#ArdmoreNewbuilds – Ardmore Shipping, the Cork based tanker group announced yesterday an order for two 37,000 Dwt IMO 2 eco-design chemical tankers to be built at the Hyundai Mipo Dockyard (HMD) Co. Ltd in South Korea.

As previously reported, this development follows last week's option by Ardmore to another South Korean shipyard, to exercise an option of adding a further pair of 50,300dwt IMO 3 eco-design product tankers to an existing six-vessel order.

The latest order from HMD for the chemical tankers each costing approximately $32.7 million, is accompanied with an option for further equipment upgrades.

As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Delivery of the vessels are due in the fourth quarter 2014 or the first quarter of 2015.

Also reported, is the Ardmore Group plans for expanding its fleet as $140 million in an I.P.O was raised in funding for the vessel newbuild programme via an IPO on the New York Stock Exchange.

To see a panel detailing the newbuilds and current operational fleet, visit the link above.

#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.

Irish Economy: Exports could fall 2.8bn - The value of exports from the Republic could fall by €2.8 billion this year as earnings from pharmaceutical sales slip again, according to the latest estimates. The Irish Exporters' Association reported last week that the total value of exports in the first six months of this year was down 1.9% at €88.6 billion from €90.3 billion during the same period in 2012.

Container Market: Container volumes uplift - Volumes of containers increased at an accelerated rate in June 2013, marking the third consecutive month of growth, Container Trade Statistics [CTS] noted last week. The latest CTS aggregated volume data survey shows that, global containerized exports in June grew by 2.84% to 10.90 million TEU, which also appears to be the highest global total for June since 2011.

Bulker Market: Dry-cargo demolition plummets - Dry-cargo demolition has dropped by over 50% in 2013, according to Tradewinds. It counts 23.9million deadweight tonnes of bulkers sent to the scrap heap this year, down from 36.5 million dwt in 2012.Scr apping figures in all of the main sub-sectors are down on where they were in 2012.

For more on each of the above and other stories visit the downloadable PDF IMDO Weekly Markets Review (Week 32). In addition to Afloat.ie's dedicated Ports & Shipping News section.

#ArdmoreGroup – As previously reported, Ardmore Shipping Group has purchased two 50,300 dwt IMO 3 class eco-product tankers worth $68m / €50m from South Korean shipbuilders, SSP, writes Jehan Ashmore.

Ardmore Shipping eventually intend to control a 24-strong fleet and recently the shipping group based out of Mahon in Cork Harbour, was floated on the New York Stock Exchange which raised $140m.

According to The Sunday Independent, the float made $128m in cash combined with a $235m credit facility is to fund an expanding fleet programme.

Currently the latest fleet member is Ardmore Seavaliant of 49,999dwt and her sister Ardmore Seaventure. Both these product-tankers were also completed by SSP Shipbuilding. In addition, there is a trio of product tankers albeit slightly smaller in the region of 46,000dwt.

Completing the fleet, there is another trio of vessels, albeit chemical tankers which range from 17,000-29,000 dwt. Likewise, they were launched from the same shipyard on the Korean peninsula. To review current feet and newbuild orders, click this LINK.

Ardmore Shipping was founded in 2010 and in which is ultimately controlled from the Pacific Ocean state of the Marshall Islands, where the entire fleet is registered and flagged.

#ShippingReview: Over the last fortnight Jehan Ashmore has reported from the shipping scene where the Isle of Man based Ramsey Steamship Company could face closure in its centenary year.

Funding for a £81m renewable energy plant is to be built at Londonderry Harbour Commissioners lands at Lisahally.

A Government report cites that the state does not need to have it own oil refinery, which is located at Whitegate in lower Cork Harbour.

Billionaire businessman Denis O'Brien is behind an ambitious plan to make Dublin Port a hub for the maritime industry with an international shipping services centre (ISSC).

Shannon Foynes Port Company (SFPC) revealed record operating profits, primarily on foot of increased shipping activity not seen since 2008.

Surge in Irish manufacturing as new export orders grew in July for the first time in five months.

Port companies will be exempt from the Freedom of Information Act in a new bill put forward by Minister for Public Expenditure and Reform.

Ardmore Shipping has exercised their option for a pair of new product and chemical tankers from a South Korean shipyard.

#ArdmoreExpansion – Cork based Ardmore Shipping say they have begun the execution of their product and chemical tankship fleet explansion plan, according to MarineLink.com

The company has put the plan into effect by exercising options on a further two 50,300-dwt IMO 3 eco-design product tankers ordered from SPP Shipbuilding Co. Ltd, South Korea. ("SPP").

This extends the series from SPP to a total of eight new ships with deliveries beginning in January 2014. The two-ship package has a cost of approximately $68,500,000 inclusive of ballast water treatment systems.

Ardmore expects to take delivery of these vessels from SPP in the second and third quarters of 2015.

Recently, Ardmore raised $140 million in an I.P.O. having successfully secured funding for fleet expansion via the IPO on the New York Stock Exchange. For more on this development the IMDO has a report.

#IOMregistry - Registry of vessels on the Isle of Man Ship Registry has increased following an announcement by the authority that it has registered 'Hanjin Blue Ocean' who are completing a series of nine 13,000 TEU container vessels to register in the Isle of Man.

At over 360 metres long and 48.2 metres wide, these vessels are the largest to be registered in the Isle of Man and some of the largest vessels currently in operation in the world.

Each ship boasts a gross registered tonnage (GRT) of 141,000, collectively adding a healthy 1.26 million GRT to the Isle of Man's growing register, which passed the 15 million GRT milestone at the start of this year.

For more on this story the IsleofMan.com reports.

#EnergyPort - Funding for a renewable energy  plant costing £81m is to be built at Londonderry Harbour Commissioners lands at Lisahally.

Northern Ireland-based Evermore Renewable Energy will build the flagship biomass CHP plant, which is the first of its kind on the island of Ireland.

The 15-megawatt plant will increase the amount of renewable energy currently generated in Northern Ireland by approximately 10%. For more on this development U.TV news has a report.

#ManxCargo - Ramsey Steamship Company's chairman has expressed his sadness that the historical business could face closure in its centenary year.

The 100-year-old freight, engineering and agency company faces going into liquidation due to its share of a multibillion pound black hole in an industry-wide pension fund.

Chairman Ramsey Cringle served as a captain for the Parliament Street-based company in the 1970s, and has been a director for 26 years. For more on this story The IOMToday reports.

Afloat.ie adds that the company based in Ramsey located on the north-east of the island operates two small coasters which are a familiar sight particularly in northern Irish Sea ports.

The coasters are the Ben Varrey (1986/997grt) and elder fleetmate Ben Maye (1979/548grt). They may be small sized vessels but they represent character compared to modern day counterparts.

#Ports&Shipping –The latest IMDO Weekly Shipping Market Review includes the following stories as detailed below.

Irish Economy: BRIC potential - Some 40% of Enterprise Ireland's overseas offices are now in the so-called BRIC nations of Brazil,Russia, India and China or the Asia Pacific region because of the significant potential for export growth. Enterprise Ireland's outgoing chief executive Frank Ryan said the level of staff based in countries outstrips the current trade levels because of the growth potential.

Container Market: Global Over –capacity. The delivery of ultra-large container vessels on the Asia-Europe trade is continuing to cause rate weakness on other trade lanes, reported Lloyd's List last week. According to Alphaliner, 1.3m TEU of new containership capacity has been delivered over the last year, with 622,000 TEU allocated to Asia-Europe services.

Artic Shipping: Growth ahead - Arctic shipping is set for a record year as melting sea ice raises the prospect of substantial fuel savings, according to the Financial Times. To date, permission has been granted to 204 ships to sail this year. Last year, only 46 ships sailed the entire length from Europe to Asia, up from four vessels just two years earlier.

For more of the above and other stories visit the IMDO Weekly Markets Review (Week 30) and also on Afloat.ie's dedicated Ports & Shipping News section.

#ShippingReview: Over the last fortnight Jehan Ashmore has reported from the shipping scene where the former detained 19,354 tonnes bulk-carrier Clipper Faith which was sold last month for €4.5m has been renamed Island Mariner.

A 4% drop in Irish exports last month was recorded according to preliminary figures released by the Central Statistics Office.

New harbour master appointed for Europe's most westerly harbour, Dingle Co. Kerry.

Dublin Port Company publish Annual Report & Accounts for 2012 following a presentation of by Minister for Transport Mr. Leo Varadker.

This year's Irish Ports Association Conference is to be hosted in the capital port and take place close to the Dublin Port Company HQ in the Gibson Hotel on 27 September.

European Court of Auditors (ECA) believe the Marco Polo rail programmes have been ineffective and should be discontinued in their current design.

As mentioned above, Island Mariner the re-flagged Liberian 29,501dwt bulk-carrier finally departed Dublin Port after arriving from the US just days before St. Patrick's Day.

US maritime consultancy firm Flagship Management chooses Kinvara for their EMEA HQ creating 15 jobs over the next three years.