Ardmore adds $53m

New York-listed Ardmore Shipping has borrowed another $53m to pay for three newly acquired tankers.

Its loan with ABN Amro, Nordea Bank and Skandinaviska Enskilda Banken is now worth $225m.

“The proceeds from the expanded facility will be used to finance up to 65% of the purchase price of three recent vessel acquisitions,” it said.

The facility matures early in 2021.

The company added three MRs in May and June.

CEO Anthony Gurnee said: "We are delighted to further expand our relationship with ABN AMRO, Nordea and SEB through the upsizing of this facility, which completes financing for our three recent acquisitions and highlights the company’s financial strength and flexibility.”