Three shipping banks ensure Ardmore USD 172 million

ABN Amro, Nordea, and SEB have provided Irish-based Ardmore Shipping with financing for up to eight newbuildings in the product and chemical tank segments.

Photo: Ardmore

Product tank carrier Ardmore Shipping has secured a total credit facility of USD 172 million from ABN Amro Bank, Nordea Finland, and Skandinaviska Enskilda Banken (SEB).

The capital from the three large banks will be used to finance as much as 65 percent of the purchase of eight newbuildings that the Irish carrier has in the pipeline. The credit facility expires in January 2021.

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