Ardmore Shipping says Q2 2026 earnings jump on stronger spot tanker rates, partially offset by fewer spot days
ASC•Gain on vessel sale
Results also included a USD 12.2 million gain on the sale of the Ardmore Engineer, sold for USD 35.5 million.
Higher fleet TCE and voyage costs
Average fleet TCE increased to USD 38,073 per day from USD 22,468, reflecting stronger spot pricing despite a smaller spot-market vessel count.
Voyage expenses increased to USD 29.83 million from USD 25.18 million, driven primarily by higher bunker prices.
Q2 2026 results rise on stronger tanker rates
For the three months ended June 30, 2026, net income rose to USD 60.52 million from USD 9.6 million as net revenue climbed 61% to USD 116.21 million.
Management attributed the revenue gain mainly to higher spot charter rates, adding USD 45.1 million, partly offset by fewer spot revenue days.
