Ardmore exercises options for two additional tankers

Image courtesy of Wuhu Shipyard

Chemical and product tanker specialist Ardmore Shipping Corporation (NYSE: ASC) has exercised options for two additional 40,500-dwt Handysize product/chemical tankers at Wuhu Shipyard in China, expanding a previously announced order to four vessels.

The vessels are scheduled for delivery beginning in late 2028. Ardmore also secured options for two additional vessels under similar terms. This vessel type will be the largest tonnage chemical tanker built at Wuhu Shipyard’s main base, according to the shipyard.

“We are pleased to take a further step in growing the business with these highly versatile, modern assets, which are well matched to Ardmore’s long-term strategy, while deepening our relationship with a quality shipbuilder,” said Gernot Ruppelt, CEO of Ardmore Shipping. “We believe these orders represent compelling value, and the additional options provide discretionary flexibility for the second half of the year.”

The newbuildings are designed to transport both refined petroleum products and chemicals, adding to Ardmore’s fleet of product and chemical tankers.

Ardmore, based in Bermuda, operates as a fully integrated shipping company, handling its commercial, technical, operational and corporate functions in-house. The company transports refined products, chemicals and other liquid bulk cargoes through voyage and time charter arrangements.

According to the company, its strategy focuses on developing and operating a modern fleet of product and chemical tankers while emphasizing safety, operational efficiency, cost management and long-term customer relationships.

No financial details of the vessel orders were disclosed.