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Ardmore books deficit in third quarter after big rate drop

Ardmore becomes the latest product tanker operator to report a weaker market after the boom seen in the first half of the year. The company expects a stronger market in 2021.

Photo: Marine Money

The boom experienced by the tanker operators in the spring is over, and instead the market has now settled into a new period with sliding rates.

Irish product tanker operator Ardmore Shipping becomes the latest in line to report this development. The company's bottom line for the quarter came to a deficit of USD 6.6 million.

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