Ardmore Shipping has chalked up a stronger than expected first quarter performance in a recovering product tanker market.
New York-listed Ardmore remained in the red for the period but chief executive Tony Gurnee believes the market is heading into a sustained up-cycle.
Gurnee says rates have been on an upward trend thanks to improving supply and demand fundamentals with refinery preparations for IMO 2020 presently "masking" the full strength of the sector.
