There is at least one thing that Ardmore Shipping’s outgoing chief financial officer will not be leaving on his desk for his successor to deal with: a pile of financial leases.

With $308m-worth of refinancings announced in the company’s second-quarter earnings report, the New York-listed product tanker owner has cut its lease-financed fleet from 14 vessels at the start of the year to just two ships today, chief executive Anthony Gurnee told analysts.