d’Amico International Shipping subsidiary, d'Amico Tankers Limited has signed a contract for the construction and sale of two new long-range eco-design tankers with Hyundai MIPO Dockyard in Korea.
The vessels will be built by Vinashin Shipyard in Vietnam at a total cost of $44 million each, and see d’Amico entering a new segment within the product tanker market.
Marco Fiori, CEO of d'Amico International Shipping said: "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 oil majors and leading market players for these types of ships’.
Built to the latest ECO design, the double-hull new buildings have the highest fuel efficiency and have attained an Energy Design Index (EEDI) which falls within the IMO phase-in 2 requirements.
The new builds are expected to be delivered in 2017. The company has a total of 10 eco design product tanker shipbuilding contracts, including two long range, four mid range and four handy size vessels under construction and expected to be delivered between 2015 and 2017.