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d’Amico orders duo of 'Eco' Long Range product tankers

d’Amico International Shipping S.A., an international marine transportation company operating in the product tanker market, announces that it’s operating subsidiary d’Amico Tankers Limited - Ireland, entered into an agreement for the construction and sale of two new Long Range (LR1 – 75,000 DWT) modern product tanker vessels with Hyundai MIPO Dockyard Co. Ltd – Korea. These vessels will be built by Vinashin Shipyard Co. Ltd – Vietnam and are expected to be delivered mid 2017, for a total consideration of about US$ 44.0 million each.

The above two double‐hull newbuildings are the latest ECO design vessels with the highest fuel efficiency. The vessels will have an attained Energy Design Index (EEDI) falling already well within the IMO phase-in 2 requirements due for vessels to be built before 31st December 2024, being of 25% lower than the current IMO reference line.

DIS fleet includes 52.8 double-hull product tankers (MR and Handysize) with an average age of about 7.3 years (of which 23.3 owned vessels and 29.5 chartered-in vessels). At the same time, DIS has currently a total of 10 new ‘Eco design’ product tanker shipbuilding contracts, which include 2 LR, 4 MR and 4 Handysize vessels under construction at Hyundai Vinashin Shipyard Co. Ltd and all expected to be delivered between 2015 and 2017.


Marco Fiori, Chief Executive Officer of d’Amico International Shipping S.A., stated:

’I am very satisfied to announce this further investment made by our Company on ECO product tanker vessels. Thanks to this deal, DIS will enter the LR1 (Long Range – 75,000 dwt) segment within the product tanker market. The trend of our industry is pointing towards an expansion of the tonne/mile demand, following the concentration of the world refining capacity in the US and in the Middle and Far East. In this context, I believe LR1s, with their larger cargo capacity, will be in great demand in the years to come, thanks to their ability to carry larger quantities on the same distances. In fact, we are actually seeing a constantly growing demand from Oilmajors and leading market players for these types of ships’.


Source: d'Amico International Shipping

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