Ardmore Shipping Q2 revenue jumps on higher spot charter rates

Ardmore said about 45% of MR tanker days for Q3 2026 were fixed at $29,600 per day.

About 50% of chemical tanker days for Q3 2026 were fixed at $25,000 per day.

The company said market conditions remain positive but noted ongoing geopolitical and economic uncertainty.

Ardmore Shipping said second-quarter revenue rose sharply year over year, but adjusted EPS slightly missed consensus.

The Bermuda tanker operator's revenue beat analyst expectations, while adjusted net income posted a slight miss.

The company said the increase in revenue was primarily driven by higher spot charter rates, especially for MR tankers.

Net income benefited from a $12.2 million gain on the sale of the Ardmore Engineer. Increased employment of vessels under time charters added $8.6 million to revenue.

The company also completed the sale of the Ardmore Engineer vessel and expanded its newbuilding order to four ships.