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home / news releases / ASC - Ardmore Shipping Corporation: More Pain No Gain

ASC - Ardmore Shipping Corporation: More Pain No Gain

Ardmore Shipping Corporation
  • The company has a fleet of petroleum product tankers with a few chemical tankers.
  • It earned around $20,000/day per tanker during the first half of 2020.
  • Rates fell, but it expected them to rise going into the 4th quarter and added two tankers to its fleet.
  • But rates have instead collapsed due to lower petroleum demand.
  • And BP projects in two scenarios that oil demand will never be restored to pre-COVID-19 levels, it has peaked.

For further details see:

Ardmore Shipping Corporation: More Pain, No Gain
Stock Information
Company Name: Ardmore Shipping Corporation
Stock Symbol: ASC
Market: NYSE
Website: ardmoreshipping.com
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