Ardmore Shipping takes big hit in 2016

Ardmore Shipping saw its full-year result plunge, and the product tanker carrier suffered a deficit in the final quarter of 2016. The carrier's CEO attributes the decline to high inventory levels and a large influx of vessels, though he is optimistic about developments going forward.

by DANIEL LOGAN

Irish product tanker carrier Ardmore Shipping finished 2016 on a low note after a strong start to the year.

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Ardmore: Weak product market for another 2 to 3 quarters
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Tanker carriers have burned through millions this year
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Ardmore CEO: Strong product tanker rates will return
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