Ardmore Shipping has been said to have finally found the buyer for the oldest vessel on its fleet amid fleet renewal efforts.
Brokers reported that the 45,744-dwt Ardmore Seafarer (built 2004), which had been on the sales block for some time, was committed to an unnamed Indian buyer for $9.2m.
The product tanker, constructed by Minanippon Shipbuilding, was the first ship Ardmore bought back in 2010 when it was founded.
The New York-listed tanker owner’s chief executive Anthony Gurnee said: “As a matter of policy we can’t comment on market rumours.”
The reported sale price was described as “good” and “a bit firm” by some brokers.
VesselsValue estimates the price of a 15-year-old MR tanker has increased by 8.15% since the beginning of 2019, supported by firm demolition rates and optimistic freight market mood.
New York-listed Ardmore has been selling off old tonnage since late-2018.
Previously, the company sold the 47,100-dwt Ardmore Seatrader (built 2002) for $8.3m and 45,840-dwt Ardmore Seamaster (built 2004) for $9.7m.
In the last earnings call, Gurnee suggested Ardmore could buy or charter in mid-aged tankers to replace the tonnage.
