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d'Amico moves into LR1 sector with $88m order at Hyundai Mipo

d'Amico moves into LR1 sector with $88m order at Hyundai Mipo
d’Amico International Shipping (DIS) is entering the LR1 sector of the product tanker market with an order for two vessels at Hyundai Mipo Dockyard (HMD).

The Italian-listed shipping firm is paying $44m apiece for the 75,000 dwt product tankers, which will be delivered in mid-2017 by HMD’s joint venture yard Hyundai Vinashin Shipyard in Vietnam.

DIS currently operates in the handysize and MR segments and explaining the move ceo Marco Fiori said: “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.

“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.”