#NEWBUILD BULKER ORDER– Irish based d'Amico Dry with offices in Dublin, has ordered six 40,000 dwt bulk carrier newbuildings, with options for further six vessels, from China's Yangfan Group.

The company which is a fully owned subsidiary of the d'Amico group, has made the $134m deal, which values each handymax at $22.3m. The order for the new ships has been financed through bank lending.

Chief executive of d'Amico 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.

He added "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."

The newbuildings were designed by Deltamarin of Finland and optimised to meet d'Amico's requirements, including construction of box-shaped holds. Delivery for the new vessels is scheduled from mid-2014 from the Yangfan's Zhoushan shipyard. The Italian shipowning group also has the option from the shipyard to build the new vessels but to a fully open hatch design.

D'Amico Tankers Ltd, control either through ownership or charter arrangements a modern, high-tech and double-hulled fleet ranging from 35,000 to 52,000 deadweight tons. These product tankers operate in a sector that typically carry refined petroleum products, chemical and vegetable oils.

The company has a long tradition of family enterprise and operates worldwide with offices also in London, Monaco and Singapore.