World News
Ardmore Upgrading Secondhand Tanker to Eco-Mod
Ardmore Shipping Corp. [NYSE:ASC] (Ardmore) says it is upgrading a newly acquired secondhand product tanker as part of its continuing efforts to expand its fleet.
The company took delivery of the 45,726 deadweight tonne (dwt) Ardmore Seamariner on January 7 and is now upgrading it to Eco-mod before it begins a three-month time charter at a rate of $16,050 per day.
Ardmore also took delivery on January 17 of the 499,999 dwt newbuilding Ardmore Seavantage, an eco-design MR product and chemical tanker built to IMO 3 specifications at SPP Shipbuilding Co. Ltd. in South Korea.
The Seavantage began operations under an existing charter with the Vitol Group.
"These additions represent our commitment to well-timed growth through the acquisition of Eco-design newbuildings and Eco-mod vessels, and our dedication to service excellence through the operation of a modern, high quality fleet with particular focus on fuel efficiency," said CEO Anthony Gurnee.
Ardmore is also in the process of upgrading the Ardmore Centurion to improve its fuel efficiency and commercial capability, allowing it to carry a broader range of cargoes.
"We look forward to taking delivery of the fourth Eco-design newbuilding, Ardmore Seavanguard, from SPP next month," Gurnee said.
"Upon delivery, we will have more than 50% of our fleet on the water and generating cash flow."
Ardmore currently has 10 ships in operation and 11 on order.
The company has said its growing focus on eco-ships has helped it improve its financial performance since going public in July.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
Popular Now More
-
Apr 28Failing to keep track of energy density variations could be costing shipping companies as much as $25/mt in fuel bills, Shipergy CEO Daniel Rose tells Ship & Bunker. -
Apr 28Gross profit from the marine segment was $35.7 million in Q1 2025, down from $48.4 million a year earlier. -
Apr 23Initial Ship & Bunker analysis shows ships would need to use between 17.6% and 23.3% biofuel in B100 terms to avoid penalty charges in 2028.