Ardmore Shipping Orders Product Tankships

Ireland's Ardmore Shipping Corporation (NYSE: ASC) say they have begun the execution of their product and chemical tankship fleet explansion plan.

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.

About Ardmore Shipping Corporation:
Ardmore owns and operates a modern, fuel-efficient fleet of mid-size product and chemical tankers. They engage in the seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies.