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Ardmore Shipping Corporation
Ardmore Shipping Corporation is a public company that is listed on the New York Stock Exchange (NYSE) under the ticker symbol "ASC." Ardmore Shipping is a global shipping company that specializes in the transportation of petroleum products, chemicals, and other liquids. Here are some key points about the company:
1. Fleet: Ardmore Shipping has a fleet of 25 vessels, including 15 MR tankers, 6 chemical tankers, 3 product/chemical tankers, and 1 LR2 tanker.
2. Operation: The company's vessels are capable of transporting a wide range of liquids, including gasoline, jet fuel, naphtha, diesel, and chemicals.
3. Business Model: Ardmore Shipping operates its vessels both on spot and long-term charters, as well as in the spot market.
4. Corporate: Ardmore Shipping is incorporated in Bermuda and has its principal executive offices in London.
5. Financial Performance: For the nine months ended September 30, 2022, the company reported a net income of $125.2 million, compared with $48.7 million in the same period in 2021.
6. Dividend: Ardmore Shipping has consistently paid dividends to its shareholders and has recently increased its quarterly cash dividend to $0.25 per share.
7. Industry: Ardmore Shipping operates in the shipping industry, which is subject to various factors such as global demand for oil and petroleum products, geopolitical events, supply and demand imbalances, and environmental regulations.
8. Competition: Ardmore Shipping competes with other shipping companies such as Magellan Midstream Partners, Marathon Petroleum, and Plains All American Pipeline.
9. Analyst Coverage: Ardmore Shipping is covered by several equity analysts, including those from investment banks and financial institutions such as Jefferies, Stifel, and Evercore. The consensus rating on the company's stock is hold.
10. Key Executives: The company's CEO is Anthony Gurnee, who has been in this role since 2013. Other key executives include the Chief Financial Officer, Executive Vice President, Chief Operating Officer, and Chief Commercial Officer.
11. Recent Developments: On December 14, 2022, Ardmore Shipping announced that it had taken delivery of its first scrubber-fitted vessel, the Ardmore Seavaliant, which is designed to reduce sulfur emissions and meet new environmental regulations.
It is important to note that the information provided above is general in nature and may not reflect the company's current financial situation or performance. Therefore, I would advise you to consult financial reports and news sources for the most up-to-date information on Ardmore Shipping Corporation.
Additionally, it is always suggested to conduct thorough research, analyze financial statements, and consider various factors before making any investment decisions.
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