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>

<< Aug 2015 >>
MTWTFSS
27 28 29 30 31 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 1 2 3 4 5 6

16th Annual FPSO World Congress 2015

This year, we will bring together more than 750 key stakeholders from oil companies, vessel owners, shipyards, financial organisations…

read more >

Marintec South America

Marintec – South American Maritime Exhibition for Shipbuilding, Platform and Maintenance

As part of the UBM/Seatrade portfolio, Marintec South America is a trade-show for anyone who wants to stay ahead in the maritime market.

Why visit?

  • Be inspired by thousands of products and services on show
  • Find out what´s new in the market by chatting to suppliers and peers
  • Come away with genuine solutions, exciting ideas, and a fresh outlook
  • Pick up new ideas from the experts of industry through our seminar sessions and technical presentation

Why Exhibit in Rio de Janeiro/ Brazil?

  • Rio de Janeiro is the headquarter of Petrobras and its mains shipyards / ship owners
  • Rio de Janeiro is an international reference center for training of professionals for the offshore oil and gas industry
  • Brazil produces over 2 million barrels of oil per day and the offshore production will double this by 2020
  • The Brazilian shipbuilding industry has been grown 19,5% per year since 2000
  • Investments in the industry should exceed BRL 200 billion before 2020
  • The oil and gas industry reached about 12% of the total Brazilian GDP and may reach 20% by 2020
  • The offshore exploration will move R$ 3.7 trillion over the next 30 years and will generate 87 million jobs
  • Petrobras’ total pre-salt needs estimate: 97 platforms, 510 support vessels and 140 oil tankers

Read more about the conference here.

read more >

Salvage & Wreck Asia 2014

At Asia’s only specialist salvage and wreck removal conference, delegates heard from industry leaders on topics including…

read more >

PIANC SMART Rivers Conference

The SMART Rivers Conference is a biennal forum bringing together those involved in river transport form developing and developed countries…

read more >