D’Amico postpones LR1 tanker delivery

D’Amico International Shipping has reached an agreement with South Korean shipbuilder Hyundai Mipo Dockyard to delay the delivery of its last LR1 newbuilding under construction to September 2019.

“This was a win-win solution for both the parties since the shipyard had more time to install the scrubber on the new vessel and for d’Amico International Shipping was not particularly urgent to have the new ship in a moment where the market was quite weak,” the company said.

 The postponement comes after d’Amico Tankers delayed the delivery of LR1 product tanker Cielo di Houston at Hyundai Vinashin Shipyard in Vietnam, taking delivery in January 2019. The vessel was sold for $38.6m and bareboat chartered back.

At the moment it is unknown if d’Amico is looking to finance their last newbuild in the same way before taking delivery.

Meanwhile, subsidiary d’Amico Dry has denied information circulated by shipbrokers reporting the sale of Medi Valencia for a price in excess of $12.5m. “The ship is not for sale” a spokesperson from d’Amico told Splash.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.
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