Ardmore Shipping chief executive Anthony Gurnee says the recent rate spike in the Atlantic Basin for medium-range (MR) tankers shows the market “remains closely balanced,” despite rates hitting two-year lows during the third quarter.
The comments came after the New York-listed tanker owner delivered a $0.05 per share, which was in-line with analysts’ estimates.
MR rates in the Atlantic basin shot up 200% yesterday to around $25,000 per day yesterday on news of a fire on Colonial Pipeline, which supplies gasoline and heating oil to the US East Coast.
The
