d’Amico to expand fleet with two more ECO Design MR product tankers

18 December 2012 (Last Updated December 18th, 2012 18:30)

South Korea's Hyundai Mipo Dockyard (HMD) has won a $64m contract from d'Amico Tankers to build two 50,000dwt ECO design product/chemical tankers.

South Korea’s Hyundai Mipo Dockyard (HMD) has won a $64m contract from d’Amico Tankers 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 to be delivered between 2014 and 2015 to d’Amico Tankers, a subsidiary of d’Amico International Shipping (DIS).

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

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, which will use 31.5% less energy than the current IMO reference line.

The latest order for two new MR vessels follows d’Amico’s July 2012 order for two ECO 40 Shallowmax vessels.

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

"Attached to this transaction is also the option to order a further two ships at an attractive price," Fiori said.

"DIS intends to continue to expand its fleet through accretive acquisitions with the goal to continue to manage our capital structure and chartering mix in an effort to provide our investors with the optimal risk-return balance."

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

d’Amico Tankers currently manages a fleet of 39 double-hull MR and Handysize product tankers, with an average age of 6.2 years.