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d’Amico Orders MR1 Product Tanker Newbuilds in China
Italian product tanker owner d’Amico International Shipping (DIS) has taken another step in its fleet renewal strategy, placing a newbuilding order in China for modern MR1 product tankers designed to deliver higher efficiency and lower emissions.
DIS confirmed that its operating subsidiary, d’Amico Tankers, has signed firm contracts with Guangzhou Shipyard International (GSI) for two 40,000 dwt MR1 vessels, priced at $43.2m each. The ships are scheduled for delivery in April and July 2029, with options in place for up to two additional sister vessels, exercisable within three months.
Focus on Fuel Efficiency and Future Fuels
According to chief executive Carlos di Mottola, the new GSI-built vessels will be the most fuel-efficient MR1s in d’Amico’s fleet. At design draft, they are expected to consume around four tonnes per day less fuel than the company’s existing eco MR1 units, while offering approximately 4,000 cubic metres more cargo capacity.
The ships will be methanol-ready, certified to operate on biofuels, equipped for shore power connections, and designed with enhanced cybersecurity resilience, reflecting growing regulatory and charterer requirements in global tanker trades.
Strengthening Sea Freight Operations
The newbuildings will join a fleet of 29 double-hulled product tankers, covering the MR, handysize and LR1 segments. Of these, 27 vessels are owned and two are on bareboat charter, with an average fleet age of about 9.5 years.
DIS said the investment aligns with its long-term approach to maintaining a competitive and environmentally efficient sea freight offering, particularly in refined product trades where fuel efficiency, cargo flexibility and emissions performance are increasingly decisive.
Market Conditions Support New Orders
The approximately $86.4m investment follows the disposal of the company’s four oldest vessels over the past two years. Di Mottola pointed to a thin global MR1 orderbook, an ageing world fleet and steady charterer demand as key drivers behind the decision to return to the yards.
In parallel, d’Amico continues to expand in larger segments. The Milan- and OTCQX-listed owner already has four LR1 newbuildings on order at Jiangsu New Yangzi Shipbuilding, placed in 2024 and scheduled for delivery in 2027, further underlining its commitment to systematic fleet renewal.
