d'Amico International Shipping S.A. (DMCOF) Q1 2025 Earnings Call Transcript

2025-05-09 13:45:44 ET

d'Amico International Shipping S.A. (DMCOF)

Q1 2025 Earnings Conference Call

May 08, 2025 08:00 AM ET

Company Participants

Federico Rosen - Chief Financial Officer

Carlos Balestra di Mottola - Chief Executive Officer, Chief Risk Officer & Executive Director

Conference Call Participants

Matteo Bonizzoni - Kepler Cheuvreux

Massimo Bonisoli - Equita

Presentation

Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the D'Amico International Shipping First Quarter 2025 Results Web Call. All participants are in a 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.

Federico Rosen

Hello, everyone, and welcome to D'Amico International Shipping Conference Call Presentation for Q1 2025. So as usual, I'll skip the executive summary. Snapshot of the fleet as of the end of March 2025, D'Amico International Shipping had 32 ships, 32 product tankers, of which 28 were owned, three were bareboat chartered and one was time charter in.

As we speak, one of the vessels -- one of -- the only vessel that is time charter in that it was time charter in at the end of March was actually exercised a purchase option on this vessel was exercised. So now it's an owned vessel. Still young fleet, 9.4 years of average age against an industry average of 14.1 years for MRs and 15.7 years for LR1s. 84% of our fleet is ecodesign against an industry average of 37%....

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