duration of our debt was, the remaining maturity of our debt was 3.3 years at the end of September, and it is now 4.9 years. We also had a big chu...