World News
Eco Tankers "Set to be the Future of our Industry"
D'Amico Tankers Limited, a subsidiary of European shipping company d'Amico International Shipping S.A. (DIS) [Borsa Italiana: DIS], says it has ordered two "eco design" product tanker newbuilds, saying such vessels "are set to be the future of our industry."
The vessels promise fuel savings of six to seven tonnes per day compared with comparable existing tankers.
The orders bring DIS to six new vessel contracts within the past five months, reflecting its growth strategy and commitment to the use of environmentally friendly vessels, the company said.
The 50,000 dead weight tonne (dwt) medium range tankers, which cost $32 million each, are scheduled to be delivered from Hyundai Mipo Dockard Co. Ltd. in Korea between late 2014 and early 2015.
"This clearly reaffirms DIS's strategy to modernize its fleet through new buildings with eco innovative design," said DIS CEO Marco Fiori.
"We strongly believe these types of vessels are set to be the future of our industry and their estimated timing of delivery perfectly matches our positive market outlook on the medium/long term."
The deal also gives DIS an option to order two more ships at "an attractive price," according to Fiori.
The newly ordered ships feature fuel-saving hull shapes and propulsion efficiency features, with an Energy Design Index (EEDI) already "well within" the International Maritime Organisation (IMO)'s phase III requirements for vessels built after 2025.
A number of companies, including Scorpio Tankers, have made recent investments in eco tankers, but some in the industry question whether the vessels are good bets given the current oversupply of ships.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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