Ardmore Shipping Corp(ASC)- NYSE
  • Wed, Jun. 8, 9:16 AM
    | Wed, Jun. 8, 9:16 AM | 1 Comment
  • Tue, Jun. 7, 4:43 PM
    • Ardmore Shipping (NYSE:ASC) -13.6% AH on news it is acquiring six modern, Eco-Design MR product/chemical tankers for $172.5M.
    • ASC says the purchase will expand its fleet to 28 vessels, or by ~32% on a tonnage basis, and is expected to be accretive to earnings and to net asset value.
    • To help fund the deal, ASC announces a public offering of 7.5M common shares, with an underwriters option to purchase up to an additional 1.125M shares.
    | Tue, Jun. 7, 4:43 PM | 14 Comments
  • Wed, Feb. 3, 12:49 PM
    | Wed, Feb. 3, 12:49 PM | 1 Comment
  • Tue, Jan. 12, 11:56 AM
    • Tanker investors should re-think their strategy headed into 2016, rotating from companies with exposure to crude oil prices and into companies with product tanker exposure, J.P. Morgan analyst Noah Parquette says.
    • While expecting 2016 rates to remain relatively strong, Parquette sees significantly lower rates for crude tankers in 2017-19 due to the firm's new view on the supply/demand balance as vessel deliveries accelerate, demand growth slows with global crude production, crude inventory drawdown occurs, and vessel efficiency improves.
    • JPM downgrades Teekay Tankers (TNK -15.1%), DHT Holdings (DHT -9.3%) and Euronav (EURN -6.4%), while maintaining Overweight ratings on Tsakos Energy Navigation (TNP -13%), Navios Maritime Acquisition (NNA -6.9%), Ardmore Shipping (ASC -6%) and Scorpio Tankers (STNG -5.3%).
    | Tue, Jan. 12, 11:56 AM | 81 Comments
  • Nov. 3, 2015, 9:14 AM
    | Nov. 3, 2015, 9:14 AM
  • Jul. 21, 2015, 10:32 AM
    • The crash in oil prices is good for business for operators of the supertankers capable of hauling more than 2M barrels of crude around the world, such as Frontline (FRO +9.1%), Teekay Tankers (TNK +4.2%), Nordic American (NAT +2.6%), DHT Holdings (DHT +2.4%) and Euronav (EURN +1.5%), whose stocks have been moving up in recent weeks.
    • The oil market rout that started in 2014 is a boon that could allow the companies to reduce debt, invest in new vessels and reward shareholders that have stuck with them through some very lean years, FT reports.
    • Since the start of the year, the cost of hiring a VLCC has jumped more than 50%, with the rate for shipping oil from Saudi Arabia to Japan - the benchmark supertanker route - rising to $93.6K/day, a seven-year seasonal high.
    • The supply of supertankers also has fallen sharply since 2008.
    • Other related tickers: GLNG, GNRT, SFL, NAO, ASC, TOO, TK, TGP
    | Jul. 21, 2015, 10:32 AM | 30 Comments
Company Description
Ardmore Shipping Corp. provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies, with its modern, fuel-efficient fleet of mid-size product and chemical tankers. The company was founded... More
Sector: Services
Industry: Shipping
Country: Ireland