D’Amico International Shipping is looking to execute more sale-and-leaseback deals but those expecting it to put the money into newbuildings look likely to be disappointed.

Milan-listed D’Amico is working on a leaseback deal for two older vessels which have been held for sale and is also likely to enter a similar transaction for a more modern tanker, its chief executive says.

Marco Fiori says cash from the deals will be set aside and could be used to support additional chartering activity.