D’Amico places order for two eco-design LR1 product tankers
D’Amico Tankers Limited - Ireland, an operating subsidiary of d’Amico International Shipping S.A. (Borsa Italiana: DIS), an international marine transportation company operating in the product tanker market, 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 Group said in a press release.
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’.
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”.
