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Capital leases | 12 Months Ended
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Dec. 31, 2013
Capital leases [Abstract] |
Capital leases | 10. Capital leases On March 28, 2013 two of ASC’s subsidiaries entered into an agreement for the sale and leaseback (under a capital lease arrangement) of the Ardmore Calypso and Ardmore Capella . The capital lease arrangement was executed on April 2, 2013. This transaction is treated as a financing transaction. As part of this arrangement the senior debt outstanding on the vessels was repaid in full on April 2, 2013. The amount repaid was $17.9 million. The capital lease is scheduled to expire in 2018 and includes a mandatory purchase obligation to repurchase the vessels. ASC’s subsidiary, Ardmore Shipholding Limited, has provided a guarantee in respect of this financing arrangement.
| As at |
| Dec 31,2013 |
Current portion of capital lease obligations |  |  | 1,578,686 |
Non-current portion of capital lease obligations |  |  | 28,800,329 |
Total capital lease obligations |  |  | 30,379,015 |
The future minimum lease payments required under the capital leases at December 31, 2013, are as follows:
|  | As at |
|  | Dec 31,2013 |
2014 |  |  | 3,834,690 |
2015 |  |  | 3,834,690 |
2016 |  |  | 3,845,196 |
2017 |  |  | 3,834,690 |
2018 |  |  | 23,705,540 |
Total minimum lease payments |  |  | 39,054,806 |
Less amount representing interest |  |  | (8,675,791 | )
Net minimum lease payments |  |  | 30,379,015 |
Assets recorded under capital leases and included in vessels and vessel equipment, net consist of the following at December 31, 2013:
| As at |
| Dec 31,2013 |
Vessels and equipment |  |  | 41,326,198 |
Accumulated depreciation |  |  | (4,009,872 | )
|  |  | 37,316,326 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12069-110248 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6452660&loc=d3e36991-112694 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41499-112717 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 1,3) -URI http://asc.fasb.org/extlink&oid=6584154&loc=d3e38371-112697 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717 + Details
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