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Ardmore ended 3rd quarter with a small profit

While rivals among the new eco-design product tanker carriers have all reported deficits, Irish carrier Ardmore just managed to sneak into the black.

Photo: Ardmore

Irish-based product tanker carrier Ardmore Shipping Corporation barely managed to push its bottom line into the black with a net result of USD 117,000 in the 3rd quarter, compared to a deficit of USD 920,000 in the same period last year.

According to Ardmore, the quarter was fairly strong in spite of challenging market conditions. Average daily rates for Ardmore's new eco-design MR product tankers finished at USD 15,237 in the quarter, while rates for the retrofitted part of the MR fleet came to USD 13,919 per day.

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