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Ardmore books new deficit despite recovery signs

Ardmore is seeing headwinds on the weak tanker market and booked a larger deficit for 2021 than 2020. However, management is seeing clear signs of improvement in last year’s fourth quarter and this year’s first.

Anthony Gurnee, CEO, Armore Shipping Corporation. | Photo: PR/Ardmore Shipping

Product tanker carrier Ardmore Shipping Corporation came out of 2021 with a net loss of USD 38.1m - a severe setback compared to the USD 6m the company lost in 2020.

According to a statement by Ardmore, the company secured an operating result (EBITDA) of USD 16.6m last year against USD 57m in 2020.

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