Ardmore snaps up trio of modern MR tankers

Ireland-based Ardmore Shipping is enhancing its product tanker fleet by acquiring three modern MR vessels for nearly $104 million. The New York-listed company disclosed this strategic move in its recent quarterly earnings report, revealing the details of the transactions. The acquisition includes one scrubber-fitted vessel built in 2020 and two MR tankers from 2017, all set for delivery in the third quarter of this year.

Details of the Acquisition

The acquisition consists of two separate transactions. The first involves a 2020-built scrubber-fitted vessel priced at $38.3 million. The second part includes the purchase of two 2017-built MR tankers, each costing approximately $32.8 million. These additions are part of Ardmore’s strategy to strengthen its position in the global shipping market, particularly in the product tanker segment. The company plans to finance these acquisitions using a combination of available cash and revolving credit facilities.

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As of the end of June, Ardmore Shipping operated a fleet of 22 owned vessels, alongside four chartered-in vessels. This expansion reflects the company’s commitment to maintaining a modern and efficient fleet. The new vessels are expected to enhance the company’s operational capabilities and support its growth objectives in the competitive maritime industry. With the delivery of these vessels anticipated in the coming months, Ardmore Shipping is poised to further establish itself as a leader in the tanker sector.