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Italian d'Amico's deficit continues to grow

Yet another product tanker has reported a deficit larger than in the previous period. This time, it is Italian d'Amico. Average TCE rates have deceased by USD 1,000.

Photo: d'Amico International Shipping

As product tankers' half-year reports trickle in, the industry's accumulated deficit over the last six months is in steep incline. Now, Italy's d'Amico International Shipping reports a deficit at USD 20.2 million for the first half of 2018 against a deficit at USD 6.2 million in the same period last year.

Like its competitors, the tanker shipping company was hit by declining rates during the first six months of the year. Whereas TCE spot rates in the first half of 2017 averaged USD 12,492, the rates have decreased by almost USD 1,000 to USD 11,526 in the first half of 2018.

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