Diamond S Shipping is poised to start renewing its MR product tanker fleet in the coming months, chief executive Craig Stevenson has confirmed.
New York-listed Diamond’s 52-strong fleet has an average age of 10 years, with five ships exceeding 13 years and seven over 12 years old.
“We do look at the age profile, and at some point in time, we have to start addressing the age profile on the product side of the business,” Stevenson told analysts on the Connecticut-based company’s quarterly earnings call.
