ARDMORE SHIPPING CORPORATION - ASC STOCK NEWS

Ardmore Shipping Corporation (NYSE: ASC) has finalized strategic agreements for a significant investment in Element 1 Corp.'s methanol-to-hydrogen technology, establishing the e1 Marine joint venture and acquiring a 10% equity stake in Element 1 Corp. Additionally, Maritime Partners, LLC will invest between $25 million and $40 million in Ardmore's newly created Series A 8.5% Cumulative Redeemable Perpetual Preferred Shares. Stuart Crawford has been appointed as Managing Director of e1 Marine, bringing over 35 years of experience in the marine industry.

Ardmore Shipping Corporation (NYSE: ASC) reported a net loss of $8.5 million or $0.26 per share for Q1 2021, a decline from the net income of $6.5 million in Q1 2020. Revenue dropped to $45.6 million, a decrease of $19.6 million year-over-year. EBITDA fell sharply to $4.5 million from $21 million in the previous year. The company is focusing on its Energy Transition Plan, including a joint venture with Element 1 Corp. and a strategic investment in hydrogen technology. Despite the challenges, Ardmore expects positive long-term prospects for product and chemical tanker markets.

Ardmore Shipping Corporation (NYSE: ASC) will announce its first quarter earnings before the market opens on May 5, 2021. A conference call is scheduled for 10:30 a.m. Eastern Time on the same day. Investors can access the call via dial-in or through a live webcast available on Ardmore's website. An audio replay of the call will be available until May 12. Ardmore operates a fleet of mid-size tankers, focusing on fuel efficiency and modern fleet development as part of its ongoing Energy Transition Plan.

Ardmore Shipping Corporation (NYSE: ASC) has signed a Letter of Intent to establish a joint venture with Element 1 Corp. and Maritime Partners, LLC. This partnership aims to deliver innovative methanol-to-hydrogen technology to the marine sector, promoting the use of cleaner energy. Ardmore will own a 33.3% stake in the venture, named e1 Marine, dedicated to developing and marketing hydrogen generation systems. Maritime Partners will invest $40 million in Ardmore while Ardmore will acquire a 10% equity stake in E1 for $4 million and common shares. Estimated total consideration is $11 million. The deal is set to close in early Q2 2021.

Ardmore Shipping Corporation (NYSE: ASC) has filed its Annual Report on Form 20-F for the year ending December 31, 2020, with the SEC, in compliance with NYSE rules. The report is available in the Investor Relations section of Ardmore's website. Shareholders can request free hard copies of the audited financial statements. Ardmore operates a fleet of fuel-efficient MR product and chemical tankers, focusing on enhancing earnings through strategic sector overlaps and complex trades, while maintaining low corporate overhead and operating expenses.

Ardmore Shipping Corporation (ASC) reported a net loss of $6.0 million for the year ended December 31, 2020, equating to $0.18 per share, a notable improvement from a $22.9 million loss in 2019. Adjusted EBITDA rose to $57.0 million, up from $53.3 million. For Q4 2020, the company incurred a net loss of $19.5 million, down from a profit of $1.9 million the previous year. Average daily earnings for MR tankers decreased to $9,436 in Q4 2020. Ardmore anticipates improved market conditions in the latter half of 2021, contingent on economic recovery and appropriate tanker supply adjustments.

Ardmore Shipping Corporation (NYSE: ASC) will announce its fourth quarter and full year 2020 earnings on February 10, 2021, before market opening. A conference call is scheduled for the same day at 10:00 a.m. Eastern Time, accessible via dial-in or online webcast. The company operates a fleet of mid-size tankers and focuses on developing high-quality vessels while maintaining cost advantages. Details for the audio replay of the call and archived webcast are also provided.

Ardmore Shipping Corporation (NYSE: ASC) announced that Chief Financial Officer Paul Tivnan will present at the Sidoti & Company Virtual Conference on November 19, 2020, at 8:30 a.m. Eastern Time. A live webcast of the presentation will be accessible in the Investor Relations section of Ardmore's website.

Ardmore operates a fleet of mid-size product and chemical tankers, emphasizing seaborne transportation of petroleum products and chemicals worldwide, with a focus on modernizing its fleet and enhancing operational efficiency.

Ardmore Shipping Corporation (NYSE: ASC) reported a net loss of $6.6 million for Q3 2020, translating to a $0.20 loss per share, compared to a net loss of $5.7 million in Q3 2019. EBITDA for the quarter was $7.2 million, down from $9.6 million year-over-year. However, for the nine-month period ending Sept 30, 2020, the company achieved a net income of $13.5 million, with EBITDA of $56.1 million, a notable improvement from a loss of $24.8 million in 2019. The company has initiated a share repurchase plan and secured a $10 million loan for vessel financing.