China’s Yangfan Group Scores USD 134 Mln Shipbuilding Deal

Ireland-based d’Amico Dry, the fully owned subsidiary of the d’Amico group, has ordered six 40,000 dwt bulk carrier newbuildings, with options for further six vessels, from China’s Yangfan Group. The $134m deal, which values each handymax at $22.3m, has been financed through bank lending.

The new d’Amico vessels were designed by Deltamarin of Finland and optimised to d’Amico’s requirements, including being built with box-shaped holds. The Italian shipowning group also has the option to ask the shipyard to build the new vessels on a fully open hatch design.

d’Amico chief executive Cesare d’Amico said: “The new vessels will strengthen our position in the handysize market, which we feel has a great capacity for future growth, and also demonstrate our commitment to the environment by significantly reducing fuel consumption and exhaust emissions when compared with both existing vessels, and other newbuilding designs available. Given their characteristics, the vessels have also attracted strong interest from the financial world and, as a consequence, financing for the project has been offered by a number of European banks at very competitive pricing compared to today’s market terms.

At the Mare Forum Italy in Sorrento this week, Naples-based shipowner Giuseppe Bottiglieri said now was the right time to invest in ships. “At present there are just 157 bulk carrier newbuildings scheduled for delivery in 2014 and 17 in 2015, while the demolition trend is increasing,Mr Bottiglieri said. “I think the tonnage oversupply in the dry bulk market will reduce significantly in the next two years and the daily charter rate are expected to rise constantly in the mid-term.

Delivery is scheduled from mid-2014 from Yangfan’s Zhoushan shipyard.

Shipbuilding Tribune Staff, May 18, 2012; Image: deltamarin

Share this article

Follow World Maritime News

Posted on May 18, 2012

In Depth>

Events>

<< May 2015 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Port Finance International Mexico 2015

Given the successful gathering last June of our 1st Port Finance International Mexico & LATAM, PFI will be holding the 2nd Mexican & LATAM PFI Forum.

This conference is a meeting point to understand Mexicans ports current and future opportunities and find solutions to challenges.

Mexico’s port development and operations is currently thriving, with great opportunities of product and service provider companies to access high value opportunities.

Mexico’s Infrastructure investment has grown from 3% of GDP in 2000 to nearly 5% in 2012.

A National Program has been launched, devoting nearly £65 billion to help modernize and develop four leading ports, construct ten specialized terminals and grow Mexico’s cargo handling capacity by 60%.

There has been a £2.9 billion investment into expanding the port of Veracruz which will increase the port’s terminals from 18 to 28 and enhance its cargo capacity to 116 million tons.

More info

read more >

Basic Dry Dock Training

The course begins with the basics and safety concerns, and progresses through all phases of dry docking: preparation, docking, lay period…

read more >

IMPA Singapore

The event will have a total focus on maritime procurement, featuring a high-level conference, IMPA’s Developing Skills in Procurement…

read more >

Offshore Accommodation and Access

Asia’s ONLY Event on Offshore Accommodation

Offshore Accommodation and Access is the only event in Asia that provides you the key to find cutting-edge accommodation solutions for your offshore personnel. Get the latest outlook from key players as well as technical, commercial and operational perspectives that drive the market.

More info

Contact Details:
Email: register@ibcasia.com.sg
Telephone: +65 6508 2401
Fax: +65 6508 2407
Mail: IBC Asia (S) PTE LTD, 111 Somerset Road, TripleOne Somerset #10-06 Singapore 238164

read more >