Ardmore Shipping sold a 2014‑built Medium‑Range tanker for $35.5 million, with delivery scheduled for June 2026. The sale reduces the company’s fleet from 26 to 25 vessels, providing immediate liquidity and freeing capital for higher‑margin investments.
The company also signed contracts for two 40,500‑dwt Handysize product/chemical tankers at Wuhu Shipyard. Each vessel is priced at $44.9 million, which includes roughly $3 million for full IMO2 specification and MarineLine tank coatings. The contracts contain options for two additional vessels on the same terms, with deliveries expected from late 2028.
The sale and new orders illustrate Ardmore’s strategy of modernizing its fleet and reallocating capital to assets that generate higher yields. By replacing an older MR tanker with newer, fuel‑efficient Handysize vessels that meet IMO2 standards, the company positions itself to capture premium rates in the tightening supply environment for chemical and product trades.
TCE performance data for the first half of 2026 shows a strong market: in Q1, MR tankers averaged $33,700 per day and chemical tankers $22,300 per day; in Q2 to date, MR rates rose to $50,000 per day and chemical rates to $32,100 per day. The upward trend reflects robust demand and limited supply, supporting the company’s higher‑margin strategy.
Financially, Ardmore maintains a solid foundation with a debt‑to‑equity ratio of 0.20 and a current ratio of 4.33. The company recently refinanced its debt into a $350 million revolving credit facility with favorable terms. In addition, it doubled its dividend payout ratio to two‑thirds of adjusted earnings effective Q1 2026, underscoring a commitment to shareholder returns while investing in fleet growth.
"Ardmore continues to execute on a clear, long‑term strategy with targeted fleet investment while simultaneously increasing capital returns. Providing enhanced trading options across a wide range of liquid cargos, from mainstream oil products to specialized high‑spec chemicals, these advanced IMO2 assets are well matched to our strategy and proven organizational capabilities." – CEO Gernot Ruppelt
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