Welcome to our dedicated page for Ardmore Shipping news (Ticker: ASC), a resource for investors and traders seeking the latest updates and insights on Ardmore Shipping stock.
Ardmore Shipping Corporation reports developments in seaborne transportation of refined petroleum products, energy products, chemicals and other liquid goods. The company owns and operates MR product tankers and IMO 2 product/chemical tankers in the mid-size range, serving oil majors, national oil companies, oil and chemical traders, and chemical companies through voyage charters, commercial pools and time charters.
Recurring company updates cover quarterly results, time charter equivalent rates, revenue days, spot-market exposure, vessel drydocking and upgrades, charter commitments, fleet sales and newbuilding investments. News also addresses capital allocation, dividends, preferred-stock actions, balance-sheet priorities and management commentary on product and chemical tanker supply, demand, trade patterns and geopolitical effects on routes and vessel demand.
Ardmore Shipping Corporation (NYSE: ASC) reported a net loss of $12.8 million for Q3 2021, with a loss per share of $0.37, up from a $6.6 million loss in Q3 2020. EBITDA fell to $1.3 million from $7.2 million year-over-year. For the nine months ended September 30, 2021, the net loss was $29.5 million, or $0.88 loss per share, compared to a profit of $13.5 million in the same period last year. Despite challenging market conditions, Ardmore emphasizes a potential turnaround in the product and chemical tanker markets, with improved TCE rates and a strong balance sheet.
Ardmore Shipping Corporation (NYSE: ASC) will announce its third quarter earnings on November 10, 2021, before market open. A conference call will follow at 10:00 a.m. Eastern Time, accessible via dial-in and live webcast from its website. The audio replay will be available until November 17. Ardmore operates a fleet of mid-size product and chemical tankers, focusing on cost efficiency and sustainable cargo as part of its Energy Transition Plan. The company aims to strengthen its commercial relationships and enhance operational efficiencies.
Ardmore Shipping Corporation (NYSE: ASC) has completed its annual securities filings review, filing a shelf registration statement with the SEC to register $400 million of primary securities. The company plans to replace its existing shelf statement and ATM program, which expire on October 5, 2021, with a new ATM program allowing for common shares sales of up to $50 million. Ardmore focuses on modernizing its fleet of MR product and chemical tankers and advancing its Energy Transition Plan, established to explore sustainable cargo options.
Ardmore Shipping Corporation (NYSE: ASC) reported a net loss of $8.1 million for Q2 2021, a significant decline from a net income of $13.6 million in Q2 2020. The loss amounted to $0.24 per share, and adjusted losses reached $7.6 million. EBITDA dropped to $5.4 million, down from $27.9 million year-over-year. Revenue fell 30.3% to $47.3 million. Despite these challenges, Ardmore completed strategic investments, including a joint venture in methanol-to-hydrogen technology, aiming at energy transition and financial flexibility.
Ardmore Shipping Corporation (NYSE: ASC) will report its second quarter earnings on July 27, 2021, before the market opens, followed by a conference call at 10:00 a.m. Eastern Time. Participants can access the call via dial-in or through a live webcast on the company's website. An audio replay will be available until August 3. Ardmore operates a fleet of mid-size product and chemical tankers and focuses on developing its modern fleet, building commercial relationships, and improving operational efficiency. The company has also initiated an Energy Transition Plan to invest in sustainable technologies.
Ardmore Shipping Corporation (NYSE: ASC) announced its CFO, Paul Tivnan, will present at Maxim Group's Future of Shipping Virtual Conference on June 29, 2021, at 10:30 am ET. The panel, titled Tanker Industry Update: Future Vessel Supply and Industry Trends, will discuss key trends in the tanker sector. A live webcast of the presentation is available through the conference website. Ardmore operates a fleet of product and chemical tankers and focuses on modernizing its fleet while pursuing sustainable practices through its Energy Transition Plan.
Ardmore Shipping Corporation (NYSE: ASC) has finalized strategic agreements for a significant investment in Element 1 Corp.'s methanol-to-hydrogen technology, establishing the e1 Marine joint venture and acquiring a 10% equity stake in Element 1 Corp. Additionally, Maritime Partners, LLC will invest between $25 million and $40 million in Ardmore's newly created Series A 8.5% Cumulative Redeemable Perpetual Preferred Shares. Stuart Crawford has been appointed as Managing Director of e1 Marine, bringing over 35 years of experience in the marine industry.
Ardmore Shipping Corporation (NYSE: ASC) reported a net loss of $8.5 million or $0.26 per share for Q1 2021, a decline from the net income of $6.5 million in Q1 2020. Revenue dropped to $45.6 million, a decrease of $19.6 million year-over-year. EBITDA fell sharply to $4.5 million from $21 million in the previous year. The company is focusing on its Energy Transition Plan, including a joint venture with Element 1 Corp. and a strategic investment in hydrogen technology. Despite the challenges, Ardmore expects positive long-term prospects for product and chemical tanker markets.
Ardmore Shipping Corporation (NYSE: ASC) will announce its first quarter earnings before the market opens on May 5, 2021. A conference call is scheduled for 10:30 a.m. Eastern Time on the same day. Investors can access the call via dial-in or through a live webcast available on Ardmore's website. An audio replay of the call will be available until May 12. Ardmore operates a fleet of mid-size tankers, focusing on fuel efficiency and modern fleet development as part of its ongoing Energy Transition Plan.
Ardmore Shipping Corporation (NYSE: ASC) has signed a Letter of Intent to establish a joint venture with Element 1 Corp. and Maritime Partners, LLC. This partnership aims to deliver innovative methanol-to-hydrogen technology to the marine sector, promoting the use of cleaner energy. Ardmore will own a 33.3% stake in the venture, named e1 Marine, dedicated to developing and marketing hydrogen generation systems. Maritime Partners will invest $40 million in Ardmore while Ardmore will acquire a 10% equity stake in E1 for $4 million and common shares. Estimated total consideration is $11 million. The deal is set to close in early Q2 2021.