EMEA News
D'Amico Plans to Order More Eco-Ships
D'Amico International Shipping [Borsa Italiana: DIS] (DIS) of Italy expects to buy more fuel-saving newbuildings this quarter to capitalise on an improving product tanker market, according to a Lloyd's List article reprinted on DIS's website.
CEO Marco Fiori said the company will start selling older ships from its fleet later in the year to make room for the new, so called "eco-ships", arguing that secondhand prices will rise along with newbuilding costs later in the year.
"There's no hurry; we don't need the cash," he said.
The company sees balance between the global fleet and the supply of cargoes improving in coming years and expects more refined oil products to be shipped from new refineries coming online in the Middle East and Asia.
Fiori said earning are starting to show improvement.
"These spikes go back down, but every time the low is slightly higher than the previous low," he said.
"It's nice to be in the fresh air after so long underwater."
Fuel saving ships recently ordered by the company were said to be designed to save five to six tonnes of fuel per day while operating at 14 knots compared with older vessels, reducing daily operating costs by $2,000 to $4,000.
In December, DIS subsidiary d'Amico Tankers Limited announced that it had ordered two fuel-saving product tankers, bringing DIS to a total of six new vessel contracts in five months.
