Italian product tanker owner d’Amico International Shipping has secured a two-year time charter for one of its MR2 tankers with an oil major, locking in stable revenue and reducing spot market exposure for that vessel, according to Splash247. The charter, signed by the company’s Irish operating arm d’Amico Tankers, was described as highly profitable, though the rate and vessel name were not disclosed.
This fixture is part of d’Amico’s strategy of selectively taking period business while keeping exposure to the spot market, as stated by CEO Carlos di Mottola. The company has executed several longer-term charters over the past year to balance earnings visibility with market upside.
Following the fixture, d’Amico International Shipping has 53% of its available vessel days covered for the second half of 2026 at an average time-charter equivalent (TCE) rate of about $23,700 per day. The company has also fixed 27% of its 2027 days at about $23,751 per day and 2% of 2028 days at about $25,639 per day, according to Splash247.
| Period | Available Days Covered | Average TCE Rate (per day) |
|---|---|---|
| H2 2026 | 53% | $23,700 |
| 2027 | 27% | $23,751 |
| 2028 | 2% | $25,639 |
Fleet Renewal and Sales Activity
Beyond charters, d’Amico has been actively renewing its fleet. In March, Splash247 reported that d’Amico International Shipping exercised options for two additional 50,000 dwt MR2 newbuildings at Jiangsu New Yangzi Shipbuilding, bringing its orderbook to ten ships. Each vessel costs $45.4 million, with deliveries scheduled for August and October 2029, following an initial pair from the same yard due earlier that year.
To balance growth, the company is selling older tonnage. Last month, d’Amico International Shipping confirmed the sale of the 2012-built MR tanker High Tide for $28.5 million, describing it as the oldest and last remaining non-eco vessel in its fleet. That deal followed the sale of sister vessel High Seas earlier this year for $27.6 million.
At the end of the first quarter, d’Amico International Shipping controlled 29 product tankers, comprising 27 owned vessels and two bareboat-chartered-in ships with purchase obligations, per Splash247.
Implications for Shippers and Operators
For logistics managers and charterers, the latest two-year fixture signals continued strong demand for MR2 product tankers, potentially tightening spot availability. The profitable rate suggests that owners are securing favourable terms, which may pressure spot rates upward. Additionally, the fleet renewal programme—10 newbuildings on order—will eventually add capacity, but not until after 2029. Meanwhile, the sale of older vessels like High Tide and High Seas reduces the supply of non-eco tonnage, which could further support freight rates for eco-compliant ships.
Watch List
- Future fixtures: d’Amico is likely to continue selective period charters. Any additional long-term deals will further reduce spot availability and indicate market sentiment.
- Newbuilding deliveries: The first pair of MR2s from Jiangsu New Yangzi are due in 2029, with follow-up units in August and October 2029. These will incrementally increase capacity.
- Vessel sales: Further sales of older tankers could shrink the active fleet, supporting rate levels in the medium term.
- Oil major demand: The identity of the charterer (an oil major) suggests robust demand from that segment, and any change in their chartering activity will influence the MR2 market.
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