DIS’ di Mottola explains why two bargain tanker purchase options may not be used

Italian owner d'Amico International Shipping (DIS) has been busy buying its leased tankers for bargain prices through financing options.

But the company may not use its options to repurchase the last two such MR vessels, according to chief executive Carlos Balestra di Mottola.

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DIS said this week that options for the 50,000-dwt High Fidelity, owned by Japan’s Sasano Kaiun, and High Discovery (both built 2014), owned by Hinode Kaiun, are both in the money, meaning they could be acquired for less than their valuations.