Ardmore Shipping Corporation Announces Financial Results For The Three Months Ended March 31, 2026
Rhea-AI Summary
Ardmore Shipping (NYSE: ASC) reported net income attributable to common stockholders of $23.6 million for 1Q 2026 ($0.58 per share) versus $5.6 million ($0.14) in 1Q 2025. Revenue rose to $87.9 million. The board declared a $0.39 quarterly dividend and doubled the dividend payout ratio to two-thirds of Adjusted earnings. Ardmore contracted two 40,500 dwt IMO2 Handysize newbuilds at $44.9 million each with options for two more; deliveries expected from late 2028. Liquidity was $283.7 million as of March 31, 2026.
Positive
- Net income increased to $23.6M in 1Q 2026
- Quarterly dividend declared of $0.39 and payout ratio doubled to two-thirds
- Signed contracts for two 40,500 dwt IMO2 Handysize newbuilds at $44.9M each with options
- Available liquidity of $283.7M including $47.2M cash
Negative
- Spot revenue days declined from 1,995 to 1,629
- Interest expense rose by $1.2M to $2.1M due to credit drawdowns
- Geopolitical conflicts noted as a material uncertainty affecting rates and trade routes
News Market Reaction – ASC
In the May 7 session, ASC gained 0.43%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 12 | Q4/FY 2025 earnings | Negative | -3.5% | Full-year 2025 earnings fell sharply versus 2024 despite ongoing dividends. |
| Nov 05 | Q3 2025 earnings | Positive | +1.5% | Q3 2025 adjusted earnings and fleet expansion alongside major new credit facility. |
| Jul 30 | Q2 2025 earnings | Negative | +1.3% | Sharp drop in adjusted earnings year-on-year but strategic fleet and financing moves. |
| May 07 | Q1 2025 earnings | Negative | -1.7% | Earnings down versus 2024 despite solid TCEs and maintained liquidity. |
| Feb 13 | Q4/FY 2024 earnings | Positive | -7.1% | Higher full-year 2024 earnings and capital returns met with a share-price decline. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings headlines have often produced muted to negative reactions, even when operational metrics improve.
Over the past year, Ardmore’s earnings releases have combined solid tanker TCE performance with fluctuating profitability. Events on Feb 13, 2025 and May 7, 2025 highlighted strong liquidity and dividends but softer earnings versus prior periods, with mixed share-price responses. Subsequent quarters, including Jul 30, 2025 and Nov 5, 2025, emphasized fleet growth, credit facilities, and ongoing dividends. The most recent Q4 2025 release on Feb 12, 2026 showed lower annual earnings than 2024 and a modest dividend, again met with a negative reaction.
Key Terms
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AI-generated analysis. How Rhea-AI works. Not financial advice.
Highlights and Recent Activity
- Reported Adjusted earnings and net income attributable to common stockholders of
$23.6 million $0.58 $5.6 million $0.14 - The Company has signed contracts for the construction of two highly-efficient and versatile 40,500 dwt Handysize product/chemical tankers at Wuhu Shipyard, at a price of
$44.9 million $3 million - The Company is doubling its dividend payout ratio on its shares of common stock to two-thirds (increased from one-third) of Adjusted earnings. The Board of Directors declared a cash dividend on May 7, 2026, of
$0.39 - The Company has agreed to the sale of the 2014-built Ardmore Engineer for
$35.5 million - MR tankers earned an average spot TCE rate of
$33,705 $22,284 55% of total revenue days currently fixed for the second quarter of 2026, the average spot TCE rate is approximately$52,100 65% of revenue days fixed for the second quarter of 2026, the average spot TCE rate for chemical tankers is approximately$32,500
Gernot Ruppelt, the Company's Chief Executive Officer, commented:
"Ardmore continues to advance as we execute on our capital allocation priorities: investing in two highly versatile IMO2 Handysize newbuildings plus options, realizing value through the opportunistic sale of a 2014-built MR tanker at an attractive spread, and doubling our dividend payout ratio to two-thirds of adjusted earnings. Freight rates have continued to accelerate, and to date our second-quarter spot-trading MR tankers are booked at an average TCE of
First Quarter 2026 Highlights and Recent Developments
Fleet
Fleet Operations and Employment
As of March 31, 2026, the Company had 26 vessels in operation (including one chartered-in vessel), consisting of 20 MR tankers (19 owned Eco-Design and one chartered-in Eco-Mod) ranging in size from 45,000 deadweight tons ("dwt") to 50,200 dwt and six owned Eco-Design IMO 2 product/chemical tankers ranging in size from 25,000 dwt to 37,800 dwt.
MR Tankers (IMO 2/3: 45,000 – 50,200 dwt)
Below is a summary of the average daily MR Tanker spot TCE rates earned during the first quarter of 2026 and rates thus far in the second quarter of 2026, together with the corresponding percentage of currently fixed total revenue days for the first quarter:
1Q 2026 | 2Q 2026 | ||
TCE | % Fixed | ||
Spot MR Tankers | 55 % | ||
Product / Chemical Tankers (IMO 2: 25,000 – 37,800 dwt)
Below is a summary of the average daily Chemical Tanker spot TCE rates earned during the first quarter of 2026 and rates thus far in the second quarter of 2026, together with the corresponding percentage of currently fixed total revenue days for the first quarter:
1Q 2026 | 2Q 2026 | ||
TCE | % Fixed | ||
Spot Chemical Tankers | 65 % | ||
Drydocking
The Company does not currently have any scheduled statutory drydocking days in the second quarter of 2026.
Newbuildings
In April 2026, the Company signed contracts for the construction of two highly-efficient and versatile 40,500 dwt Handysize product/chemical tankers at Wuhu Shipyard, at a price of
Dividend on Common Shares
Consistent with the Company's recently-updated variable dividend policy of paying out dividends on its shares of common stock equal to two-thirds (increased from one-third) of Adjusted earnings, as calculated for dividends (see "Adjusted earnings (for purposes of dividend calculations)" in the Non-GAAP Measures section), the Board of Directors declared a cash dividend on May 7, 2026 of
Vessel Sale
In March 2026, the Company agreed to sell the 2014-built Ardmore Engineer for
Geopolitical Conflicts
Geopolitical tensions cause volatility in the market. The recent
Since mid-December 2023 Houthi rebels in
Further escalation or expansion of international hostilities could continue to affect the price of crude oil and the oil industry, the tanker industry, demand for our services, and our business, results of operations, financial condition, and cash flows.
Geopolitical and Economic Uncertainty
Governments continue to take actions to implement new or increased tariffs on foreign imports and port fees. These activities have resulted in tariffs being levied on various goods and commodities, which may trigger an escalation of trade wars. These actions have been disruptive to global markets, resulting in significant volatility in stock and commodity prices and an increase in general global economic uncertainty, including the risk of economic recessions. As a result of the rapidly changing and unpredictable geopolitical climate, the shipping industry is experiencing uncertainty as to future vessel demand, trade routes, rates and operating costs.
Results for the Three Months Ended March 31, 2026 and 2025
The Company reported net income attributable to common stockholders of
Management's Discussion and Analysis of Financial Results for the Three Months Ended March 31, 2026 and 2025
Revenue. Revenue for the three months ended March 31, 2026 was
The Company's average number of operating vessels was 26.0 for the three months ended March 31, 2026, consistent with 26.0 for the three months ended March 31, 2025.
The Company had 1,629 spot revenue days for the three months ended March 31, 2026, as compared to 1,995 for the three months ended March 31, 2025. The Company had 21 vessels employed directly in the spot market as of March 31, 2026, as compared to 25 vessels as of March 31, 2025. While there was a decrease in spot revenue days, increases in spot charter rates resulted in a net increase in revenue of
The Company had four product tankers and one chemical tanker employed under time charters as of March 31, 2026, as compared to one product tanker and no chemical tankers as of March 31, 2025. There were 585 revenue days derived from time charters for the three months ended March 31, 2026, as compared to 90 revenue days for the three months ended March 31, 2025. The increase in revenue days for time-chartered vessels resulted in an increase in revenue of
Voyage Expenses. Voyage expenses were
TCE Rate. The average TCE rate for the Company's fleet was
Vessel Operating Expenses. Vessel operating expenses were
Charter Hire Costs. Total charter hire expense was
Depreciation. Depreciation expense for the three months ended March 31, 2026 was
Amortization of Deferred Drydock Expenditures. Amortization of deferred drydock expenditures for the three months ended March 31, 2026 was
General and Administrative Expenses: Corporate general and administrative expenses for the three months ended March 31, 2026 were
General and Administrative Expenses: Commercial and Chartering expenses are the expenses attributable to Ardmore's chartering and commercial operations departments in connection with its spot trading activities. Commercial and chartering expenses for the three months ended March 31, 2026 were
Interest Expense and Finance Costs. Interest expense and finance costs for the three months ended March 31, 2026 were
Liquidity
As of March 31, 2026, the Company had
Conference Call
The Company plans to host a conference call on May 7, 2026, at 10:00 a.m. Eastern Time to discuss its financial results for the quarter ended March 31, 2026. All interested parties are invited to listen to the live conference call and review the related slide presentation by choosing from the following options:
- By dialing 800-836-8184 (
U.S. ) or +1-646-357-8785 (International) and referencing "Ardmore Shipping." - By accessing the live webcast at Ardmore's website at www.ardmoreshipping.com
Participants should dial into the call 10 minutes before the scheduled time.
If you are unable to participate at this time, an audio replay of the call will be available through May 14, 2026 at 888-660-6345 or 646-517-4150. Enter the passcode 89653 to access the audio replay. A recording of the webcast, with associated slides, will also be available on the Company's website. The information provided on the teleconference is only accurate at the time of the conference call, and the Company takes no responsibility for providing updated information.
About Ardmore Shipping Corporation
Ardmore delivers energy, mobility, and essential commodities, supporting global trade through the transportation of refined products, chemicals and other liquid goods. Operating as a fully integrated shipping company, all core commercial, technical, operational, and corporate functions are conducted within the Ardmore public company structure. Through its global platform, Ardmore maintains direct control over asset management, operations, and commercial execution, promoting consistent standards, efficiency, and accountability across the fleet.
Ardmore's core strategy is centered on the continued development and operation of a modern, high‑quality fleet of product and chemical tankers, while continually evolving and innovating across the business to position the Company optimally for the future, leveraging its fully integrated model to build long‑term customer relationships and maintain a sharp focus on cost, safety, and performance optimization.
Ardmore provides its services through voyage and time charter arrangements, delivering reliable and efficient transportation services to its first-class customer base — all guided and coordinated by our team members at sea and ashore.
Ardmore Shipping Corporation Unaudited Condensed Consolidated Balance Sheets
| ||||
As of | ||||
In thousands of | March 31, 2026 | December 31, 2025 | ||
ASSETS | ||||
Current assets | ||||
Cash and cash equivalents | 47,214 | 46,845 | ||
Receivables, net of allowance for bad debts of | 52,780 | 47,537 | ||
Prepaid expenses and other assets | 4,660 | 3,687 | ||
Advances and deposits | 5,548 | 4,869 | ||
Inventories | 13,039 | 8,912 | ||
Vessel held for sale | 22,944 | — | ||
Total current assets | 146,185 | 111,850 | ||
Non-current assets | ||||
Investments and other assets, net | 4,941 | 4,983 | ||
Vessels and vessel equipment, net | 607,939 | 638,123 | ||
Deferred drydock expenditures, net | 24,151 | 27,068 | ||
Deferred finance fees, net | 4,701 | 4,920 | ||
Operating lease, right-of-use asset | 1,685 | 1,780 | ||
Total non-current assets | 643,417 | 676,874 | ||
TOTAL ASSETS | 789,602 | 788,724 | ||
LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY | ||||
Current liabilities | ||||
Accounts payable | 12,249 | 5,066 | ||
Accrued expenses and other liabilities | 15,742 | 18,585 | ||
Deferred revenue | 1,452 | 1,598 | ||
Current portion of operating lease obligations | 585 | 598 | ||
Total current liabilities | 30,028 | 25,847 | ||
Non-current liabilities | ||||
Non-current portion of long-term debt | 103,359 | 127,000 | ||
Non-current portion of operating lease obligations | 1,161 | 1,272 | ||
Other non-current liabilities | 268 | 268 | ||
Total non-current liabilities | 104,788 | 128,540 | ||
TOTAL LIABILITIES | 134,816 | 154,387 | ||
Stockholders' equity | ||||
Common stock | 444 | 443 | ||
Additional paid in capital | 479,149 | 478,619 | ||
Treasury stock | (33,524) | (33,524) | ||
Retained earnings | 208,717 | 188,799 | ||
Total stockholders' equity | 654,786 | 634,337 | ||
Total redeemable preferred stock and stockholders' equity | 654,786 | 634,337 | ||
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY | 789,602 | 788,724 | ||
Ardmore Shipping Corporation Unaudited Condensed Consolidated Statements of Operations
| ||||
Three Months Ended | ||||
In thousands of | March 31, 2026 | March 31, 2025 | ||
Revenue, net | 87,916 | 73,996 | ||
Voyage expenses | (25,927) | (31,032) | ||
Vessel operating expenses | (17,808) | (15,196) | ||
Time charter-in | ||||
Operating expense component | (496) | (3,039) | ||
Vessel lease expense component | (456) | (2,796) | ||
Depreciation | (9,384) | (7,653) | ||
Amortization of deferred drydock expenditures | (1,845) | (923) | ||
General and administrative expenses | ||||
Corporate | (5,184) | (4,950) | ||
Commercial and chartering | (1,233) | (1,237) | ||
Interest expense and finance costs | (2,089) | (935) | ||
Interest income | 194 | 108 | ||
Income before taxes | 23,688 | 6,343 | ||
Income tax | (55) | (26) | ||
Loss from equity method investments | (50) | (64) | ||
Net Income | 23,583 | 6,253 | ||
Preferred dividends | — | (629) | ||
Net Income attributable to common stockholders | 23,583 | 5,624 | ||
Earnings per share, basic | 0.58 | 0.14 | ||
Earnings per share, diluted | 0.58 | 0.14 | ||
Adjusted earnings (1) | 23,583 | 5,624 | ||
Adjusted earnings per share, basic | 0.58 | 0.14 | ||
Adjusted earnings per share, diluted | 0.58 | 0.14 | ||
Weighted average number of shares outstanding, basic | 40,752,969 | 40,472,079 | ||
Weighted average number of shares outstanding, diluted | 40,857,533 | 40,620,908 | ||
(1) | Adjusted earnings is a non-GAAP measure and is defined and reconciled under the "Non-GAAP Measures" section. | |||||||||||
Ardmore Shipping Corporation Unaudited Condensed Consolidated Statements of Cash Flows
| ||||
Three Months Ended | ||||
In thousands of | March 31, 2026 | March 31, 2025 | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Net income | 23,583 | 6,253 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation | 9,384 | 7,653 | ||
Amortization of deferred drydock expenditures | 1,845 | 923 | ||
Share-based compensation | 531 | 647 | ||
Amortization of deferred finance fees | 220 | 269 | ||
Operating lease ROU - lease liability, net | (30) | 35 | ||
Loss from equity method investments | 50 | 64 | ||
Deferred drydock payments | (1,398) | (1,454) | ||
Changes in operating assets and liabilities: | ||||
Receivables | (5,241) | 13,130 | ||
Prepaid expenses and other assets | (974) | (757) | ||
Advances and deposits | (679) | (460) | ||
Inventories | (4,127) | 118 | ||
Accounts payable | 6,423 | 1,270 | ||
Accrued expenses and other liabilities | (36) | (1,149) | ||
Deferred revenue | (146) | (285) | ||
Net cash provided by operating activities | 29,405 | 26,257 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Payments for acquisition of vessels and vessel equipment, including deposits | (1,024) | (2,385) | ||
Advances for vessel equipment | (639) | (1,151) | ||
Payments for other non-current assets | (66) | (46) | ||
Net cash (used in) investing activities | (1,729) | (3,582) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Proceeds from revolving facilities, net | 6,359 | 25,000 | ||
Repayments on revolving facilities | (30,000) | (43,337) | ||
Payment of common share dividends | (3,666) | (3,236) | ||
Payment of preferred share dividends | — | (643) | ||
Net cash (used in) financing activities | (27,307) | (22,216) | ||
Net increase in cash and cash equivalents | 369 | 459 | ||
Cash and cash equivalents at the beginning of the year | 46,845 | 46,988 | ||
Cash and cash equivalents at the end of the period | 47,214 | 47,447 | ||
Ardmore Shipping Corporation Unaudited Other Operating Data
| ||||
Three Months Ended | ||||
March 31, 2026 | March 31, 2025 | |||
In thousands of | ||||
Adjusted EBITDA(1) | 36,812 | 15,746 | ||
Adjusted EBITDAR(1) | 37,268 | 18,542 | ||
AVERAGE DAILY DATA | ||||
Fleet TCE per day(2) | 28,686 | 20,542 | ||
Fleet operating expenses per day(3) | 7,244 | 6,978 | ||
Technical management fees per day(4) | 525 | 533 | ||
7,769 | 7,511 | |||
MR Tankers Spot TCE per day(2) | 33,705 | 21,548 | ||
Vessel operating expenses per day(5) | 7,921 | 7,634 | ||
Chemical Tankers Spot TCE per day(2) | 22,284 | 14,975 | ||
Vessel operating expenses per day(5) | 7,286 | 7,185 | ||
FLEET | ||||
Average number of operating vessels | 26.0 | 26.0 | ||
(1) | Adjusted EBITDA and Adjusted EBITDAR are non-GAAP measures and are defined and reconciled to the most directly comparable | |||||||||||
(2) | Time Charter Equivalent ("TCE") rate, a non-GAAP measure, represents net revenues (a non-GAAP measure representing revenues less voyage expenses) divided by revenue days. Revenue days are the total number of calendar days the vessels are in the Company's possession less off-hire days generally associated with drydocking or repairs and idle days associated with repositioning of vessels held for sale. Net revenue utilized to calculate the TCE rate is determined on a discharge to discharge basis, which is different from how the Company records revenue under | |||||||||||
(3) | Fleet operating expenses per day are routine operating expenses and comprise crewing, repairs and maintenance, insurance, stores, lube oils and communication expenses. These amounts do not include expenditures related to vessel upgrades and enhancements or other non-routine expenditures, which were expensed during the period. | |||||||||||
(4) | Technical management fees consist of payments to Anglo Ardmore Ship Management Limited, a joint venture entity of which we own | |||||||||||
(5) | Vessel operating expenses per day include technical management fees. | |||||||||||
Non-GAAP Measures
EBITDA + vessel lease expense component (i.e., EBITDAR) and Adjusted EBITDAR
EBITDAR is defined as EBITDA (i.e., earnings before interest, unrealized gains/(losses) on interest rate derivatives, taxes, depreciation and amortization) plus the vessel lease expense component of total charter hire expense for chartered-in vessels. Adjusted EBITDAR is defined as EBITDAR before certain items that Ardmore believes are not representative of its operating performance, including gain or loss on sale of vessels.
For the three months ended March 31, 2026, the Company recognized total charter hire expense of
Many companies in Ardmore's industry report under IFRS; the Company therefore uses EBITDAR and Adjusted EBITDAR as tools to compare its valuation with the valuation of these other companies in its industry. The Company does not use EBITDAR and Adjusted EBITDAR as measures of performance or liquidity. The Company presents below reconciliations of net income / (loss) attributable to common stockholders to EBITDAR (which includes an adjustment for vessel lease operating expenses) and Adjusted EBITDAR.
EBITDAR and Adjusted EBITDAR, as presented, may not be directly comparable to similarly titled measures presented by other companies. In addition, EBITDAR and Adjusted EBITDAR should not be viewed as measures of overall performance since they exclude vessel rent, which is a normal, recurring cash operating expense related to the Company's in-chartering of vessels that is necessary to operate its business. Accordingly, you are cautioned not to place undue reliance on this information.
EBITDA, Adjusted EBITDA, Adjusted Earnings and Adjusted Earnings (for purposes of dividend calculations)
EBITDA, Adjusted EBITDA and Adjusted earnings are not measures prepared in accordance with
EBITDA, Adjusted EBITDA and Adjusted earnings are presented in this press release as the Company believes that they provide investors with a means of evaluating and understanding how Ardmore's management evaluates operating performance. EBITDA and Adjusted EBITDA increase the comparability of the Company's fundamental performance from period to period. This increased comparability is achieved by excluding the potentially disparate effects between periods of interest expense, taxes, depreciation or amortization, which items are affected by various and possibly changing financing methods, capital structure and historical cost basis and which items may significantly affect net income between periods. The Company believes that including EBITDA, Adjusted EBITDA and Adjusted earnings as financial and operating measures assists investors in making investment decisions regarding the Company and its common stock.
For purposes solely of the quarterly common dividend calculation, Adjusted earnings represents the Company's Adjusted earnings for the quarter ended March 31, 2026, but excluding the impact of unrealized gains / (losses) and certain non-recurring items.
These non-GAAP measures should not be considered in isolation from, as substitutes for, or superior to, financial measures prepared in accordance with
Reconciliation of net income to EBITDA, Adjusted EBITDA and Adjusted EBITDAR | ||||
Three Months Ended | ||||
March 31, 2026 | March 31, 2025 | |||
In thousands of | ||||
Net income | 23,583 | 6,253 | ||
Interest income | (194) | (108) | ||
Interest expense and finance costs | 2,089 | 935 | ||
Income tax | 55 | 26 | ||
Depreciation | 9,384 | 7,653 | ||
Amortization of deferred drydock expenditures | 1,845 | 923 | ||
EBITDA | 36,762 | 15,682 | ||
Loss from equity method investments | 50 | 64 | ||
ADJUSTED EBITDA | 36,812 | 15,746 | ||
Plus: Vessel lease expense component | 456 | 2,796 | ||
ADJUSTED EBITDAR | 37,268 | 18,542 | ||
Reconciliation of net income attributable to common stockholders to Adjusted earnings | ||||
Three Months Ended | ||||
March 31, 2026 | March 31, 2025 | |||
In thousands of | ||||
Net income attributable to common stockholders | 23,583 | 5,624 | ||
Adjusted earnings | 23,583 | 5,624 | ||
Adjusted earnings per share, basic | 0.58 | 0.14 | ||
Adjusted earnings per share, diluted | 0.58 | 0.14 | ||
Weighted average number of shares outstanding, basic | 40,752,969 | 40,472,079 | ||
Weighted average number of shares outstanding, diluted | 40,857,533 | 40,620,908 | ||
Adjusted earnings for purposes of dividend calculation | ||||
Three Months Ended | ||||
March 31, 2026 | ||||
In thousands of | ||||
Adjusted earnings | 23,583 | |||
Unrealized gains | — | |||
Adjusted earnings for purposes of dividend calculation | 23,583 | |||
Dividend to be paid | 15,913 | |||
Dividend Per Share (DPS) | 0.39 | |||
Number of shares outstanding as of May 7, 2026 | 40,802,614 | |||
Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, expectations, projections, strategies, beliefs about future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe", "anticipate", "intend", "estimate", "forecast", "project", "plan", "potential", "should", "may", "will", "expect" and similar expressions are among those that identify forward-looking statements.
Forward-looking statements in this press release include, among others, statements regarding: future operating or financial results, including future earnings and financial position; the Company's future strategic priorities; fleet expansion and vessel and business acquisitions and divestitures, and the timing and pricing thereof; global and regional economic and political conditions and trends; shipping market trends and market fundamentals, including tanker demand and supply and future spot and charter rates; the potential effects of tariffs, and other foreign policy activities, including sanctions, embargoes, and import and export restrictions on global markets, the shipping industry and the Company's operations; the potential effect of geopolitical conflicts, including the
In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include: the strength of world economies and currencies; general market conditions, including fluctuations in spot and charter rates and vessel values; changes in demand for and the supply of tanker vessel capacity; changes in the projections of spot and time charter or pool trading of the Company's vessels; geopolitical conflicts and developments, including, among others, future developments relating to the
Investor Relations Enquiries:
Mr. Leon Berman | Mr. Bryan Degnan |
IGB Group | IGB Group |
32 Broadway, Suite 1314 | 32 Broadway, Suite 1314 |
Tel: 212‑477‑8438 | Tel: 646‑673‑9701 |
Fax: 212‑477‑8636 | Fax: 212‑477‑8636 |
Email: lberman@igbir.com | Email: bdegnan@igbir.com |
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SOURCE Ardmore Shipping Corporation