Ardmore Shipping Corp ( (ASC) ) has released its Q1 earnings. Here is a breakdown of the information Ardmore Shipping Corp presented to its investors.
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Ardmore Shipping Corporation is a company that operates a fleet of modern, fuel-efficient MR product and chemical tankers, providing seaborne transportation of petroleum products and chemicals worldwide.
In its latest earnings report for the first quarter of 2025, Ardmore Shipping Corporation announced a net income of $5.6 million, a significant decrease from $38.4 million in the same period last year. The company declared a cash dividend of $0.05 per share, reflecting its variable dividend policy.
Key financial metrics revealed a decline in revenue to $74 million from $106.3 million in the previous year, attributed to decreased spot rates and revenue days. The company’s fleet of 26 vessels reported average TCE rates of $20,942 per day for MR tankers and $14,975 per day for chemical tankers. Leadership changes were also announced, with Robert Gaina set to become COO and John Russell appointed as CFO.
Looking ahead, Ardmore Shipping remains focused on strategic choices to navigate the complex global environment, emphasizing low breakeven levels and cost management. The company is positioned to capitalize on resilient freight levels and strong refining margins, supported by its modern fleet and opportunistic chartering activities.