Ardmore Shipping Splurge Continues with Order for Four 25,000dwt Newbuilds

22nd August 2013

#ArdmoreExpands – Once again, Ardmore Shipping Group has announced contracts for further newbuilds, with four 25,000 Dwt IMO 2 eco-design product & chemical tankers.

The contract order has been placed with Fukuoka Shipbuilding Co. Ltd., Japan ("Fukuoka") for a total price of approximately $118,000,000.

As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Ardmore expects to take delivery of the contracted vessels between fourth quarter 2014 and fourth quarter 2015.

Including these four newbuildings, Ardmore has exercised options or signed newbuilding contracts for a total of eight vessels since pricing its IPO on July 31, 2013, increasing the Company's fleet to 20 vessels consisting of eight vessels in operation and 12 newbuildings on order.

An example of this rapidly expanding fleet programme was an order for a pair of 37,000dwt chemical tankers which were only announced last week.

Published in Ports & Shipping

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Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals.

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