Displaying items by tag: Ardmore Shipping
#ShippingSnippets - A 183m tanker from Ardmore Shipping Corporation based in Bermuda which also has a principle operating office located in Cork, made a call to Bantry Bay recently, writes Jehan Ashmore.
Ardmore Seaventure which at 49,999 dwt is on of the largest of the 27 strong fleet had anchored at the single point mooring (SPM) system at the Whiddy Island oil terminal. The ship had sailed from Ventspils, Latvia and has since headed to west Scotland. Until yesterday, the tanker had taken anchorage in Brodrick Bay, Isle of Arran (see 'Superyacht' posting).
Bantry Bay Terminals is operated by Zenith Energy, where the facility is also capable of handling VLCC’s and 30-meter draft vessels for the discharging of petroleum cargoes and other products.
Another short-sea trader from Arklow Shipping Nederland B.V., Arklow Bridge is no longer part of the Dutch division fleet. The 4,723gt vessel only built in 2011, is one of a pair of original 'B' class ships. The other sister Arklow Brook remains in service. They differ to a succession of ships from a varient of the 'B' series also built by Bodewes in the Netherlands.
Afloat has tracked down the 116m cargoship which has been renamed Aasvik, when berthed in Szczecin,Poland. Also a change of flag to Gibraltar has taken place.
An earlier 'Brook' had served ASL, having been custom built at Appledore Shipbuilders in 1990 followed by sister 'Bridge' the next year. The yard in Bidna, north Devon is now Babcock Marine & Technology's facility that is currently constructing the Naval Service's fourth OPV90 sister to be named L.E. George Bernard Shaw.
Cork based Mainport Group's seismic chase vessel, Mainport Kells has been at the Cork Dockyard facility. The 350grt vessel of only 37m built almost a decade ago at the Shin Yang yard Malaysia in 2008, had yesterday carried out sea trials beyond the harbour off Roches Point Lighthouse.
Corkonians would of seen Mainport Kells berthed previously at Cork city quays. A fleetmate the seismic survey vessel Mineport Pine remains there along North Custom Quay.
#Ardmore - Ardmore Shipping operators of chemical and product tankers (25,000 to 50,000dwt) has selected the UK P&I Club as its second P&I club.
On the back of the steady growth in the size of the Ardmore fleet which now stands at 27 ships, Ardmore decided to select a second club to provide Protection and Indemnity cover.
Commenting on the decision, Georgina Alderman, Ardmore’s Marine and Insurance Manager, said: “We looked at a number of options, including other UK based clubs, but we felt that the UK Club represented the best fit with our requirements, as well as with our ethos as an owner and operator committed to the highest standards of commercial and operational practices.
She added "We are looking forward to working together with the UK Club as an important partner for Ardmore Shipping.”
The UK Club will provide cover for three ships in Ardmore’s fleet.
As previously reported on Afloat, Jorge Lavin was recently appointed as the company's Financial Controller.
#Appointment - Ardmore Shipping Corporation which relocated its Principal Operating Office from Mahon outside Cork to the city centre in recent months, has appointed Jorge Lavin as the company's Financial Controller.
In his new position, Jorge is closely involved in helping Ardmore (operators of chemical and product tankers) to meet its financial reporting requirements. In addition to preparing internal reporting for Ardmore’s senior management team and Board of Directors, and managing the Ardmore’s cash management system.
Jorge trained as a Chartered Accountant with EY where he worked with multinational clients including Telefonica and Teekay. Following EY, he joined the Ferrovial Group, one of biggest construction companies in the world.
While at Ferrovial, he held roles in Group Financial Control and as Head of Financial Compliance and Group Financial Controller of Heathrow Airports Holdings (formerly BAA). He was most recently the Group Financial Controller of Ferrovial US. Jorge is also qualified in Financial Risk Management and is a Certified Public Accountant.
#NewbuildTanker- Ardmore Shipping Corporation this week have announced that its latest newbuild Ardmore Seafox, was delivered by SPP Shipbuilding Co Ltd.
The Sacheon shipyard in South Korea handed over the 49,999dwt product and chemical newbuild on 25th June 2015.
Ardmore Seafox increases the number of Ardmore vessels on the water to twenty with a total tonnage of 819,519 DWT.
She follows Ardmore Sealion which was also delivered bySPP Shipbuilding Co., Ltd but at their Goseong shipyard in Korea.
Technical management of the Ardmore Seafox will be provided by Univan Ship Management Ltd.
Commenting on her delivery, Mark Cameron, Ardmore Shipping's COO, said: "We are pleased to take delivery of this sister ship to the Ardmore Sealion and we extend our thanks to SPP Shipbuilding for their hard work and dedication throughout the build process. The addition of the Ardmore Seafox realises our continued commitment to incorporating high quality, modern and efficient vessels to our fleet.
As with the Ardmore Sealion, the Ardmore Seafox is a high quality eco-design Ardmore vessel, fully equipped with a variety of fuel-saving measures including Skysails technology and offering the highest standards of performance for our customers. With an average age of under four and a half years, the Ardmore fleet is among the youngest in the industry.
This is the second of four newbuild vessels to be delivered from SPP Shipbuilding this year and we look forward to continuing to work closely with SPP Shipbuilding on the remaining two vessels in the series due for delivery in the second half of this year. We wish the Ardmore Seafox and her crew safe seas and fair winds as she goes on to fulfill her long and successful service within the Ardmore fleet."
#ArdmoreNewbuild - Ardmore Sealion a 49,999dwt newbuild has been delivered to Ardmore Shipping from SPP Shipbuilding Co., Ltd at the Goseong shipyard in South Korea.
The launch of Ardmore Sealion classified as an IMO 3 product and chemical tanker took place on 26 May. She joins the Ardmore fleet, which now has nineteen vessels (see previous report on Afloat.ie). Technical management of the Ardmore Sealion will be provided by Univan Ship Management Ltd.
Commenting on her delivery, Mark Cameron, Ardmore Shipping's COO, said: "I would like to extend our sincere thanks to the Ardmore site team who have worked closely with the SPP Shipbuilding team in bringing the newbuilding process together to deliver a high quality vessel. We extend our thanks to SPP Shipbuilding for all of their hard work and commitment through the build process.
The Ardmore Sealion is another high quality eco-design Ardmore vessel and she is fully equipped with an array of fuel-saving measures, along with Skysails technology, to ensure the highest standards of performance for our customers.
This is our first newbuild vessel to be delivered from SPP Shipbuilding this year and we look forward to continuing our close working relationship with SPP Shipbuilding on the remaining three vessels in the series due for delivery throughout the year."
#ArdmoreNewTanker - Ardmore Cheyenne has been delivered from Fukuoka Shipyard in Nagasaki, Japan to Ardmore Shipping which has its financial headquarters in Mahon, Cork, writes Jehan Ashmore.
The 25,000 dwt newbuild which is classified as an IMO 2 product and chemical tanker will have its technical management provided by Thome Ship Management.
She is to join sister Ardmore Cherokee, into the increasingly expanding Ardmore fleet, which currently stands at eighteen vessels. The fleet total equates to a tonnage of 718,000dwt and with an average vessel age of five years.
Commenting on her delivery, Mark Cameron, Ardmore Shipping's CEO, said:"We're delighted to see the Ardmore Cheyenne join our fleet and we extend our sincere appreciation to everyone at Fukuoka Shipyard for their hard work, dedication and professionalism, along with all those involved in ensuring her successful delivery".
"She is our second newbuild vessel from Fukuoka this year, with the third and fourth in the series due to deliver in the coming months. Like the Ardmore Cherokee, the Ardmore Cheyenne has been designed and built to the very highest standards and equipped with an array of fuel-saving measures to ensure the highest standards of performance for our customers. We look forward to her successful service in Ardmore's fleet and we wish her crew safe seas and Godspeed."
In February, the tanker products company also took delivery of Ardmore Dauntless and Ardmore Defender from another yard in Asia, that time from the Hyundai Mipo Dockyard ("HMD") in South Korea. Each of these newbuilds are 37,000 dwt and likewise of 'Cheyenne' are IMO 2 product and chemical tankers.
As previously alluded both South Korean built newbuilds were delivered in February with the Ardmore Dauntless delivered first and followed by Ardmore Defender on the 27th of that month.
The eco-design quality and industry-leading levels of fuel efficiency and environmental performance sees the pair employed in the Navig8's Delta8 pool.
Ardmore Dauntless and the Ardmore Defender are each equipped with the SkySails' Performance Monitor voyage optimization system.
The system provides real-time data monitoring and analysis to enable the team on the bridge and onshore to constantly optimize the operational performance of the vessel.
#NewbuildTanker- Ardmore Cherokee, a 25,000dwt products and chemical tanker became the newest addition to Ardmore Shipping Corporation, following delivery from a Japanese shipyard.
The IMO II classed tanker was completed by Fukoaka Shipbuilding and she is the fifteenth vessel to join Ardmore’s fleet in service under the technical management of Thome Ship Management.
Like her fleetmates, Ardmore Cherokee, has been fitted with an array of fuel efficiency technologies, including the SkySails’ performance monitoring system, in order to deliver optimal operational performance.
Mark Cameron, COO of Ardmore Shipping, commented: “We’re delighted to have taken delivery of the Ardmore Cherokee. She has been designed and built to the very highest standards and we would like to thank all those involved in her successful delivery by Fukuoka Shipbuilding for their hard work and commitment. We wish her master and crew safe seas and look forward to her contribution to Ardmore’s continued growth.”
The corporation whose principle operating office based in Mahon Co. Cork as previously reported on Afloat.ie had reported a net profit of $117,000 for the three months ended September 30, 2014.
#Ports&ShippingReview: Over the last fortnight, Jehan Ashmore has reported on the shipping scene, where the European Sea Port Organisation (ESPO) re-elected Garcia-Milà as Chairman following a vote of the organisation's General Assembly held in Brussels.
Tanker fleet operator Ardmore Shipping Corporation announced financial results and a $20 million Share Repurchase Plan.
As referred above ESPO, has awarded this year the Slovenian port of Koper in recognition of its environmental work in creating a sustainable future for the port and its surroundings.
The name of the contractor for a €10m plus upgrade of the east jetty at Foynes will be announced shortly by Shannon Foynes Port Company.
Within a fortnight two separate incidents involving a pair of vessels berthed in Warrenpoint, took place at the Co. Down port. The first incident was an oil spill followed by an overheating cargo of animal feed.
A cargoship currently berthed in Dublin Port, Arklow Willow has a similar name to a former Irish Shipping Ltd vessel, the Irish Willow. The timing is apt given yesterday a staff reunion in the capital marked the 30th anniversay of the liquidation of Irish Shipping Ltd.
#ArdmoreShipping - Ardmore Shipping Corporation, operators of a modern products and chemical tanker fleet, has announced financial results for the three and nine months ended September 30, 2014 and a $20 million Share Repurchase Plan.
The corporation (whose principle operating office based in Mahon Co. Cork), has reported a net profit of $117,000 for the three months ended September 30, 2014, or 0.4 cents basic and diluted earnings per share. This compared to a net loss of $920,000, or 6.3 cents basic and diluted net loss per share, for the three months ended September 30, 2013.
Anthony Gurnee, the company's CEO commented: "We are very pleased to report a profitable third quarter which builds on our net profit reported in the second quarter of 2014. This was achieved in otherwise challenging market conditions and confirms the value of our flexible approach to vessel employment and cost management, which is generating strong cash-flow relative to the market. During the quarter, we continued to execute our growth strategy, taking delivery of two fuel-efficient MR product tankers.
Mr. Gurnee added "As we move into the fourth quarter and towards a winter market, we are encouraged by signs of significant charter market strengthening, with daily spot rates above $19,000 on average for key Atlantic and Pacific MR triangulations. We believe that Ardmore is well positioned to benefit from a strengthening market, through vessels engaged in the spot market, anticipated time charter renewals, and ten ships delivering throughout 2015 which are presently open or committed to a spot trading commercial arrangement with a major oil trader."
For much more to include a Summary of recent and third quarter 2014 events and in-depth operating details of fleet click HERE.
As previously reported on Afloat.ie, Ardmore are undergoing a fleet expansion programme.
According to Ardmore Shipping, the current fleet stands at 14 vessels in operation. They consist of five Eco-design MR product and chemical tankers and five Eco-mod product tankers and four Eco-mod product and chemical tankers.
In addition 10 Eco-design newbuilds under construction. Two of the vessels under construction, which were scheduled to be delivered in November / December 2014, are now expected for delivery in the first quarter of 2015. The first vessel of the pair is expected to be delivered in early January.
#ArdmoreAquireTankers - Ardmore Shipping Corporation have acquisition two second-hand 47,500 Dwt MR product tankers built in 2008 at Onomichi Dockyard Co. Ltd., Japan for a purchase price of $23m each.
The vessels are expected to deliver to Ardmore between July and October 2014 and are intended to be employed either in the spot market or on time charters.
Upon delivery, Ardmore's fleet will stand at 24 vessels, with 14 in operation and 10 Eco-design product and chemical tanker newbuildings delivering by the fourth quarter of 2015. The next two newbuildings are scheduled to deliver in November 2014.
Anthony Gurnee, the Company's Chief Executive Officer, commented: "We are pleased to announce the acquisition of these modern MR product tankers at attractive prices. The vessels are Japanese-built and very fuel-efficient, in line with our strategy of acquiring high-quality MRs that we can upgrade to Eco-mod."
Mr. Gurnee continued, "The delivery of these vessels will expand our operating fleet and provide an immediate positive contribution to Ardmore's earnings. By continuing to supplement our newbuilding program with accretive acquisitions of modern, in-the-water vessels, we are capitalizing on the attractive, cash flow-generating opportunities that exist in the near term while also strengthening the Company's ability to benefit from the long-term fundamentals of the product and chemical tanker markets."
Only at the end of last month, Ardmore acquired another tanker for $36m, a 49,997dwt product and chemical vessel built to an Eco-design and from a South Korean yard.