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June 25, 2010

DSS Holdings on tanker newbuild spree

DSS Holdings LP, the parent company of Greenwich, Connecticut, headquartered Diamond S Management LLC, says that subsidiaries have entered into shipbuilding contracts to purchase 10 ships.

The contracts are with two prominent Korean shipyards for the construction of eight Suezmax tankers and two LR2 tankers.

Delivery of the tankers is expected to occur in 2011 and 2012.

"We are very pleased with this opportunity to order high quality tankers at a very attractive point in the shipping cycle," said Craig H. Stevenson Jr., President & CEO of Diamond S Management LLC.

DSS Holdings LP is a partnership formed in October 2007 between First Reserve Fund XII, L.P. and Mr. Stevenson, the former Chairman of OMI Corporation. The partnership was formed to create an energy focused shipping company.


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