Shipping Industry News, Italian shipowner d’Amico International Shipping (hereinafter referred to as “d’Amico”) announced its third-quarter 2025 results on November 7. Despite a significant profit decline, d’Amico remains optimistic about the prospects of the product tanker market.
d’Amico CEO Carlos Balestra di Mottola stated, “I am proud to share d’Amico’s results for the third quarter and the first nine months. Even compared to last year’s outstanding performance, the current results confirm the strength of d’Amico’s business model and the continued strength of the product tanker market.”
Overall, d’Amico continues to benefit from a favorable market environment and favorable market fundamentals supported by persistent trade disruptions, limited fleet growth, and shifting global oil flows.
He pointed out that Western sanctions remain a key driver of market tightness. Meanwhile, on the vessel supply side, newbuilding orders have slowed sharply after years of expansion. In the first nine months of 2025, only 37 MR and LR1 tankers were ordered, compared to 178 in the same period of 2024.
He said, “We did not expect this market to last this long.”
He noted, “In a favorable market environment influenced by many complex and unpredictable geopolitical and regulatory factors, d’Amico’s priorities remain unchanged: operating a modern, fuel-efficient fleet, maintaining a robust financial structure, and pursuing a prudent yet flexible commercial strategy. These pillars keep d’Amico resilient and well-positioned to seize future opportunities and create lasting value for shareholders.”
In the third quarter of 2025, d’Amico achieved revenue of $87.694 million, a year-on-year decrease of 24.2%; EBITDA was $39.158 million, a year-on-year decrease of 32.1%; net profit was $24.291 million, a year-on-year decrease of 39.6%. Its fleet’s average daily TCE reached $24,335 in the third quarter, a year-on-year decrease of 14.9%.
In the first three quarters of 2025, d’Amico achieved revenue of $260 million, a year-on-year decrease of 31.4%; EBITDA was $110 million, a year-on-year decrease of 48.6%; net profit was $62.801 million, a year-on-year decrease of 61.5%. Its fleet’s average daily TCE reached $23,583 in the first three quarters, a year-on-year decrease of 29.4%.
For the fourth quarter of this year, d’Amico has secured revenue for 54% of its operating days at an average daily TCE of $23,492.
As of now, d’Amico operates 31 product tankers, of which 29 are owned and 2 are on bareboat charter. The average age of its owned and bareboat chartered vessels is approximately 9.7 years.
