One of the world’s leading maritime transport groups, d’Amico’s core business is the management and operation of dry cargo vessels and clean product tankers and the provision of international shipping services. d’Amico established offices in Ireland in 2004 and have quadrupled in size since their initial set up, running commercial and financial functions from Ireland.
"We came here for the tonnage tax regime and found a lot more"
d’Amico originally set up in Ireland coming under the Irish tonnage tax regime in 2004. d’Amico have signicifantly grown their presence in Ireland since that time and are now growing their fleet and making further investments in eco-friendly ships.
"Ireland’s regime is still the most favourable tonnage tax regime in Europe which is very important when you have a growing fleet"
Time wise d’Amico have found that they are perfectly positioned to cover global operations from Dublin, allowing them to provide a 24/7 service from here. In addition operating in English speaking country has advantages for shipping companies.
“In Dublin, we are on the edge of the Atlantic, we are close to London. We can deal with Singapore in the morning and still deal with the Atlantic side of business in the afternoon”
The regulatory framework is here in Ireland to deal with and support shipping businesses. There is significant support from government and Irish cabinet Ministers have met with d’Amico’s senior executives on multiple occasions during their time in Ireland. There is a genuine interest and appetite to grow and support the maritime industry here.
“The IMDO worked to help bring d’Amico into Ireland, this relationship was very important to ensure d’Amico’s presence became real in Ireland. That support continued from the IMDO and allowed d’Amico to sustain and grow business within Ireland”
d’Amico has been able to capitalize on the highly skilled workforce available in Ireland and to continue to generate more ideas and take in more of the group operations in Ireland.
“The people are the most important asset for d’Amico and represent real value, so that’s what we focus on”
Ireland has a world leading National Maritime College and increasingly third level institutions across the country are offering maritime related modules within degree courses, ensuring the future availability of maritime expertise.
“We are committed to building and increasing the fleet, we are on an aggressive purchase programme now, which will go on to 2018 or 2019. Stability is one of the most important benefits of doing business in Ireland for our company”
The political environment in Ireland is historically stable. Equally the tax environment for doing business is both certain and stable, there is no history in Ireland of retrospectively applying taxation. These elements make Ireland a safe choice for companies operating in a sector which is often exposed to volatile market conditions.