d’Amico contracts Hyundai Mipo to build two ECO Design MR product tankers

14 March 2013 (Last Updated March 14th, 2013 18:30)

d'Amico Tankers, a subsidiary of d'Amico International Shipping (DIS), has awarded a $58m contract to South Korea's Hyundai Mipo Dockyard (HMD) to build two 50,000dwt ECO design product/chemical tankers.

D'amico

d’Amico Tankers, a subsidiary of d’Amico International Shipping (DIS), has awarded a $58m contract to South Korea’s Hyundai Mipo Dockyard (HMD) to build two 50,000dwt ECO design product/chemical tankers.

Both vessels will be built to the latest International Maritime Organization (IMO) II medium range (MR) design and are scheduled for delivery at the end of H1 2014.

The contract includes an option for two additional vessels under similar terms, to be exercised by April 2013.

Compared to the average consumption of the current MR fleet, the HMD design’s hull shape and propulsion efficiency are expected to provide average fuel savings of six to seven tonnes a day.

According to HMD, the new tankers will meet Energy Design Index (EEDI) under the IMO phase-in 3 requirements for vessels that are scheduled to be built after 1 January 2025, using 31.5% less energy than the existing IMO reference line.

The latest order follows d’Amico’s December 2012 order with HMD for two ECO 50,000dwt MR tankers, which are scheduled to be delivered between 2014 and 2015.

d’Amico International Shipping chief executive officer Marco Fiori said the new order represents the company’s eighth vessel order in the last six months and forms part of its plan to transform its fleet through newbuildings with eco-innovative design.

"These technical improvements will permit us to improve current t/c equivalent rate revenue by an amount of at least $3,000 per day," Fiori said. "DIS intends to renew its fleet through accretive acquisitions with a goal of continuing to manage the capital structure and chartering mix in an effort to provide our investors with the optimal risk, return balance."

Following delivery, the two new MR vessels will be the most advanced and efficient ships of their size in terms of speed, consumption and deadweight and draft ratios, said the company.

d’Amico Tankers currently manages a fleet of 38 double-hull MR and Handysize product tankers, with an average age of 6.4 years.


Image: Hyundai Mipo Dockyard will deliver the two 50,000dwt ECO design product/chemical tankers to d’Amico Tankers at the end of the first half of 2014. Photo:d’Amico International Shipping.