CORK, Ireland – Ardmore Shipping Corporation (NYSE: ASC) (Ardmore or the Company) today announced that it has executed contracts for the construction of four 25, 000 Dwt IMO 2 eco-design product & chemical tankers ordered from Fukuoka Shipbuilding Co. Ltd., Japan (Fukuoka) for a total price of approximately $118, 000, 000.As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Ardmore expects to take delivery of the contracted vessels between fourth quarter 2014 and fourth quarter 2015. Including these four newbuildings, Ardmore has exercised options or signed newbuilding contracts for a total of eight vessels since pricing its IPO on July 31, 2013, increasing the Companys fleet to 20 vessels consisting of eight vessels in operation and 12 newbuildings on order.
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.
