Ardmore Shipping is not just moving into the spot market; the company is diversifying its cargoes as well.
On the product tanker owner’s fourth-quarter earnings call on Tuesday, chief executive Anthony Gurnee said the Irish company was lifting more non-clean petroleum product cargoes in an effort to mitigate uncertainty in a struggling market.
“[Those cargoes] offer more trading flexibility, thus enhancing [time charter equivalent] performance,” Gurnee said on the call.
