World News
Ardmore Shipping to Buy 6 Eco-Tankers
Ardmore Shipping Corporation (Ardmore Shipping) Tuesday announced that it has reached an agreement to acquire six "Eco-Design" MR product/chemical tankers for a total of $172.5 million.
The vessels were said to have an average age of 2.4 years, but the current owner of the tankers was not specified.
They are scheduled to be delivered to Ardmore on a charter-free basis between September and October 2016, expanding Ardmore's fleet to 28 vessels, or by approximately 32 percent on a tonnage basis.
Alongside the news was an announcement of a new public offering of 7.5 million of its common shares, the proceeds of which will be used alongside a new credit facility with an existing lender to fund the purchase.
Earlier in the year the ship owner said it had refinanced its outstanding debt and increased its borrowing capacity to support continued growth.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
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| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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