Ireland-based Ardmore Shipping has moved to refresh its fleet with an order for two product and chemical tankers, while keeping the door open for further expansion.
The New York-listed owner said it has signed contracts with China’s Wuhu Shipyard for 40,500 dwt pair, priced at $44.9m each. The deal also includes options for two additional vessels on the same terms, giving Ardmore flexibility to scale up depending on market conditions.
Deliveries are scheduled from late 2028.
The ships will be built to full IMO2 specification and fitted with MarineLine tank coatings, allowing them to carry a wider range of cargoes, from clean petroleum products to higher-spec chemicals, the company explained. Ardmore is also adding a package of performance and safety upgrades, though details have not been disclosed.
Chief executive Gernot Ruppelt said the order fits a longer-term plan. “Ardmore continues to execute on a clear, long-term strategy with targeted fleet investment while simultaneously increasing capital returns,” he noted.
“Providing enhanced trading options across a wide range of liquid cargos, from mainstream oil products to specialized high-spec chemicals, these advanced IMO2 assets are well matched to our strategy and proven organizational capabilities.”
Alongside the newbuilding move, Ardmore is also trimming its existing fleet. The company has agreed to sell a 2014-built MR tanker for $35.5m, with delivery set for June 2026.
Ruppelt pointed to the sale as part of an active approach to capital allocation. “We continue to act on attractive commercial opportunities, as our aforementioned vessel sale demonstrates, following multi-ship acquisitions we concluded less than a year ago at significant discounts to today’s levels,” he explained.
Ardmore currently operates a fleet of around 25 ships, largely made up of MR tankers.