Ardmore Shipping has taken the unusual step of publicly valuing itself alongside its second-quarter earnings.
As its stock price languished despite expectations of a tanker sector rally this autumn, the Irish tanker owner pegged the gross value of its fleet at $685m, roughly in line with analysts but a bit higher than fleet valuation services.
The figure — calculated using depreciated replacement value, which takes the value of an equivalent newbuilding for each ship and discounts it using straight line depreciation — equates to a net asset value (NAV) of $9.74
