AUGUST 8, 2013 — Cork, Ireland, based Ardmore Shipping Corporation (NYSE: ASC) today announced that it has exercised options on two 50,300 dwt IMO 3 eco-design product tankers at SPP Shipbuilding Co. Ltd, South Korea.

This extends Ardmore's newbuild program at SPP to a total of eight ships, with deliveries beginning in January 2014.

The latest two-ship package has a price tag of approximately $68,500,000 inclusive of ballast water treatment systems. Ardmore expects to take delivery of these vessels from the shipyard in the second and third quarters of 2015.