d’Amico To Build Four Chemical Tankers

John Konrad
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October 25, 2013

Luxembourg – October 24th, 2013 – d’Amico International Shipping S.A. (Borsa Italiana: DIS), an international marine transportation company, operating in the product tanker market, announced that its operating subsidiary d’Amico Tankers Limited (Ireland) has entered today in a shipbuilding contract for the purchase of four (4) additional product chemical tanker vessels (39,000 dwt Handysize) at the price of US$ 31.2 million/each, with Hyundai Mipo Dockyard Co. Ltd. – Korea – at their HVS facility in Vietnam, for a total investment amount of US$ 126 million.

The new vessels are expected to be delivered on November, 2015 – April, July, and October, 2016.

This contract includes an option to upgrade the vessels to ice class IB at an extra cost of US$ 963,000 per vessel.

As of today the fleet controlled by d’Amico Tankers Limited includes a total of 37,5 double-hull Medium Range (MR) and Handysize product tankers, with an average age of about 6.1 years. The Company has a total of 12 newbuilding product tanker agreements, which include n. 6 MR and n 6 Handysize vessels, at Hyundai Mipo Dockyard Co. Ltd. In addition to this, DIS has n.1 vessel on order in JV with Venice Shipping and Logistics S.p.A.

Marco Fiori, Chief Executive Officer of d’Amico International Shipping S.A. stated: “I am delighted to announce the deal of 4 new additional vessels in continuity with the DIS strategies to innovate its flees and increase its efficiency through new eco-vessels, in order to represent one of the most modern and advanced fleet in the MR market, to better fulfill the expectations of our Clients. I strongly believe that this kind of vessels represent the future of our industry”.

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