Ardmore Shipping has exercised options to buy back two MR tankers that it has been bareboat chartering from CMB Financial Leasing.

The Ireland-based, New York-listed shipowner also said in its earnings statement that it extended the contracts on three chartered-in vessels.

As it reported better-than-expected first-quarter earnings, Ardmore said it expects to close the purchase of the 50,000-dwt product and chemical tankers Ardmore Seawolf and Ardmore Seahawk (both built 2015) in June.