d’Amico International Shipping Nine-month Profit Rises 71 per Cent

d’Amico International Shipping (DIS) reported a net profit of $107.2 million for the nine months ended September 30, 2026, up 71 per cent from $62.8 million a year earlier. The board approved the results on November 5.

The product tanker owner’s average daily spot time charter equivalent (TCE) rose 75 per cent to $41,094, from $23,473. Fixed-rate contracts covered 63.2 per cent of employment days at an average of $23,402 per day. The blended rate was $29,911.

Third-quarter net profit was $27.8 million, against $24.3 million in the same period of 2025. Spot TCE averaged $34,940 per day in the quarter.

The board also approved an interim dividend of about $40 million, or $0.3360 gross per share, payable on November 18. The ex-dividend date is November 16 and the record date is November 17.

DIS had net cash of $56.6 million at the end of September, compared with net debt of $27.4 million on December 31, 2025. Cash and cash equivalents stood at $265.4 million.

Chief Financial Officer Federico Rosen said this liquidity enabled the company “to meet our commitments under the approximately $512.3 million newbuilding programme” while returning capital to shareholders.

The programme comprises 10 product tankers: four LR1 tankers due in the second half of 2027 and six MR tankers due in 2029.