In this episode of Capital Link’s Trending News Podcast, Mr. Carlos Balestra di Mottola, CEO of d'Amico International Shipping S.A. (Borsa Italiana: DIS) (OTCQX: DMCOF), joins Capital Link for a discussion following the company's first quarter 2026 earnings report. Mr. Balestra di Mottola explained that d'Amico's strong Q1 performance was mainly market-driven, with the company raising its dividend payout ratio to 55% from 40% the previous year and likely to maintain a similar generous payout ratio also out of its 2026 results. He also highlighted the Company’s ongoing fleet renewal program, under which five of its six oldest non-eco vessels have been divested and 10 newbuildings have been ordered, comprising four LR1 tankers and six MR tankers, representing a total investment of around $512 million. Since the webinar, the Company announced the sale of its last non-eco vessel. The discussion also addressed the growing importance of fleet quality and operational efficiency amid a persistently high bunker price environment and a regulatory environment which will increasingly penalize polluting vessels, with the Company's new MR2 tankers expected to achieve fuel savings of approximately 17% compared to its already efficient existing vessels. Regarding market fundamentals, tanker markets continue to be influenced by geopolitical developments, particularly ongoing disruptions in the Middle East. Nevertheless, underlying supply-demand dynamics remain supportive and continue to provide a solid foundation for the sector. The CEO noted that d'Amico has secured approximately 50% contract coverage for the second half of the year and confirmed that none of the Company's vessels are currently operating within the Persian Gulf. Looking ahead, he identified the reopening of the Strait of Hormuz as a key catalyst for the next leg up in the market, noting that substantial destocking occurred during the conflict and as a result, importing countries will likely try to rebuild stocks to levels higher than pre-conflict. The full webcast can be viewed here: https://www.youtube.com/watch?v=tcu8fG42F3w&t=283s Higher Dividends Take Priority Over Buybacks Commenting on the company’s stronger first quarter relative to the corresponding period last year, the CEO emphasized that the improvement was not solely tied to developments surrounding Iran. Freight markets have been improving steadily since reaching a low point in the first quarter of 2025. He disclosed that most of the company’s Q1 2026 employment had already been fixed prior to the onset of the conflict on February 28, indicating that the earnings improvement was supported by broader market fundamentals.