D’Amico orders two LR1 product tankers from Hyundai Mipo

London: D’Amico Tankers (Ireland) has ordered two 75,000-dwt eco-LR1 product tankers at Hyundai Mipo at a price of $44m each.

The company’s entry into the LR1 tanker market was first mooted in an interview with Splash’s sister publication Maritime CEO earlier this month.

The vessels will be built in Vietnam by Vinashin Shipyard; delivery is expected in mid-2017, parent company D’Amico International said today.

“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,” Marco Fiori (pictured), CEO of d’Amico International Shipping, said today.

“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.”

The two tankers will be built to a fuel-efficient specification, and an energy efficiency design index (EEDI) rating that D’Amico says is 25% below the current IMO reference line and well within the IMO phase-in II requirements for vessels built before 2024.

D’Amico Tankers (Ireland)  currently operates three 50,000-dwt MR chemical/product tankers, all built in 2014.

At the start of April, D’Amico Tankers Limited (Ireland) fixed three-year timecharters for three of its MR product tanker newbuildings to an unnamed oil major.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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