Ardmore Shipping

Tanker rate boost from pipeline cyberattack could be fleeting

product tanker

Bad news — accidents, war, extreme weather — is generally good news for commodity shipping. Case in point: Product tanker stocks, rates and futures jumped Monday in the wake of the cyberattack that shut down the Colonial Pipeline.

The pipeline, which has the capacity to carry 2.5 million barrels per day of refined products from the U.S. Gulf to the East Coast, was shut by a ransomware attack on Friday.

The best-case scenario for product tankers is an extended outage. A lengthy shutdown would...

https://s29755.pcdn.co/news/tanker-rate-boost-from-pipeline-cyberattack-could-be-fleeting

Major shipping organisations pledge their support, including Ardmore Shipping, Cargill, Pacific Basin and V.Group

Major shipping organisations pledge their support, including  Ardmore Shipping, Cargill, Pacific Basin and V.Group 

Catherine Spencer, Chief Executive of The Seafarers’ Charity,

LONDON – Wednesday, May 5, 2021: Leading seafarer welfare charities and shipping industry players have launched an emergency relief fund in order to support seafarers and their families devastated by the rampant COVID-19 pandemic in India and other countries.

Seafarers have been the invisible victims of COVID-19, with...

https://allaboutshipping.co.uk/2021/05/05/major-shipping-organisations-pledge-their-support-including-ardmore-shipping-cargill-pacific-basin-and-v-group/

Trio Signs for Joint Venture To Develop Methanol-to-hydrogen Technology

Ardmore Shipping along with the hydrogen generator company Element 1 Corp. (e1) and Maritime Partners LLC signed a letter of intent, in order to develop a joint venture and deliver e1’s methanol-to-hydrogen technology to the marine sector, says an article published in Safety4sea.

Joint venture

Under their collaboration, the trio will establish the e1 Marine, each owning one third of the joint venture.

Namely, the e1 Marine will have a worldwide mandate for the marketing, development, licensing,...

https://mfame.guru/ardmore-shipping-element-1-corp-joins-venture-to-develop-methanol-to-hydrogen-technology/

How vaccine and Biden victory will impact shipping

vaccine and biden

The stock market soared on Monday in the wake of President-elect Joe Biden’s victory and Pfizer’s vaccine announcement. Both news bombshells will affect ocean shipping — with different consequences for container and tanker shipping.

Worst-case stimulus scenario for containers

Federal stimulus has had an enormous effect on consumer spending power, and consequently, containerized imports. According to analysts at Evercore ISI, the best-case scenario from a stimulus perspective would have been an...

https://www.freightwaves.com/news/how-vaccine-and-biden-victory-will-impact-shipping

Hopes for shipping M&A face reality check

bulk ship

COVID-19 put a temporary kibosh on mergers-and-acquisitions (M&A) activity — and not just for shipping. According to Refinitiv, the value of U.S. M&A deals fell 40% year-on-year in the first half. Now that the initial shock of the outbreak has passed, will shipping companies regain the urge to merge?

There has been a higher-than-usual number of M&A questions on quarterly conference calls in recent days. One likely reason for analysts’ heightened interest: Takeovers are one of the few big...

https://www.freightwaves.com/news/hopes-for-shipping-ma-face-reality-check

Chartering & Financial Facility Lead To $20m Profit for Ardmore

According to an Independent article, Ardmore Shipping, a Cork-based shipping company listed on the New York Stock Exchange, has posted net income of $20.1m (€17m) for the six months ending June this year, following its strong chartering performance.

The company, founded and led by Anthony Gurnee, had posted a loss of $19.1m over the same period last year. Reported net income for its second quarter was $13.6m.

Company Pleased With the Results

On the results, Gurnee, who is also listed as a director...

https://mfame.guru/chartering-financial-facility-lead-to-20m-profit-for-ardmore/

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