Company: ASC
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0001558370-25-009775
Chunk: 12

Company: Ardmore Shipping Corp
Filing Date: 2025-07-30
Form: 6-K
Chunk 12
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 for the six months ended June 30, 2025 was $15.6 million, an increase of $1.0 million from $14.6 million for the six months ended June 30, 2024. This increase is primarily attributable to the installation of energy saving devices and other upgrades on several vessels during their most recent drydocking cycles in 2025.

Amortization of Deferred Drydock Expenditures. Amortization of deferred drydock expenditures for the six months ended June 30, 2025 was $2.2 million, an increase of $0.5 million from $1.7 million for the six months ended June 30, 2024. The deferred costs of drydockings for a given vessel are amortized on a straight-line basis to the next scheduled drydocking of the vessel.

General and Administrative Expenses: Corporate.Corporate-related general and administrative expenses for the six months ended June 30, 2025 were $9.8 million, a decrease of $0.6 million from $10.4 million for the six months ended June 30, 2024. The decrease in costs reflects savings versus the prior period one-time expenses related to the Company’s leadership transition.

General and Administrative Expenses: Commercial and Chartering.Commercial and chartering expenses are the expenses attributable to our chartering and commercial operations departments in connection with our spot trading activities. Commercial and chartering expenses for the six months ended June 30, 2025 were $2.5 million, an increase of $0.4 million from $2.1 million for the six months ended June 30, 2024. The cost increase for the six months ended June 30, 2025 was primarily due to one-time related costs.

Gain on Vessel Sold.We did not sell any vessels during the six months ended June 30, 2025. During the six months ended June 30, 2024, we recorded a gain of $12.3 million relating to the sale of the Ardmore Seafarerin April 2024.

Interest Expense and Finance Costs.Interest expense and finance costs for the six months ended June 30, 2025 were $2.0 million, a decrease of $2.6 million from $4.6 million for the six months ended June 30, 2024. The decrease in costs was due to the reduction of our average outstanding debt balance as a result of the conversion of our term loan into a fully