D’Amico International Shipping (DIS) achieved revenues of USD 84.1 million in the first quarter of 2026, a lower figure compared to the USD 88.6 million recorded in the same period of 2025.
The decrease was mainly due to a lower number of equivalent vessels employed during the quarter. The percentage of off-hire days was lower (1.3% in 2026 vs. 2.2% in 2025), thanks to the maintenance and dry-docking schedule.
Voyage costs, applicable only to vessels in the spot market, reached USD 17.8 million in the first quarter of the current year, marking a decrease compared to USD 25.7 million in the same period of 2025.
Time-charter equivalent (TCE) earnings were USD 66.4 million, a higher number compared to the USD 62.9 million obtained in the first quarter of last year. In detail, DIS achieved an average daily spot rate of USD 32,264.
DIS highlighted that it maintained significant coverage of fixed-rate contracts, securing 62.2% of available days at an average rate of USD 23,001 per day. This strategy allowed it to secure revenues, cash flow and strengthen relationships with major oil companies.
The total average TCE (spot + time-charter) was USD 26,505 in the first quarter, while bareboat charter revenues were USD 1.2 million. Direct operating costs included crew, technical, lubricants, insurance expenses and IFRS 16 application. The operated fleet was smaller (29 vessels in 2026 vs. 30.6 in 2025), with no vessels on time-charter (0 in 2026 vs. 2.2 in 2025).
General and administrative costs were USD 5.3 million, the result from vessel sales was positive at USD 0.1 million and EBITDA reached USD 40.9 million, reflecting better operating performance. Meanwhile, depreciation was USD 11.7 million and EBIT stood at USD 29.2 million.
For its part, financial income totaled USD 2.1 million, mainly from interest on short-term securities and deposits. Financial expenses recorded USD 3.3 million, including interest on loans, swaps and leases, as well as negative exchange rate differences.
DIS recorded a net profit of USD 27.5 million in the first quarter, a higher amount compared to USD 18.9 million in the same period of 2025. Excluding extraordinary results, the adjusted net profit was USD 26.8 million.
