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IR News


Announcement of the order of two additional LR1 newbuilding vessels

April 26, 2024

Luxembourg – April 26th, 2024 – d’Amico International Shipping S.A. (Borsa Italiana: DIS.IM and OTCQX Best Market: DMCOF) (the “Company” or “DIS”), an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d’Amico Tankers D.A.C. (Ireland) (“d’Amico Tankers”), has signed a shipbuilding contract with Jiangsu New Yangzi Shipbuilding Co., China, for the purchase of two (2) additional new Long Range (LR1 – 75,000 DWT) product tanker vessels at a contract price of US$ 56.2 million each. These new very efficient vessels are expected to be delivered to us in July and December 2027, respectively.

As of today, DIS’ fleet comprises 34 double-hulled product tankers (MR, Handysize and LR1, of which 26 owned, 5 chartered-in and 3 bareboat chartered-in) with an average age of about 8.8 years for its owned and bareboat chartered-in vessels.

Carlos Balestra di Mottola, Chief Executive Officer of d’Amico International Shipping, stated:

“Following our announcement on April 17th regarding the order of two newbuilding LR1s, I am glad to announce today that we have reached an agreement with the same yard to construct two additional LR1 'Eco' product tanker vessels of the same type. As previously stated, these ships are highly efficient and environmentally friendly, aligning with our long-term objective of maintaining a thoroughly modern and 'Eco' fleet. Moreover, from a commercial perspective, I see significant potential in this sector of the market. Therefore, I am pleased to reinforce DIS' presence in the LR1 segment, bringing our total fleet to 10 modern vessels. It's worth emphasizing that the LR1 sector stands to benefit from a low orderbook, combined with the ongoing secular shift of world refining capacity away from certain key consuming regions. This trend will further bolster ton-mile demand.”


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