Ardmore sells small chemical pair for $38.5m

Ardmore Shipping has sold two 17,600 dwt five-year-old chemical tankers – Ardmore Calypso and Ardmore Capella – for a total of $38.5m to Singapore’s BTS Tankers.

Ardmore expects to book a net gain of approximately $1.6m when the vessels deliver to the buyers in April / May next year.

Anthony Gurnee, Ardmore’s ceo, commented: “We are pleased to announce the sale of the Calypso and Capella at an attractive price, reflecting a positive outlook for the chemical sector. While these ships have traded well for us over the past five years and are excellent units on a technical basis, their small size at 17,600 dwt makes them outliers in our fleet, no longer consistent with our strategy of focusing on vessels at or above 25,000 dwt. We expect to have the opportunity to redeploy the capital accretively to larger vessels when this sale is completed in early 2016.”

BTS focuses on the Southeast Asian tanker trades. It was formerly know as Petroships and after that Brostrom Tankers Singapore.

Two years ago Integra Holdings, the parent company of Integra Petrochemicals, and Cldn-Cobelfret, a Luxembourg-based bulk shipping company, bought the the assets of Brostrom Singapore from its parent, Maersk Tankers Singapore.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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