Ardmore MR freight earnings triple as energy crisis deepens product tanker dislocations

Physical supply-demand dislocations in the oil products and clean tanker markets, coupled with global low product inventories amid an energy crisis driven by the Russia-Ukraine conflict tripled Ardmore Shipping’s time-charter equivalent earnings for Medium Range tankers so far in 2022. “We believe the strong product tanker market is being driven primarily by two factors,” Ardmore CEO Anthony Gurnee said during…