Ardmore Shipping chief executive Anthony Gurnee expects the medium-range products tanker market to return to strength by the final quarter of the year.
The executive told analysts today that demand fundamentals remain strong for the New York-listed products and chemical tanker owner's key sector.
He said MR demand growth is poised to exceed supply growth significantly this year. And while Gurnee said the high level of products inventories is still the key factor weighing on charter rates, which dragged the company into the red, de-stocking is well under way.
