Ardmore Shipping spends $70m in vessels deal

Ardmore Shipping Corporation, a Cork-based tanker company, has agreed a deal with a South Korean ship building company to buy two vessels for almost $70 million.

Ian Kehoe - avatar

Ian Kehoe

10th August, 2013

Ardmore Shipping Corporation, a Cork-based tanker company, has agreed a deal with a South Korean ship building company to buy two vessels for almost $70 million.

Ardmore has exercised an option to buy two 'eco-design' product tankers from SPP Shipbuilding. Ardmore said the total cost of the package was $68.5 million, adding it expected to take possession of the vessels in 2015.

The Mahon-headquartered company owns and operates a fleet of mid-sized product and chemical tankers, and has...

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