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Ardmore CEO believes in further recovery for product tanker

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.

Photo: Ardmore Shipping
BY

While competitors at the end of 2019 reported recovery in the product tanker market in the fourth quarter, Anthony Gurnee, CEO of Irish Ardmore Shipping, was cautious. A real recovery for the hungry product tanker market will first emerge at the end of 2019, he said.

However, the prospects for the product tanker market are positive, he says in the wake of the release of Ardmore's fourth quarter report, which has just been published.

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More from ShippingWatch

Norden books "fantastic" second-quarter result

Photo: PR / Norden

Product tanker and dry bulk company Norden bags a result for the second quarter that the carrier itself describes as ”fantastic.” CEO Jan Rindbo says this is due to the ”exceptional” product tanker rates, according to a financial statement.

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