ASC News & Events

Ardmore Shipping provided the an update on capital allocation, vessel sale, and latest TCE guidance. The Company signed contracts for the construction of two highly-efficient and versatile 40,500 dwt Handysize product/chemical tankers at Wuhu Shipyard, at a price of $44.9M per vessel, inclusive of approximately $3M for full IMO2 specification and MarineLine tank coatings. In addition, the Company is commissioning various performance and safety upgrades. The agreement also includes options to acquire two additional vessels on the same terms. Deliveries are scheduled from late 2028. Effective 1Q, Ardmore is doubling its dividend payout ratio to common shareholders to two-thirds of adjusted earnings. The Company agreed to sell a 2014-built MR tanker for $35.5 million, with delivery scheduled for June 2026. The Company provided the following preliminary update on its estimated Time Charter Equivalent market performance. Q1 Spot MR Tankers $33,700 / day for 1,310 revenue days; and Spot Chemical Tankers $22,300 / day for 319 revenue days. Q2 To-Date Spot MR Tankers $50,000 / day with 50% fixed; Spot Chemical Tankers $32,100 / day with 65% fixed.

Reports Q4 revenue $82.9M vs. $82.0M last year. CEO Gernot Ruppelt commented: "Ardmore delivered a strong finish to 2025 and is carrying that momentum into the start of 2026, with earnings benefiting from increased revenue days following the expansion of our owned fleet and the completion of our scheduled drydocking program including multiple vessel upgrades. Freight markets have continued to rally due to long-term structural trends and near-term geopolitical dynamics. We are capturing these conditions through strong spot market exposure and Ardmore's global operating platform, while locking in selective high-quality term charters to reinforce a robust earnings profile. As ever, we remain nimble in positioning Ardmore optimally within a complex, fast-moving environment, while staying focused on our strategic priorities and delivering long-term value."

Reports Q3 revenue $$81.24M, consensus $50.75M. Gernot Ruppelt, the Company's CEO, commented: " Earnings have increased throughout the third quarter and into the fourth, driven by record volumes of refined product on the water. During the quarter, Ardmore took delivery of three modern MR tankers, opportunistically acquired at attractive prices. Now fully integrated into our fleet, these vessels are capturing strong spot markets, increase the company's long-term earnings power and provide compelling fuel savings. In addition, we are further enhancing the value of our trading book through high-quality multi-year charter contracts with top-tier counterparties. In line with our transparent capital allocation policy, we have also fully redeemed our outstanding preferred shares while declaring our twelfth consecutive dividend.