Interest expense and finance costs, which include loan interest, capital lease interest and amortization of deferred financing fees, were $1.1 million for the three months ended September 30, 2013, an increase of $0.5 million from $0.6 million for the three months ended September 30, 2012. The increase relates to an increase in average debt balance following the delivery of two vessels (the Ardmore Seavaliant and Ardmore Seaventure), additional interest costs associated with the capital lease facility for the Ardmore Calypso and Ardmore Capella executed in April 2013, and a write-off of $0.2 million of deferred financing fees upon the repayment of senior debt in connection with the capital lease. These increases were partially offset by an increase in the amount of capitalized interest.
As of September 30, 2013, the Company had $77.0 million available in cash and cash equivalents.
The following debt and capital lease liabilities were outstanding as of September 30, 2013:
|Sep 30, 2013||Dec 31, 2012|