Four Vessels Worth 1.2 Billion: Largest Private Shipbuilder Secures Additional Order from Italian Shipowner

Recently, Italian product tanker owner d’Amico International Shipping (DIS) announced the exercise of an option under its order with New Yangzijiang Shipbuilding, adding two more MR-type product tankers to the original order for a total of four.

DIS’s operating subsidiary, d’Amico Tankers, signed a 2+2 vessel construction contract with New Yangzijiang Shipbuilding in January of this year for 50,000-dwt MR2 product tankers, with the two option vessels now confirmed to be effective. Each newbuild is priced at approximately US$45.4 million, bringing the total value of all four vessels to US$181.6 million (roughly RMB 1.252 billion). The first two are scheduled for delivery in March and June 2029, respectively, while the two newly confirmed option vessels are slated for delivery in August and October 2029.

For reference, Clarkson’s data show that the current newbuilding price for a 47,000–51,000-dwt MR product tanker is approximately USD 49.5 million, unchanged from USD 49.5 million at the same time last year.

Meanwhile, DIS has also secured two additional option orders for vessels of the same design from New Yangzijiang Shipbuilding; although the prices have increased, these two option vessels will be confirmed as binding by the end of March.

This series of MR2 oil tankers will boast exceptionally high energy efficiency: at the design draft and with the engine operating at its continuous rated power, daily fuel consumption will be reduced by approximately 4 tonnes—a 17% decrease—compared with currently in-service, highly efficient and environmentally friendly MR2 designs. The new vessels will be built with a methanol-fuel-ready configuration and will be certified to operate on up to B100 biodiesel.

The latest order marks DIS’s accelerated rollout of its fleet renewal program, supporting the group’s strategic objective of maintaining a modern, fuel-efficient fleet. In addition to the order from New Yangzijiang Shipbuilding, DIS signed a 2+2 vessel contract in December last year with Guangzhou Shipyard International for 40,000-dwt MR1 product tankers, which forms an integral part of its long-term expansion strategy.

At the time, this order marked DIS’s return to the newbuilding market after nearly two years. The last time DIS placed a shipbuilding order was in April 2024, when the company placed an order with Yangzijiang Shipbuilding’s subsidiary, New Yangzijiang Shipbuilding, for two 75,000-dwt LR1 crude oil tankers and subsequently confirmed an option for an additional two vessels of the same type. All four newbuilds were scheduled for delivery in the second half of 2027.

According to available information, DIS currently operates a fleet of 29 product tankers, comprising six in-service MR1 tankers, 15 owned and two bareboat-chartered MR2 tankers, six owned LR1 tankers, as well as four LR1, two MR1, and four MR2 tankers under construction.

According to the annual report, Yangzijiang Shipbuilding secured a total of 60 new orders last year, with a combined value of approximately US$2.5 billion (about RMB 17.111 billion). These orders include 44 container vessels—9 of 1,100 TEU, 10 of 1,700 TEU, 5 of 1,800 TEU, 6 of 2,900 TEU, 4 of 3,000 TEU, 4 of 3,100 TEU, 2 of 4,300 TEU, 2 of 4,488 TEU, and 2 of 11,800 TEU—14 bulk carriers—8 of 71,000 dwt and 6 of 83,000 dwt—and 2 LPG carriers with a capacity of 40,000 cubic meters each.

As of December 31, 2025, the Group’s order book totals 245 vessels with a combined capacity of 8.59 million CGT, valued at approximately USD 22.39 billion (about RMB 153.243 billion), with the latest delivery scheduled for 2030. The order portfolio features a diversified mix of vessel types, including 130 container ships of various sizes—large, medium, and small—worth USD 16.06 billion; 49 bulk carriers valued at USD 1.94 billion; 26 gas carriers (LPG, VLAC, VLEC) totaling USD 2.36 billion; and 40 oil tankers worth USD 2.03 billion. Among these orders, green and clean-energy vessel types account for approximately 71% of the total order value.