d’Amico Delays Delivery of LR1 Tankers

Photo:  d’Amico ​Società di Navigazione SpA

By Aiswarya Lakshmi

Tanker shipping company d'Amico Tankers agreed with
Hyundai Mipo Dockyard Co.Ltd. - South Korea to postpone the
delivery of its first newbuilding LR1 (Long Range - 75,000
dwt)from April 2017 to October 2017.

This agreement follows a specific request of an oil major and a
key customer of the Company, which will take the vessel on a 18
month TC contract upon her delivery from Hyundai Vinashin
Shipyard Co. Ltd. - Vietnam.

At the same time, the estimated delivery dates of the remaining 5
LR1s under construction at Hyundai Vinashin Shipyard Co. Ltd. -
Vietnam, have also been slightly delayed by approximately 2
months compared to the original schedule.

Meanwhile, M/T High Challenge, an 'Eco' new-building MR (Medium
Range - 50,000 dwt) product tanker built by Hyundai Mipo Dockyard
Co. Ltd. - South Korea at their Hyundai Vinashin Shipyard Co.
Ltd. - Vietnam, was delivered to the Company.

In January 2017, d'Amico Tankers sold MT High Endurance and MT
High Endeavour, two 46,992 dwt medium-range product tanker
vessels, built in 2004 by STX, South Korea, to Sea World Tankers
a client of Sea World Management SAM, for a consideration of US$
13.5 million each.

At the same time, d'Amico Tankers will maintain the commercial
employment of the Vessels having also concluded with the Buyer a
4 years time charter agreement at an attractive rate.

Mar 2, 2017

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