Ardmore Shipping Sees Q3 95% Of Its Revenue Days For Its MR Tankers Employed In The Spot Market With Remaining 5% Of Revenue Days Subject To Time Charters; Expects To Have All Revenue Days For Its Eco-Design IMO 2 Product / Chemical Tankers Employed In The Spot Market
Portfolio Pulse from Benzinga Newsdesk
Ardmore Shipping reported that 95% of its MR tankers' revenue days in Q3 are employed in the spot market, with the remaining 5% on time charters. The company expects all revenue days for its Eco-Design IMO 2 product/chemical tankers to be employed in the spot market.
July 31, 2024 | 12:06 pm
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Ardmore Shipping's Q3 performance shows a strong reliance on the spot market for its MR tankers, with 95% of revenue days employed there. The company also expects all revenue days for its Eco-Design IMO 2 tankers to be in the spot market.
The high percentage of revenue days in the spot market indicates strong demand and potential for higher earnings, which is positive for Ardmore Shipping's short-term stock performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100