d’Amico orders two more LR1 eco tankers

JUNE 9, 2015 — Luxembourg headquartered d’Amico International Shipping S.A. (DIS) reports that operating subsidiary d’Amico Tankers Limited, Ireland, is ordering two new Long Range (LR1 – 75,000 dwt) modern product tanker vessels from Hyundai Mipo Dockyard Co. They will be similar to two already on order from the shipbuilder and will be built by Hyundai Vinashin Shipyard, Vietnam.

With a price tag of about $44 million apiece, one is set for delivery second half 2017 and the other in first quarter 2018.

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

These orders bring d’Amico Tankers Limited ‘s tally of Eco design product tanker shipbuilding contracts to 12: four LR1, four MR and four Handysize. All are being built  at Hyundai Vinashin Shipyard.

“I’m glad to announce the exercise of our options to build two further LR1 vessels, in addition to the two units ordered in April,” said Marco Fiori, CEO of d’Amico International Shipping S.A. “This investment is fully in line with DIS’ strategy to modernize its fleet through newbuildings with eco innovative design and will also strengthen our presence in what I see as a very promising segment (LR1 – 75,000 dwt) within the product tanker market. In fact, 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 U.S. 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 Oil-majors and leading market players for these types of ships.”