Ardmore's headquarters in the Irish city of Cork draws upon lessons from its Singapore office, which was first to be impacted by the coronavirus outbreak. In the end, the crisis could lead to lasting changes in the oil market, projects CEO Anthony Gurnee.
Irish tanker company Ardmore Shipping approaches its highest rates ever, but also warns against being fooled by the numbers. If Saudi Arabia and Russia strike a deal, things will turn around with one stroke, CEO Anthony Gurnee tells ShippingWatch.
Ardmore Shipping has begun publishing details about its ships' CO2 emissions. The measuring will continue going forward, even though it is still "really early days" for the shipping sector's CO2 disclosures, CEO Anthony Gurnee tells ShippingWatch.
Ardmore Shipping has just appointed Kirsi Tikka to its board of directors. Tikka has several years of experience from American Bureau of Shipping, from which she resigned earlier this year. She is also on the board of Pacific Basin.
After a weak second quarter for the product tanker market, Norden CEO Jan Rindbo is now detecting the effects of the IMO's sulfur regulations. He explains to ShippingWatch why earnings of at least USD 23 million from this business area is feasible for the rest of 2019.
The deficit grew at Ardmore Shipping in the second quarter, when rates were allegedly kept down by refineries undergoing preparations for the IMO sulfur cap. The product tanker shipping company expects significant improvements going forward.
Underskuddet voksede hos Ardmore Shipping i andet kvartal, hvor raterne angiveligt blev holdt nede af raffinaderiernes forberedelser til IMO's svovlkrav. Produkttank-rederiet forventer markant bedring fremadrettet.
Maersk Tankers wanted to acquire Hafnia's fleet, but was beaten by BW Group and the Sohmen-Pao family with an attractive offer to buy the entire shipping company. ShippingWatch reconstructs the story about how one of the world's biggest product tanker carriers was created.
Oil consumption and a record low order book are some of the reasons behind a product tanker recovery in 2019, predicts Ardmore's CEO. However, the carrier's deficit grew in both the fourth quarter and for the whole of 2018.
The Irish tanker carrier points to increasing MR rates in the fourth quarter, but a real recovery is not expected until late next year, says CEO Anthony Gurnee to ShippingWatch, contradicting announcements from Torm and Concordia Maritime.
Shipowners and analysts project solid demand growth for product tanker ahead of the new global sulfur regulations in 2020. But many elements remain uncertain, and there is a lack of concrete data, renowned analyst tells ShippingWatch.
Deutsche Bank expects a significantly bigger surge in demand for product tanker with the IMO's upcoming 2020 sulfur regulations than the shipowners do themselves. The bank has described the sulfur cap as a potential game changer.
Anthony Gurnee, CEO of Irish firm Ardmore, expects that the upcoming sulfur regulations of 2020 will mark a positive turning point for product tanker carriers. Demand could rise by up to five percent, he tells ShippingWatch.
Product tanker carrier Ardmore saw its deficit grow in the first quarter 2018. Despite this fact, CEO Anthony Gurnee still eyes potential for market improvement picking up speed during the year. New sulfur regulations could "boost" demand, projects JP Morgan.
Though Ardmore's revenue overall increased slightly more than USD 30 million, the carrier booked a deficit in 2017. The charter market was "soft" during the year, says CEO, noting bright spots in 2018.