Ireland's Ardmore Shipping is building its chemical carrier exposure in a deal with Germany's Carl Buettner.
The cooperation agreement sees Ardmore take over commercial management of four ships built at the 3 Maj yard in Croatia and owned by Buettner.
The Cork-based company said the move strengthens its chemical platform and underpins its strategy to carry more sustainable, non-fossil fuel cargoes.
The vessels are the 24,000-dwt sisterships Apollo (built 2003) and Avalon (built 2005), as well as the 23,400-dwt Admiral (built 2002) and Aurelia (built 2006).
New York-listed Ardmore describes them as "high-quality". They also operate in vegetable oil trades.
Ardmore 'honoured by trust'
Gernot Ruppelt, chief commercial officer at Ardmore, said the company felt honoured that a outfit as well-established and professional as Buettner placed trust in its operations.
He added that the deal "reflects our belief in the significant growth potential for more sustainable, non-fossil fuel cargoes, which already makes up 25% of our business".
Ardmore has said the energy transition is driving greater demand for non-fossil cargoes.
"In joining forces with Carl Buettner, we have strengthened our platform when it comes to meeting customers’ needs for the movement of chemical cargoes, which will benefit both partners mutually," Ruppelt said.
The move brings Ardmore's managed and owned chemical fleet to 10 ships of between 23,000 dwt and 37,000 dwt, while it also operates 17 MR product tankers.
The company has been contacted for further comment.
New trades for Buettner
"We believe there is a lot of aligned thinking between Buettner and Ardmore, and we look forward to this new partnership," Buettner managing director Thorsten Mackenthun said.
"There is a strong match between our chemical tankers and Ardmore’s global presence and strong track record in the chemical and vegoil markets. And we look forward to exploring new trades and cargo opportunities for our ships."
Buettner is listed as controlling 11 chemical and product tankers.
Four are 38,000-dwt units, with two more of 15,000 dwt and a newbuilding of 38,000 dwt due from the Jiangsu New Hantong yard in China in November.
