Ardmore Shipping Delivers Two LR2 Tankers, Secures 50% 2026 Charter Coverage
Ardmore Shipping reported delivery of two LR2 product tankers in Q4 2025 and secured time charters covering 50% of its 2026 available days. Management reiterated a $0.06 per share full-year dividend and forecast average 2026 TCE rates around $18,000 per day.
1. Q4 Earnings Call Highlights
During the Q4 2025 earnings call, Ardmore Shipping confirmed the delivery of two LR2 product tankers and reviewed a full-year dividend of $0.06 per share. Management noted that time charter coverage now extends to 50% of available days in 2026, supporting rate visibility.
2. Fleet Utilization and Rate Guidance
The company forecast average 2026 time charter equivalent (TCE) rates of approximately $18,000 per day, driven by firm contract backlog and global product tanker demand. Executives highlighted ongoing negotiations for additional charters and potential fleet expansion later in the year.