Company: ASC
Filing Date: 2025-11-05
Form Type: 6-K
Source: 0001104659-25-106687
Chunk: 28

Company: Ardmore Shipping Corp
Filing Date: 2025-11-05
Form: 6-K
Chunk 28
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 starting from July 5, 2024. In April 2024, the Company exercised its options to extend the charter-in period for the Hansa Sealifterand Hansa Sealancerby an additional 12 months, starting from August 17, 2024 and September 1, 2024 respectively. The Company redelivered the Hansa Sealeaderand Hansa Sealifterduring the three months ended September 30, 2025. The Hansa Sealancerwas redelivered on October 24, 2025 . Chartered-in vessels include both lease and non-lease components. The lease component relates to the cost to a lessee to control the use of the vessel and the non-lease components relate to the cost to the lessees for the lessor to operate the vessel. For time charters-in, the Company has elected to separate lease and non-lease components.

F-12

Ardmore Shipping Corporation Notes to the Unaudited Interim Condensed Consolidated Financial Statements For the nine months ended September 30, 2025 and September 30, 2024 (Expressed in thousands of U.S. Dollars, except for shares and as otherwise stated)

5. Leases (continued) Operating leases are included in operating lease, right-of-use (“ROU”) asset, current portion of operating lease obligations, and non-current portion of operating lease obligations in the Company’s consolidated balance sheets. The ROU asset represents the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Short Term Lease The Company entered into a short term lease agreement in March 2025 to charter-in a vessel for a period of 12 months with the option to extend for a further three months. The Company elected the practical expedientof FASB Accounting Standards Codification 842- Leases (“ASC 842”), which allows for leases with an initial lease term of 12 monthsor less to be excluded from the operating lease right-of-use assets and lease liabilities. The Company recognizes the lease costs for all vessel-related operating leases as charter hire expenses, split between lease and non-lease components, on the condensed consolidated statements of operations on a straight-line basis over the lease term. For office operating