D’Amico International Shipping (DIS), part of Italy’s d’Amico Group, has entered into an agreement through its operating subsidiary d’Amico Tankers Limited Ireland, with Korea’s Hyundai MIPO Dockyard for the construction and purchase of two new long-range modern product tankers, the international marine transportation company has said in a statement.
The double-hull vessels will be built by Hyundai Vinashin Shipyard in Vietnam and are expected to be delivered in mid-2017, for a total cost of about $44 million each. They will be built to the the latest ‘eco’ design with maximum fuel efficiency and raise to 10 the number of eco design product tanker shipbuilding contracts held by DIS. “I am very satisfied to announce this further investment made by our company on ‘eco’ product tanker vessels,” Chief Executive Officer Marco Fiori said. “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,” he continued.
“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,” Fiori concluded.