Ardmore: Weak product market for another 2 to 3 quarters

Trade activity in oil below average and de-stocking sent the NYSE-listed product tanker carrier Ardmore Shipping into the red in the third quarter.

by GRETCHEN PEDERSEN

Irish-based product tanker carrier Ardmore Shipping, listed on the New York Stock Exchange, suffered a net loss of USD 4.8 million in the third quarter this year, down from a net profit of USD 13.6 million in the same period 2015, according to Ardmore's interim report released Wednesday.

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Ardmore: Weak product market for another 2 to 3 quarters

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Ardmore CEO: Strong product tanker rates will return

Deutsche Bank: Weak tanker growth could spark a shopping spree

Three top players in product tanker get boost from ABN Amro

Sign up for our newsletter

Front page now

Maritime & Merchant notes fierce competition in loans for shipping

14 arrested at demonstration in front of Maersk headquarters

Norwegian car carriers bag multi-year contracts

IMO's fossil fuel ban in the Arctic faces criticism

Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Less than one percent of the container fleet is currently idle

Congestion in Asian ports is now as bad as during Covid

Analysis: Capesizes have become too expensive despite strong market

UK Chamber of Shipping calls for more trade-friendly policies

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

Jobs