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Italy's VSL invests in two new eco-design ships

Italy's VSL invests in two new eco-design ships

 
Italy's VSL invests in two new eco-design ships

Giovedì 05 Giugno 2014, 17:00

03 Febbraio 2016, 05:05

(ANSA) - Genoa, June 5 - Italy's Venice Shipping and Logistics (VSL), a private equity operator specialized in shipping, has invested in its first two eco-design ships, expanding its fleet with the High Sun product tanker from Vietnam and the Giulia I dry-bulk carrier from China. The investment in Vietnam was forged in partnership with d'Amico International Shipping-DIS. The two ships are expected to reduce fuel consumption and cut CO2 emissions by an average 20-25% a day (with a fully loaded ship and a hull speed of 14 knots). With this operation, VSL - which only invests in the shipping sector - ''confirms its trust in this market and in particular the ability of eco-ship newbuildings to offer, compared to conventional ships, significant benefits in terms of performance, appeal to major international clients, as well as significant return on invested capital'', the company said. The two fuel-efficient ships will help to deal with an expected fuel price hike following more stringent sulfur emission standards in Emission Controlled Areas (ECA) and more commercial flexibility with access to rental contracts which are not always available for conventional ships. ''Our partnership with the d'Amico group enables us to control the highly competitive and performing international assets market'', said VSL managing director, Fabrizio Vettosi. The investment ''will enable us, in the middle- and long-term, to further develop our business and give value back to our investors, obtaining more advantageous rentals and creating possible capital gains'', he added. The d'Amico group also expressed satisfaction for the investment. ''Our group's engagement in VSL is continuing with great satisfaction and has been put into effect with these two new jewels, High Sun and Giulia I'', said Carlos di Mottola, a partner of VSL in charge of business development for the d'Amico group. ''Both projects show that VSL and d'Amico want to explore new frontiers, especially in terms of design and cooperation with shipyards as a result of the long and in-depth evaluation both of the expertise of partner builders and of the added value of eco-design ships'', he added. The medium-range product tanker High Sun with a 50,000 dwt, launched on May 22 this year by the Hyundai-Vinashin Shipyard, has a length of 183 meters and a beam of 32 meters. The Giulia I was built in Yangfan, in China, of 39,000 dwt with a length of 180 meters and a beam of 30 meters. ''As an advisory firm, we remain active in supporting banks and ship owners in financial restructuring processes'', concluded Vettosi. ''We also endeavor to assist players seeking to consolidate their presence on the market in specific niches, including cabotage and towing''.
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