Ardmore Shipping Corp
NYSE:ASC
Ardmore Shipping Corp
Ardmore Shipping Corp. operates as a holding company. The firm's segment relates to the operations of its vessels. The firm's fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation. The firm's vessels include Ardmore Seavaliant, Ardmore Seaventure, Ardmore Seavantage, Ardmore Seavanguard, Ardmore Sealion, Ardmore Seafox, Ardmore Seahawk, Ardmore Endeavour, Ardmore Seafarer, Ardmore Seatrader, Ardmore Seamaster and Ardmore Sealeader. The firm has over 30 subsidiaries, the majority of which represent single ship-owning companies for its fleet. Its subsidiaries include Ardmore Shipping (Bermuda) Limited (ASBL), Ardmore Shipping Services (Ireland) Limited (ASSIL), Ardmore Shipping (Asia) Pte. Limited and Ardmore Shipping (Americas) LLC.
Ardmore Shipping Corp. operates as a holding company. The firm's segment relates to the operations of its vessels. The firm's fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation. The firm's vessels include Ardmore Seavaliant, Ardmore Seaventure, Ardmore Seavantage, Ardmore Seavanguard, Ardmore Sealion, Ardmore Seafox, Ardmore Seahawk, Ardmore Endeavour, Ardmore Seafarer, Ardmore Seatrader, Ardmore Seamaster and Ardmore Sealeader. The firm has over 30 subsidiaries, the majority of which represent single ship-owning companies for its fleet. Its subsidiaries include Ardmore Shipping (Bermuda) Limited (ASBL), Ardmore Shipping Services (Ireland) Limited (ASSIL), Ardmore Shipping (Asia) Pte. Limited and Ardmore Shipping (Americas) LLC.
Earnings: Ardmore delivered adjusted earnings of $12.6 million, or $0.31 per share, with rising earnings through Q3 and into Q4.
Rates & Demand: MR tanker rates remained strong at $24,700 per day in Q3 and $24,900 so far in Q4, supported by record refined product volumes and robust demand.
Fleet Growth: The company acquired 3 modern MR tankers, adding to earnings power and taking advantage of firming secondhand prices.
Capital Actions: Ardmore fully redeemed $30 million in preferred shares, reducing cash breakeven and paid its 12th consecutive dividend.
Market Dynamics: Tight tanker supply, record refinery output, sanctions, aging fleet, and shifting global trade flows are all supporting positive market conditions.
Guidance & Strategy: Management emphasized ongoing discipline in capital allocation, low debt, prioritized shareholder returns, and readiness to pursue new opportunities as the market evolves.
