Related party transactions |
12 Months Ended |
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Dec. 31, 2025 | |
| Related party transactions | |
| Related party transactions | 14. Related party transactions AASML is a joint venture entity owned 50% each by the third-party technical manager Anglo-Eastern and Ardmore Shipping (Bermuda) Limited. AASML is accounted for under the equity method of accounting. The carrying value of the investment as of December 31, 2025 and 2024 was not significant. AASML was incorporated in June 2017 and began providing technical management services exclusively to the Ardmore fleet on January 1, 2018. The Company has entered into standard Baltic and International Maritime Council (“BIMCO”) ship management agreements with AASML for the provision of technical management services to 25 owned vessels of the Company’s fleet as of December 31, 2025 (2024: 22 vessels). AASML provides the vessels with a wide range of shipping services such as repairs and maintenance, provisioning, and crewing. Total management fees paid to AASML for the year ended December 31, 2025 were $4.4 million (2024: $3.7 million and 2023: $3.2 million), which are included in vessel operating expenses in the consolidated statements of operations. Amounts due from/(to) AASML in respect of management fees were $Nil as of December 31, 2025 (2024: $Nil). Advances to AASML for technical management services as of December 31, 2025 were $4.4 million (2024: $2.6 million) and are included in advances and deposits in the consolidated balance sheets. Amounts payable to AASML for technical management services as of December 31, 2025 were $0.7 million (2024: $0.4 million), with $0.5 million (2024: $0.2 million) included in accounts payable and $0.2 million (2024: $0.2 million) included in accrued expenses and other liabilities in the consolidated balance sheets.
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