More tankers for Ardmore

Ardmore has also negotiated fixed price options for additional vessels under the new contracts.

The company has exercised options for newbuild contracts for a total of eight vessels, including this latest contract, since pricing its IPO on 31 July 2013. This has increased its fleet to 20 vessels, consisting of eight vessels in operation and 12 newbuilds on order.

The latest product and chemical tankers to be delivered to Ardmore were the Ardmore Seavaliant and Ardmore Seaventure, built by South Korea’s SPP Shipbuilding.

Both newbuilds were designed to deliver high standards of fuel efficiency and operational performance of between 10% and 15% and feature a larger, more efficient propeller, Mewis Duct and propeller boss cap fin devices.

The vessels are expected to be delivered to Ardmore between Q4 2014 and Q4 2015.