Ardmore Sells Ardmore Endeavour for $34.3 Million
The 2013-built MR tanker was sold in October as the company expands its newbuilding program at Wuhu Shipyard.
Updated on Nov. 4, 2026 in Business Strategy
Ardmore Shipping has sold the 2013-built Ardmore Endeavour, a 49,859 dwt MR tanker without a scrubber, for $34.3 million. The sale was agreed in the third quarter and completed in October, with the buyer's identity undisclosed.
Why it matters
The disposal reflects Ardmore's strategy of capitalizing on strong secondhand vessel values while investing in newer tonnage. The move comes as the company expands its fleet through a six-ship newbuilding order.
Ardmore fixed about 45% of its fourth-quarter MR tanker revenue days at an average $57,600 per day, compared with an average third-quarter MR rate of $27,031 per day. The buyer's identity was not disclosed, and S&P sources tied the vessel to Türkiye's Mercan Group without company confirmation.
The players
Ardmore Shipping
Ardmore Shipping is a Bermuda-incorporated maritime company that operates a fleet of product and chemical tankers, known for its focus on the MR tanker segment.
Great Eastern Shipping
Great Eastern Shipping is an Indian shipping company with a large tanker and bulk carrier fleet, and it was the buyer of Ardmore's 2014-built Ardmore Engineer.
The details
Ardmore agreed the sale of the Ardmore Endeavour during the third quarter and completed it in October. The company exercised its final two options for six 40,500 dwt handysize tankers at Wuhu Shipyard in August, with the first vessel due in late 2028.
Timeline
Earlier this year, Ardmore sold the Ardmore Engineer to Great Eastern Shipping for $35.5 million.
August 2026: Ardmore exercised its final two Wuhu newbuilding options.
Third quarter 2026: Ardmore agreed the sale of the Ardmore Endeavour.
October 2026: The Ardmore Endeavour sale was completed.
Late 2028: The first Wuhu newbuild vessel is due for delivery.
Business Strategy Context
The transaction follows a wider pattern in which tanker owners sell older vessels at high secondhand prices while committing capital to newbuildings for future capacity. Ardmore's sales of both the Ardmore Endeavour and the Ardmore Engineer this year fit that pattern of monetizing mid-age tonnage.
For shippers and charterers, Ardmore's continued fleet renewal signals capacity additions as the Wuhu vessels arrive from late 2028. Freight rates for MR tankers remain sensitive to such fleet changes as older tonnage leaves the active fleet.
The takeaway
Owners who sell mid-age tonnage at strong secondhand prices while ordering newbuilds are betting on future capacity demand. Tracking secondhand values and charter rates together offers a clearer read on that bet.
Further reading
For more on how shipping companies time asset sales and fleet renewal, see Business Strategy.
