The following is a summary of the Ardmore Shipping Corporation (ASC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Adjusted earnings for Q3 were $23.3 million or $0.55 per share with strong TCE rates.

• Quarterly cash dividends declared at $0.18 per share, aligning with policy of paying out one-third of adjusted earnings.

• Cash breakeven levels reduced to $11,500 per day, resulting in annualized savings of about $50 million.

Business Progress:

• Focus on high return investments boosting fleet performance and reducing emissions.

• Commitment to investing in specialized tank coatings for chemical tankers during dry docking in 2025.

• Enhancement of operating leverage through effective cost control and reduced debt levels.

Opportunities:

• Incremental long haul ton miles driven by oil refinery and petrochemical capacity expansion in the East versus closures in the West.

• Increasing demand for oil products and biofuels requiring transportation services.

• New regulations increasing trade complexity, creating opportunities for skilled operators like Ardmore.

Risks:

• Short-term market volatility, though alleviated by strong underlying demand drivers.

• U.S. economic conditions and geopolitical disruptions influencing trading patterns.

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