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Italian carrier d'Amico plays it safe in product tankers

Nearly half of d'Amico's fleet is employed on long-term time charter contracts. The Italian tanker carrier delivered a somewhat lower net profit in the first quarter of the year.

The Italian d'Amico International Shipping, which belongs to a class of pure-play carriers within product tankers, delivered a net profit of USD 7.2 million in the first quarter of 2016 against USD 11.4 million in the same period the previous year.

The listed carrier has nearly half of its fleet on 40 vessels, 46.7 percent on time charter contracts to an average daily rate of USD 15.706, while the carrier's vessel in the spot market on average earned USD 18,000 (TCE) per day, a little less than in the same period last year, according to d'Amico's quarterly report.

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