D'Amico International Shipping Q1 revenue rises on higher freight rates amid conflict

dAmico International Shipping SA

07/05/2026 10:41

Overview

Italy product tanker operator's Q1 net revenue rose yr/yr amid robust market conditions

Adjusted net income and EBITDA for Q1 increased sharply from prior year

Company sold two oldest non-eco vessels, generating US$27.6 mln in cash

Outlook

Company expects tanker market conditions to remain highly uncertain due to ongoing Middle East conflict

D'Amico says structural supply constraints and aging fleet expected to support tanker market

Company is investing US$512.3 mln in new vessels, with deliveries scheduled through 2029

Result Drivers

MARKET CONDITIONS - Co attributed strong Q1 results to robust product tanker market, driven by higher freight rates and asset values

SPOT EARNINGS - Co said daily spot time-charter equivalent earnings rose 19% quarter-on-quarter and 53% yr/yr due to stronger market

GEOPOLITICAL DISRUPTIONS - Co cited conflict in Middle East and disruptions through Strait of Hormuz as significantly impacting tanker markets

Company press release: ID:nBIAml7Sl

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Revenue
$67.60 mln
$66 mln (2 Analysts)
Q1 Adjusted Net Income
$26.80 mln
Q1 Net Income
$27.50 mln
Q1 EBITDA
$40.90 mln
Q1 Operating Cash Flow
$35 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)