Ardmore Commences Execution of Its Fleet Expansion Plan

Ardmore Shipping Corporation (Ardmore) on Thursday announced that it has exercised options on two 50,300-dwt IMO 3 eco-design product tankers ordered from SPP Shipbuilding Co. Ltd, South Korea.

This extends the series from SPP to a total of eight 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.

[mappress]

Ardmore, August 11, 2013