#ArdmoreNewbuilds – Ardmore Shipping, the Cork based tanker group announced yesterday an order for two 37,000 Dwt IMO 2 eco-design chemical tankers to be built at the Hyundai Mipo Dockyard (HMD) Co. Ltd in South Korea.

As previously reported, this development follows last week's option by Ardmore to another South Korean shipyard, to exercise an option of adding a further pair of 50,300dwt IMO 3 eco-design product tankers to an existing six-vessel order.

The latest order from HMD for the chemical tankers each costing approximately $32.7 million, is accompanied with an option for further equipment upgrades.

As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Delivery of the vessels are due in the fourth quarter 2014 or the first quarter of 2015.

Also reported, is the Ardmore Group plans for expanding its fleet as $140 million in an I.P.O was raised in funding for the vessel newbuild programme via an IPO on the New York Stock Exchange.

To see a panel detailing the newbuilds and current operational fleet, visit the link above.