D'Amico International Shipping will expand its fleet by acquiring the tanker ship Amfitrion and signing contracts for the construction of two additional tankers of the Eco Design Long Range category. These new ships will enhance the capabilities of its subsidiary, D'Amico Tankers. The construction contract, valued at $55.4 million each, was inked in April 2024 with the Chinese shipyard Jiangsu New Yangzi Shipbuilding. The two new vessels, each with a gross tonnage of 75,000 tons, are scheduled for delivery in September and November 2027.
Paolo D'Amico, President and CEO of D'Amico International Shipping, stated, "This agreement aligns with our strategic goal to maintain a highly modern fleet. Moreover, it will significantly strengthen our presence in the Long Range 1 segment, bringing our total to eight units of this type. I believe this market segment will continue to offer attractive returns in the coming years. The product tanker orderbook remains relatively small, particularly for this type of ship. Additionally, the ongoing structural shift in global refining capacity away from major consumption areas will continue to drive demand measured in ton-mile and should further benefit the Long Range 1 ships, which are already in high demand from our clients."
The third ship, named Amfitrion, was constructed in 2017 by Samsung Heavy Industries Ningbo and has a gross tonnage of 50,000 tons. It was purchased for $43.5 million. This acquisition is part of D'Amico Tankers' fleet modernization strategy, following the sale of their oldest vessel, Glenda Melanie.
Currently, the D'Amico International Shipping fleet includes 34 double-hull tanker ships (MR, Handysize, and LR1), with 26 owned vessels, 5 chartered vessels, and 3 bareboat chartered vessels. The average age of the owned and bareboat chartered vessels is 8.8 years, underscoring the company's commitment to modern and efficient maritime transport solutions.
