DIS orders two more LR1s from Hyundai Mipo

The ships are to be built at Hyundai Vinashin Shipyard in Vietnam and are due for delivery in late 2017 and early 2018. The orders follow a similar $88m order in late April.

The latest orders brings the company's orderbook to 12 vessels, each to be built at Hyundai Vinashin, incuding four LR1s, four MRs and four handysize vessels ith delivery dates from this year through to 2018.

Marco Fiori, DIS ceo , commented: ’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’.