d’Amico International Shipping S.A. announced
cancellation of one SLS newbuilding contract

Luxembourg, 16 June 2009 – d’Amico International Shipping S.A. (Borsa Italiana: DIS), an international marine transportation company, operating in the product tanker market, today announced that GLENDA International Shipping Ltd (“GLENDA”), the joint venture company between d’Amico International Shipping S.A. and Glencore Group, gave notice to SLS Shipbuilding Co. Ltd Tongyeong Korea shipyard to terminate and rescind the new building contract related to the 51,000 DWT product /chemical tanker vessel bearing the Hull n° S510. The notice has been given as a result of excessive delays occurred in the final expected vessel’s delivery.

In accordance with the relevant contract and availing itself of the rights arising from it, GLENDA demanded to the shipyard to refund the full amount of all advances settled on account of the vessel together with accrued interest thereon.

d’Amico International Shipping S.A. is a subsidiary of d’Amico Società di Navigazione S.p.A., one of the world’s leading privately owned marine transportation companies, and operates in the product tankers sector, comprising vessels that typically carry refined petroleum products, chemical and vegetable oils. d’Amico International Shipping S.A. controls, either through ownership or charter arrangements, a modern, high-tech and double-hulled fleet, ranging from 35,000 and 51,000 deadweight tons. The Company has a history and a long tradition of family enterprise and a worldwide presence with offices in key market maritime centres (London, Dublin, Monaco and Singapore). The company’s shares are listed on the Milan Stock Exchange under the ticker symbol “DIS”.

d'Amico International Shipping