Ardmore Adds Three More

Ardmore Adds Three More

The Marshall Islands-incorporated tanker operator Ardmore Shipping Corporation has taken delivery of three more newbuildings after January 6 and the delivery of the Ardmore Cherokee.

In February 2015, Ardmore took delivery of the Ardmore Dauntless and the Ardmore Defender, from the Hyundai Mipo Dockyard in Korea.

The Ardmore Dauntless, a 37,764 dwt product and chemical tanker, was delivered to Ardmore on February 13, 2015.

The Ardmore Defender, her sister ship, is a 37,791 dwt product and chemical tanker and was delivered on February 25, 2015.

On March 27, 2015, the company took delivery of the Ardmore Cheyenne, a 25,215 dwt product and chemical tanker constructed at Fukuoka Dockyard in Japan.

”All four vessels commenced their initial employments upon delivery and will immediately contribute to growth in earnings and cashflow,” Anthony Gurnee, CEO of Ardmore Shipping, said.

”The fundamentals of the product market remain highly compelling. We look forward to taking delivery of our remaining six newbuild vessels throughout 2015; at that point, we will have completed our current, fully-funded newbuilding program and increased our revenue generating capacity by approximately 70% from 2014. With each additional delivery, we will realize even greater benefit from the strong charter market and thereby continue to build shareholder value.”

The Ardmore fleet is now eighteen vessels strong, with a total tonnage of 718,000 DWT.

 

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