CORK, Ireland – Ardmore Shipping Corporation (NYSE: ASC) (Ardmore or the Company) today announced that it has executed contracts for the construction of two 37, 000 Dwt IMO 2 eco-design chemical tankers ordered from Hyundai Mipo Dockyard Co. Ltd, South Korea (HMD) for approximately $32.7 million each with options for further equipment upgrades. As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Ardmore expects to take delivery of the contracted vessels in fourth quarter 2014 or in first quarter 2015.
About Ardmore Shipping Corporation:
Ardmore owns and operates a modern, fuel-efficient fleet of mid-size product and chemical tankers. The Company is engaged in the seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies. Additional information is available at the Company’s website www.ardmoreshipping.com, which is not a part of this press release.