SPP Shipbuilding adds two more for Irish owner

SPP aerialAUGUST 8, 2013 — Cork, Ireland, based Ardmore Shipping Corporation (NYSE: ASC) today announced that it has exercised options on two 50,300 dwt IMO 3 eco-design product tankers at SPP Shipbuilding Co. Ltd, South Korea.

This extends Ardmore's newbuild program at SPP to a total of eight ships, with deliveries beginning in January 2014.

The latest two-ship package has a price tag of approximately $68,500,000 inclusive of ballast water treatment systems. Ardmore expects to take delivery of these vessels from the shipyard in the second and third quarters of 2015.

Want more? Subscribe now!

News from NASDAQ