d’Amico International Shipping S.A. (listed in Italy at Borsa Italiana: DIS), is an international marine transportation company, which operates in the product tankers market, mainly through its operating subsidiary d’Amico Tankers Limited (Ireland), incorporated in Ireland in 2001.
The origins of the business trace back to 1936, when the d'Amico family founded a shipping company in Salerno, Italy. In 1952, d'Amico Società di Navigazione S.p.A., the holding company of the d'Amico Group, was incorporated in Rome and in the same year the first tanker vessel was acquired.
During the 1960s the d'Amico Group started to operate in the product tankers market and throughout the following decades continued to develop and expand its position in the segment. In 1987, the Group ordered its first two MR newbuildings, and in 1997 three additional MR newbuildings. In 2000, the d'Amico Group implemented a plan to further expand its product tankers fleet, focusing on MRs and handysize vessels. In accordance with this expansion plan, during the five-year period 2002-2006, the fleet increased from 7.4 to 35.9 vessels.
In more recent times, strategic alliances with other major international companies, involved in the shipping business, were also established, allowing d’Amico to reinforce its worldwide presence:
- High Pool Tankers Limited (2003) – a pool with Nissho Shipping Co. Limited (Japan) and Mitsubishi Corporation.
- GLENDA International Management Limited (2005) – a commercial agreement with Glencore/ST Shipping to trade vessels under a single brand name, ‘GLENDA’
In addition to the pools and commercial agreements, DIS also established two joint ventures for the combined control of vessels, with key strategic partners. The first one, DM Shipping Ltd, allows d’Amico International Shipping to broaden the scope of its relationship with the Mitsubishi Group. The other joint venture, GLENDA International Shipping Ltd, with the Glencore Group, further developing the strong commercial relationships with Glencore Group.
During these years, the d’Amico Group, developed and increased also its marketing and commercial footprint, by opening new offices in Singapore, in 2001, and in London, in 2002.