HAMILTON, Bermuda, March 15, 2024 /PRNewswire/ -- Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore" or the "Company") announced today that it has filed its Annual Report on Form 20-F for the year ended December 31, 2023 (the "Form 20-F") with the U.S. Securities and Exchange Commission (the "SEC"). In compliance with the New York Stock Exchange rules, a copy of the Form 20-F can be found in the Investor Relations section of the Company's website, www.ardmoreshipping.com, under SEC Filings. About Ardmore S ...

NONE (Title of class) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO ...

The initiation of coverage by new analysts can be highly advantageous for investors and has a substantial impact on financial markets. Analysts typically possess in-depth knowledge and expertise in particular industries or sectors. Through their thorough research and analysis, they furnish investors with valuable perspectives on a company's financial well-being, potential for growth, competitive standing and the prevailing industry trends. Such insights can be challenging for individual investors to acquire ...

Ardmore Shipping (ASC) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this shipping company have returned -5.5% over the past month versus the Zacks S&P 500 composite's +2.1% change. The Zacks Transportation - Shipping industry, to which Ardmore Shipping belongs, has gained 3.1% over this period. Now the key question is: Where could the stock be headed in the near ter ...

One stock that might be an intriguing choice for investors right now is Ardmore Shipping Corporation (ASC) . This is because this security in the Transportation - Shipping space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking pl ...

Ardmore Shipping (ASC) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this shipping company have returned -0.1%, compared to the Zacks S&P 500 composite's +5.2% change. During this period, the Zacks Transportation - Shipping industry, which Ardmore Shipping falls in, has lost 0.5%. The key question now is: What could be the stock's f ...

The significance of recent analyst coverage becomes apparent through the wealth of data it reveals for investors. Analysts have access to essential information that plays a pivotal role in making informed investment decisions.ICU Medical, Inc. (ICUI) and Ardmore Shipping Corporation (ASC) are two stocks that have witnessed new analyst coverage lately. These are, therefore, expected to attract investor attention.Coverage initiation on a stock by analyst(s) usually portrays higher investor inclination. Invest ...

Miragest/iStock via Getty Images Ardmore Shipping (NYSE:ASC) is a global shipping company specializing in the ownership and operation of product and chemical tankers. ASC owns a fleet of 22 midsize eco product tankers, complemented by an additional 4 vessels through charter agreements. In a recent development, ASC has successfully finalized the acquisition of a 2017-MR vessel for $42 million and divested its oldest MR vessel, constructed in 2010, for $27.1 million. I have covered Ardmore Shipping previously ...

Financial Data and Key Metrics Changes - Ardmore Shipping reported earnings of $113 million, or $2.71 per share for the full year 2023, with fourth-quarter adjusted earnings of $26 million, or $0.63 per share, reflecting strong market conditions [8][14] - The company declared a quarterly cash dividend of $0.21 per share, consistent with its policy of paying out one third of adjusted earnings [9][30] - The breakeven level was lowered to $13,900 per day due to effective cost control and reduced debt levels, with nearly $50 million in cash on hand at the end of the quarter [13] Business Line Data and Key Metrics Changes - MRs (Medium Range tankers) earned $32,500 per day in Q4 and $35,400 per day in Q1 2024, while chemical tankers earned $29,300 per day in Q4 and $30,100 per day in Q1 2024 [8][9] - The company completed seven dry dockings in 2023 with a total capital expenditure of nearly $40 million, focusing on energy efficiency technologies [15][18] Market Data and Key Metrics Changes - Refined product tonne-mile demand increased by 11% year-on-year, driven by geopolitical disruptions and climate-related trading restrictions [11] - The EU refined product embargo and reduced traffic in the Panama Canal have significantly impacted supply, with traffic down by up to 30% overall [11][36] - The product tanker order book stands at 13% of the existing fleet, with the MR order book under 8%, indicating limited fleet growth [39][40] Company Strategy and Development Direction - Ardmore Shipping focuses on MR product tankers and chemical tankers, aiming to increase scale and organizational capability while adapting to changing market conditions driven by energy transition [20][21] - The company emphasizes a combination of performance and progress, with a strong focus on relative performance metrics compared to peers [22] - Ardmore's energy transition plan aims to improve fleet efficiency and reduce emissions while meeting ongoing demand for refined products [24][27] Management's Comments on Operating Environment and Future Outlook - Management highlighted robust market conditions strengthening into Q1 2024, driven by geopolitical disruptions and favorable supply-demand fundamentals [18] - The company is well-positioned to benefit from ongoing strong market conditions, with a focus on capital allocation priorities and fleet modernization [9][18] - Management acknowledged the potential for a prolonged bull market, suggesting that the current cycle could last another two to four years [69] Other Important Information - Ardmore Shipping's governance practices have been recognized, ranking as the number one publicly traded tanker company in the Webber ESG Scorecard [23] - The company has invested significantly in energy efficiency technologies, with 50% of its fleet expected to be outfitted with carbon-capture-ready scrubbers [15][24] Q&A Session Summary Question: What percentage of the global fleet can make it around Africa without refueling? - Every ship can technically make the journey, but operationally it may not be practical due to bunker planning and potential bottlenecks in South Africa [60][61] Question: Can Russian refined products be sold through middlemen to other markets? - There are concerns about the potential for Russian crude or products to re-enter the supply chain in the West, but tracking this is complex [66] Question: What was the price of fuel used to calculate the return on capital for environmental savings? - The price of fuel used for calculations was approximately $500 per ton, equating to about $70 per barrel [64][65] Question: How is Ardmore preparing for a potentially longer cycle? - Management is aware of historical patterns and is positioning the company to capitalize on the current market strength while preparing for various outcomes [68][69]

Earnings Presentation Fourth Quarter and Full Year 2023 & Investor Day 2024 To Submit Questions for the Q&A Session Ardmore@IGBIR.com ...