Tanker shipping is one of those sectors that most investors prefer to avoid. It is cyclical, capital-intensive, and driven by commodity and geopolitical factors that are notoriously hard to predict. Yet for a deep-value process like TVISIL, the very features that repel most investors are what create the opportunity.
d’Amico International Shipping (Milan: DIS) is an Italian-listed tanker company transporting refined oil products globally. TVISIL added it to the model portfolio in April 2025. Since entry, the position has returned approximately +125% and remains open.
What Is d’Amico International Shipping?
d’Amico International Shipping is a product tanker operator with a modern, fuel-efficient fleet focused on transporting refined petroleum products – gasoline, diesel, jet fuel, and similar cargoes – across global trade routes. The company is listed on the Milan Stock Exchange and is controlled by the d’Amico family, with a long history in the shipping sector.
The business earns money when its ships are on charter, either at fixed contract rates or at spot market rates. Its modern fleet gives it a competitive advantage on fuel efficiency and environmental compliance relative to older vessels.
What the TVISIL Screen Found
When TVISIL flagged d’Amico in April 2025, two screens lit up simultaneously:
High Dividend Yield: d’Amico was paying a strong dividend relative to its depressed share price. Shipping companies tend to pay high dividends during profitable periods, and the market was not crediting the sustainability of those payments. TVISIL’s balance sheet check confirmed the payout was supportable.
Cheap Earnings (Acquirer’s Multiple): On an EV/EBIT basis, the market was pricing d’Amico as if tanker rates would fall immediately and permanently back to loss-making levels. In reality, structural supply constraints – driven by limited new vessel orders and tightening environmental regulations on older ships – were supporting rates at profitable levels.
Modern fleet as a quality filter: TVISIL does not just buy cheap – it insists on a quality check. d’Amico’s modern fleet significantly reduces the risk of early obsolescence and reduces operating costs relative to peers.
The Outcome
From the April 2025 entry, d’Amico has returned approximately +125% in total return (share price gain plus dividends received). The position remains open in the TVISIL model portfolio and is fully documented with entry date, dividends, current price, and total return percentage.
The Lesson
d’Amico shows that when a high-quality, cash-generative business in a cyclical industry is priced as if the cycle will never turn, the potential returns can be substantial. TVISIL’s process finds these situations not by predicting cycles, but by applying consistent valuation and quality filters across global markets every month.
See the full TVISIL portfolio including this open position at www.valueinvestingsage.com/pricing. Plans from $20 trial to $549/year Diamond.
TVISIL is an educational model portfolio. Not personalised investment advice. All investing involves risk. Past performance does not guarantee future results.