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Ardmore Chippewa & Ardmore Seahawk completes Ardmore Shipping Corp initial newbuild programme
by Ardmore Shipping Corporation

Ardmore Shipping Corporation announced that the Company took delivery of two newbuildings, the Ardmore Chippewa and Ardmore Seahawk, on November 13, 2015 and November 16, 2015 respectively.

The Ardmore Chippewa is a 25,233 deadweight tonne, Eco-design IMO 2 product and chemical tanker that was constructed at the Fukuoka Shipbuilding Co., Ltd shipyard in Nagasaki, Japan, and is the final in a series of four Fukuoka newbuildings delivered to Ardmore in 2015.

The Ardmore Seahawk is a 49,999 deadweight tonne, Eco-design IMO 2/3 product and chemical tanker and was constructed at the SPP Shipbuilding Co., Ltd Dukpo Shipyard in Korea, and is the last in a series of four SPP newbuildings delivered to Ardmore in 2015.

Upon delivery, both vessels immediately contributed to growth in earnings and cashflow by commencing their initial employment in the Ardmore fleet. Anthony Gurnee, CEO of Ardmore, commented: "We are pleased to welcome the Ardmore Chippewa and the Ardmore Seahawk to our fleet of modern, fuel-efficient MR product and chemical tankers, successfully completing our initial newbuilding program at a time when charter markets continue to demonstrate sustained strength.' 

Gurnee went onto say "With our 24-vessel fleet now fully delivered and deployed primarily in the spot market, we are well positioned to realize the full potential of a strengthening winter market. I would also like to extend our sincere thanks to both Fukuoka and SPP, as well as our staff and service partners, for their hard work and commitment throughout the four-year process of building and delivering this state-of-the-art fleet."

Ardmore Shipping Corporation, operating out in Cork in Ireland owns a fleet of mid-size product and chemical tankers ranging from 17,500 to 50,300 deadweight tonnes. The company provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies, with its modern, fuel-efficient fleet of tankers.

Ardmore's core strategy is to develop a modern, high-quality fleet of product and chemical tankers, build key long-term commercial relationships, maintain its cost advantage in assets, operations and overhead, while creating significant synergies and economies of scale as the Company grows. Ardmore provides its services to customers through voyage charters, commercial pools and time charters and enjoys close working relationships with key commercial and technical management partners. Ardmore views the continued development of these relationships as crucial to its long-term success.

Source: Ardmore Shipping Corporation, November 2015

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