Company: ASC
Filing Date: 2025-11-05
Form Type: 6-K
Source: 0001104659-25-106687
Chunk: 12

Company: Ardmore Shipping Corp
Filing Date: 2025-11-05
Form: 6-K
Chunk 12
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 a decrease of $0.8 million from $16.9 million for the nine months ended September 30, 2024. This decrease is a result of two chartered-in vessels redelivered at the end of their charter periods during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. Total charter hire expenses for the nine months ended September 30, 2025 were comprised of an operating expense component of $8.4 million and a vessel lease expense component of $7.7 million (September 30, 2024: $8.8 million and $8.1 million, respectively).

Depreciation. Depreciation expense for the nine months ended September 30, 2025 was $24.3 million, an increase of $1.9 million from $22.4 million for the nine months ended September 30, 2024. This increase is primarily attributable to the previously announced addition of three vessels to the Ardmore fleet during the third quarter of 2025 and 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 nine months ended September 30, 2025 was $3.8 million, an increase of $1.1 million from $2.7 million for the nine months ended September 30, 2024 due to increased drydocking activity compared to the previous period. 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 nine months ended September 30, 2025 were $15.0 million, a decrease of $1.6 million from $16.6 million for the nine months ended September 30, 2024. The decrease primarily reflects one-time expenses related to the Company’s leadership transition during the nine months ended September 30, 2024.

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 nine months ended September 30, 2025 were $3.6 million, an increase of $0.3 million from $3.3 million for