Option exercise lifts total order to six vessels
Ardmore Shipping Corporation announced that it has exercised the remaining options for two 40,500 dwt Handysize product/chemical tankers at China’s Wuhu Shipyard. The move expands the original contract to a six‑ship programme and, as the company confirms, leaves no further options outstanding.
Hellenic Shipping News relayed the statement from Ardmore, noting that the deliveries of all six vessels are scheduled to begin in late 2028 and continue thereafter.
Financial scope and vessel specifications
The financial value of the expanded programme is reported with slight variation. TradeWinds published two separate figures – one article cited a total order worth $264 million, while another placed the figure at $269 million. Splash247, meanwhile, calculated the aggregate cost at roughly $269.4 million, based on disclosed pricing for the individual vessels.
According to Splash247, Ardmore entered the programme in April with two firm ships priced at $44.9 million each. That price included an approximate $3 million premium per vessel for full IMO II specifications and MarineLine tank coatings, enabling the ships to switch between clean petroleum products and higher‑spec chemical cargoes.
The latest pair of options, exercised on similar terms, represent an additional investment of about $89.8 million. When added to the initial spend, this brings the total programme cost to the aforementioned $269‑plus million range.
Delivery timetable and fleet renewal context
Splash247 highlighted that the full six‑ship series is slated to start delivering from late 2028. This timing aligns with Ardmore’s broader fleet renewal drive, which has seen the company also divest older tonnage – it sold a 2014‑built MR tanker for $35.5 million earlier in the year.
By finalising all options, Ardmore secures a homogeneous batch of handysize vessels that can be deployed flexibly across product and chemical trades, supporting its strategy to modernise the fleet with IMO‑compliant ships.
Market reaction and strategic implications
The expansion underscores confidence in demand for mid‑size tankers capable of handling both refined products and specialised chemicals. While TradeWinds’ differing monetary estimates reflect typical reporting variance, all sources agree on the scale (six 40,500 dwt vessels) and the delivery schedule.
Ardmore’s commitment to a single shipyard also signals a desire for construction consistency, which may reduce lead‑time risk and facilitate uniform maintenance regimes once the ships enter service.
What this means for operators
For ship operators, the arrival of six newly built, IMO‑II compliant handysize tankers from late 2028 will increase the available pool of versatile vessels in a market where flexibility between product and chemical cargoes is increasingly prized. Operators can anticipate more predictable charter rates for this class, given the modern specifications and uniformity of the fleet. Moreover, the timing aligns with expected growth in Asian intra‑regional trade, offering potential opportunities for operators to secure contracts on newly delivered tonnage without the usual commissioning delays associated with mixed‑spec newbuild programmes.
