2000 .. 2008 Landmark Events
During the last decade, DTM has taken significant steps in renewing its fleet. In the years 2000 - 2011, a total of 54 older tankers were sold, while the company concurrently embarked on a dynamic new building program with the signing of several contracts for VLCCs, Suezmax, Aframax, Coated and Crude Oil Panamax tankers.
DTM's excellent operations and safety performance earned the company the "Tanker Company of the Year" award in 2005 by Lloyd's List, and was described as "epitomizing the modernization of the Greek tanker industry".
DTM considers the new building contracts an integral part of its fleet renewal strategy given the age profile of the world tanker fleet and the increasing emphasis on modern double hull vessels. DTM's New building Team has built an expertise in vessels' construction and building process with knowledgeable supervision teams in all yards where DTM is building new vessels. Continuous research and development is in place in order to improve new building vessels' design, specifications, speed and consumption levels and list of extras. In this way, DTM has achieved a competitive advantage among similar vessels of the world fleet. The new building program also aims to capitalize on the trends taking place within the global shipping and energy markets:
- Ice Class vessels will benefit from increased sourcing of crude oil from the Baltic and North Sea regions;
- The increase in demand of refined products in the United States, coupled with the restrictions in refinery capacity will lead to long haul shipments of refined products from distant sources;
- The rapid industrialization of emerging economies and the upcoming phase-out of tankers will give companies with a modern fleet a significant advantage.
- Installation of heating coils on VLCC vessels to meet the demand of fuel oil transportation and storage in bigger cargo volumes.