Ardmore Shipping has strengthened its fleet renewal strategy by exercising options for two additional 40,500 deadweight tonne (dwt) product and chemical carriers at China's Wuhu Shipyard, expanding its orderbook to four vessels with first deliveries expected from late 2028.
The New York-listed company said it had declared options for a further pair of 40,500 dwt newbuilds, bringing its orderbook at the Chinese yard to four vessels. The additional ships are understood to be priced at approximately $44.9m each and were contracted on the same terms as the original order announced earlier this year.
Fleet Renewal Strategy
Chief executive Gernot Ruppelt said the latest move represented another step in the company’s fleet renewal strategy. “We are pleased to take a further step in growing the business with these highly versatile, modern assets, which are well matched to Ardmore’s long-term strategy, while deepening our relationship with a quality shipbuilder,” Ruppelt said. “We believe these orders represent compelling value, and the additional options provide discretionary flexibility for the second half of the year.”
Ardmore Shipping currently operates a fleet of around 25 vessels, predominantly consisting of MR product tankers. The table below summarises the current newbuilding programme at Wuhu Shipyard.
| Vessel Count | DWT | Price per Vessel | Delivery Schedule |
|---|---|---|---|
| 2 (original order) | 40,500 | ~$44.9m | From late 2028 |
| 2 (options exercised) | 40,500 | ~$44.9m | From late 2028 |
| 2 (further options) | 40,500 | TBD | TBD |
Vessel Specifications and Environmental Compliance
The newbuilds are expected to feature modern fuel-efficient designs aligned with tightening environmental regulations and evolving charterer requirements. As product and chemical carriers, they offer versatility in cargo handling, which is well matched to Ardmore's long-term strategy. The 40,500 dwt size places them in the handy/mid-range product tanker segment, suitable for a wide range of refined petroleum and chemical products.
Implications for Tanker Capacity and Freight Markets
For logistics professionals and tanker market participants, Ardmore's expansion signals continued confidence in the product tanker sector despite a tight supply-demand balance. The four vessels on order, though not delivering until late 2028, will eventually add capacity to the fleet. However, with Ardmore operating only 25 vessels currently, this represents a 16% increase in owned tonnage over the long term. The additional two options provide further flexibility.
The choice of China's Wuhu Shipyard underscores the growing role of Chinese yards in building sophisticated tanker tonnage. The relationship between Ardmore and the yard could lead to further orders if the options are exercised, potentially influencing availability and pricing in the newbuilding market.
Watch List
The key upcoming factor is whether Ardmore will exercise the two further options with Wuhu Shipyard. According to the source, these provide “discretionary flexibility for the second half of the year,” and a decision could come in the coming months. Any additional orders would increase the company's committed newbuilding expenditure and further signal long-term fleet renewal. Additionally, as deliveries are scheduled from late 2028, shippers and charterers should monitor the phased introduction of these modern, fuel-efficient vessels, which could affect charter rates and availability in the product tanker segment in the early 2030s.
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