Ardmore Shipping can easily fund fleet growth, according to Clarksons Securities.
The investment bank argues that a combination of falling debt and breakeven levels, plus untapped financing reserves, leave the New York-listed product tanker specialist in a strong position.
“Deleveraging has been a key theme for Ardmore over the past couple of years, and we expect the company to reach net cash in the fourth quarter of 2024,” analysts led by Frode Morkedal said.
