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Ardmore Shipping acquires MR product tanker for $20.5M

Ardmore Shipping announced the acquisition of a 45,726 Dwt MR product tanker built in October 2006 at Minami Nippon Shipbuilding in Japan, for a purchase price of approximately $20.5M. The vessel is expected to deliver to Ardmore in December and is intended to be employed either in the spot market or on a one-year time charter. The company plans to convert the vessel to Eco-Mod shortly after delivery. Upon delivery of this vessel, Ardmore’s fleet will stand at 21 vessels which includes nine in operation and 12 on order with deliveries commencing in January 2014.