The former Teekay finance boss has launched Ardmore Shipping to snap up products and chemical tankers at bargain prices.

Tony Gurnee, the former banker who helped take Teekay Shipping to Wall Street in 1995, has quietly launched a new private equity-backed shipowner that aims to snap up good-quality products and chemical tankers at bargain prices.

Recently formed Ardmore Shipping is thought to be close to completing the purchase of its second vessel, the 28,900-dwt products tanker Elisa (built 2005), from Antonio Zacchello’s Motia Compagnia di Navigazione for around $21m.

“We