Ardmore betting on second-hand ships

The price of a MR newbuilding is no longer attractive, says Ardmore CEO Anthony Gurnee. But this does not mean a stop to investments, and the carrier has cash ready for second-hand ships.

Photo: Ardmore

It is no longer attractive to order new product and chemical tankers, says CEO of Irish carrier Ardmore, Anthony Gurnee, which in the past five years has placed several orders with shipyards in Korea and Japan, and still has ten newbuildings set for delivery in 2014 and 2015. Ardmore currently has 11 ships in the water, he says in an interview with ShippingWatch:

“We were among the first to order newbuildings back in 2010. At that time we ordered ships at very attractive prices. Now newbuildings have reached a level that’s no longer that attractive. So our focus is more aimed at the ships that are already sailing and generating positive income. We’re currently more focused on second-hand vessels or eco-designs that have just been delivered,” he says, adding:

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