Diamond S. Shipping was formed in Oct 2007 as a strategic partnership between First Reserve Corporation and Pecos Shipping, a company owned by shipping industry veteran Craig Stevenson, Jr.
In 2010, Diamond S entered into contracts with Korean shipyards to build eight Suezmax tankers and two LR2 tankers, with deliveries beginning in 2012.
In 2011, Diamond S purchased 30 MR product tankers from the Cido Shipping Group. To purchase the vessels, Diamond S expanded its shareholder base. This effort was led by world class investors W.L. Ross & Co which included China Investment Corporation, Fairfax Financial Holdings Limited, Morgan Creek Capital Management and PPM America Capital Partners.
Today the company operates 40 tankers with a mix of timecharter coverage and spot business.
Aug 1, 2011
Diamond S Shipping announced today that it has entered into a definitive agreement to acquire 30 medium-range refined product carriers to add to its fleet of ten tankers under construction in Korean shipyards.more >
June 25, 2010
DSS Holdings LP, the parent company of Diamond S Management LLC, announced subsidiaries of it 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.more >
June 20, 2010
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.more >