Ardmore Shipping’s share price rose 3.9% following results driven by market strength and accelerating TCE rates, which notably outpaced the company’s breakeven levels and supported an increased dividend payout.
- Q1 adjusted earnings were $23.6 million ($0.58 per share), with a dividend declared at $0.39 per share following an increased payout ratio to two-thirds of adjusted earnings.
- MR tanker average daily earnings reached $33,700 in Q1 and have jumped to $52,100 in Q2 with 55% of capacity already booked.
- Chemical tanker rates also improved, posting $22,300 per day in Q1 and $32,500 per day in Q2 with 65% booked.
- The firm capitalized on market tightness through opportunistic asset sales and newbuild orders for IMO2-compliant Handysize vessels, enhancing flexibility and premium cargo access.
- Market dynamics continue to benefit from Middle East disruptions causing longer voyage lengths, vessel shortages, and rerouted trade flows that are tightening supply and sustaining rate momentum.
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