The Minister of State for the Marine, Mr John Browne, has welcomed a decision by international shipping group d'Amico Societa di Navigazione SpA to establish its European financial and management base in Ireland.
The company is part of the d'Amico Group, which has interests in telecommunications and shipping. It has a fleet of more than 65 vessels involved in transporting oil, chemical and dry bulk goods, and its tanker division is ranked among the world's top 10 in this sector.
The company has bases in Britain, Monaco, Singapore, Canada and South America, and has appointed Mr Peter Cahill as general manager of its Irish division.
Mr Glenn Murphy, director of the Irish Maritime Development Office (IMDO), said that the d' Amico decision was the result of the Government's strategy to develop Ireland as an international centre for shipping finance and strategic management services.
A special corporate tax regime for ship-owners and operators was introduced in 2002.
The new national maritime college, built under a public-private partnership, is due to be completed at Ringaskiddy, Co Cork, in October.
