Ardmore Shipping is the latest public owner to turn to lease financing.
New York-listed Ardmore has refinanced the 47,000-dwt Ardmore Seatrader (built 2002) via a sale-and-leaseback deal, it announced in its quarterly report.
After debt repayments, the transaction will generate $9.3m, which has been earmarked for general corporate purposes.
The deal came to light as Ardmore reported a $3.7m loss for the final three months of 2016, compared with a profit of $5.4m
