Trust was key to Ardmore Shipping forming a chemical tanker management pact with Germany's Carl Buettner.

New York-listed Ardmore announced a deal on Monday to expand its chemical fleet to 10 ships when it takes over the commercial operation of four Buettner handysize tankers.

The Ireland-based shipowner's chief commercial officer, Gernot Ruppelt, revealed that the Bremen company had approached Ardmore about cooperation.