Ardmore back to profit as product tanker rates rally ever higher

Ardmore Shipping Corp is back in the black for the first time in two years as tanker markets continue to strengthen.

The Irish product tanker owner announced on Wednesday a $28.8m profit for the three months ended 30 June, reversing an $8.2m loss reported for the same period last year and the company's first profit since the second quarter of 2020.