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Ardmore will continue to grow in 2015

Irish product tanker carrier Ardmore Shipping made a profit in three of four quarters in 2014. The carrier is confident that 2015 will bring a recovery for the product tanker market, and thus for Ardmore as well. Analysts are also optimistic.

Ardmore product tanker Seaventure | Photo: Ardmore

Product tanker carrier Ardmore, based in Ireland and listed in Bermuda, published an annual report for 2014 on Tuesday that shows growth for the carrier almost throughout the whole year.

"For the twelve months ended December 31, 2014, the Company reported EBITDA (result before taxes and impairments) of  USD 22.7 million, an increase of USD 13.2 million from USD 9.5 million for the twelve months ended December 31, 2013," says Ardmore in the report.

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