Ardmore Shipping Files Investor Presentation Including Further TCE Rate Analysis


Shipping Corporation (NYSE: ASC) (“Ardmore” or the “Company”) today filed its current investor presentation with the SEC for reference.

In the presentation, the Company provides, among other things, more detailed analysis on spot time charter equivalent (“Spot TCE”) rates for the first and second quarters of 2020. Ardmore considers Spot TCE as employment under voyage charters, trip charters and time charters of less than three months duration, as the Company believes that the short-term nature of these contracts is representative of spot market conditions.

Ardmore’s reported MR TCE rates were $21,256 per day for the second quarter and $19,307 per day for the first quarter 2020, and Ardmore’s Eco-design MR TCE rates were $21,539 per day for the second quarter and $19,564 per day for the first quarter of 2020. Ardmore’s MR Spot TCE rates were $21,841 per day for the second quarter and $19,354 per day for the first quarter of 2020, and Ardmore’s Eco-design MR Spot TCE rates were $22,124 per day for the second quarter and $19,611 per day for the first quarter of 2020.

Ardmore’s investor presentation is also available for download on www.ardmoreshipping.com
Source: Ardmore Shipping Corporation



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