AUGUST 21, 2013 — Cork, Ireland, headquartered Ardmore Shipping Corporation (NYSE:ASC) says that it has entered contracts with Fukuoka Shipbuilding Co. Ltd., Japan, for the construction of four 25,000 dwt IMO 2 eco-design product and chemical tankers  for a total price of approximately $118,000,000.

As part of the contracts, Ardmore has also negotiated fixed price options for additional vessels. Ardmore expects to take delivery of the contracted vessels from the shipbuilder between fourth quarter 2014 and fourth quarter 2015.

Including these four newbuildings, Ardmore has exercised options or signed newbuilding contracts for a total of eight vessels since pricing its IPO on July 31, 2013, increasing the its fleet to 20 vessels consisting of eight vessels in operation and 12 newbuildings on order.