Ardmore Shipping: Lackluster Shareholders Returns, Better Value Elsewhere (Rating Downgrade)

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 ...