Rome: Today sees the launch of the latest issue of Maritime CEO magazine. On the cover are the cousins who control Italy’s foremost shipping line – Paolo and Cesare d’Amico.
As chairman of the 63-year-old firm Paolo d’Amico has been working at the line since the 1970s. In that time he has seen many shipping downturns, which is why he is able to be sanguine about today’s difficult operating conditions.
The company is made of a dry bulk division, a Milan-listed tanker division as well as a number of shipping service providers including port agency and shipmanagement.
Taking a new step in its Asia-oriented business strategy d’Amico is launching a new pool of supramax bulk carriers as detailed on this site two weeks ago.
Meanwhile, on the tanker front, the company is looking at making a foray into LR product tankers.
Paolo d’Amico tells Maritime CEO he is confident of decent returns for the company’s tanker division. “Even with the present complex economic situation, d’Amico International Shipping, our tanker divison, has a favorable outlook for the future and confirms its long-term investment plan that will lead our company to have in 2017 one of the youngest fleets in the world”.
The gregarious owner reckons the tanker market remains volatile, but he is hopeful the past few months of solid earnings will continue later in the year after the upcoming traditional seasonal decline.
With the most recent time charter-in contracts signed, d’Amico International Shipping is now among the top five tanker operators in the world in terms of the number of vessels operated. As of today the fleet is made up by 53 tankers, but the target is to reach 60 soon.
D’Amico is one of more than 25 shipowners interviewed in the latest issue of the magazine. Elsewhere, readers can get expert analysis of the markets from Maritime CEO’s unrivalled line up of writers, while towards the back of the issue is the regular recreational section including gadgets, wine, travel, golf and yachting, the latter with guest writer Tim Huxley from Wah Kwong highlighting the wonders of Hong Kong’s most southerly island, Po Toi.
The 52-page magazine will be distributed at the upcoming Singapore Maritime Week.