The red ink is being reported on the back of a net profit of USD 3.7 million posted in 2016.
For the fourth quarter of the year, the owner and operator of product and chemical tankers reported a loss of USD 3.8 million, basically breaking even when compared to the corresponding figure from last year.
“The charter market was soft overall for 2017, in spite of some strength during the summer months. Nevertheless, we believe that underlying fundamentals will prevail in 2018; oil demand growth remains firm as the global economy continues to strengthen and oil inventories have declined to more normalized levels, enabling trading activity to resume and re-introducing an additional layer of tonne-mile demand for MRs. Meanwhile, MR supply growth is less than 1 pct, setting the stage for a potentially strong and sustained charter market recovery,” Anthony Gurnee, the company’s Chief Executive Officer, commented.
Ardmore’s spot and pool MR tankers earned an average TCE rate of USD 12,975 per day, while eco-design chemical tankers earned an average of USD 11,949 per day for the twelve months ended December 31, 2017.
“With a strong balance sheet, modern fleet, low-cost structure and revenue days set to increase again in 2018, we believe Ardmore is well positioned to take advantage of the anticipated charter market recovery and thus generate strong returns and value accretion for our shareholders,” Gurnee added.
The company started off the year by taking delivery of its recently-acquired vessel Ardmore Sealancer. The 47,500 dwt MR product tanker, constructed at Onomichi Dockyard in 2008, was handed over to Ardmore on January 23, 2018.
With the latest addition, Ardmore’s fleet is composed of 28 vessels currently in operation, including 22 Eco MR tankers and six Eco-Design IMO 2 product/chemical tankers.
Folding crane Knuckle Boom Crane Marine Crane Pedestal crane
OUCO Marine/Offshore folding crane Knuckle Boom Crane Marine Crane Pedestal crane
OUCO Marine/Offshore Folding crane Knuckle Boom Crane Marine Crane Pedestal crane Save space and still handle the most challenging jobs with the Knuckleboom crane. Flexible enough to maneuver into hard-to-reach locations, the Knuckleboom crane is perfect for cargo applications and locations with difficult access from overhead. OUCO Marine group can design the foldable cranes based on API-2C regulations and rules.
Advantages of this knuckle and telescopic boom crane pedestal crane:
Rates of speed can be changed.
360 degrees rotary.
Both electro hydraulic and manual to control.
Safety and reliability.
Fold boom cranes have the ability to get into and service projects where regular mobile cranes don’t have the room necessary for a safe set up. This makes the folding boom crane ideal for several applications.
A Folding boom crane has two booms (main boom and an outer boom), which are attached by knuckle that allows the entire boom structure to move in and out, just in the same way our knuckles move the sections of our fingers. This movement allows a knuckle boom crane to fold into a very small size when transporting materials or squeezing into a small construction site. The mobility of a folding crane also allows an operator to clear the payload off their own deck.
Typical Applications: Service cranes, Provision and cargo handling cranes, Fishing and fish farming cranes
Lifting of personnel – man-riding
External hydraulic power packs
Active Heave Compensation (AHC)
Passive Heave Compensation(PHC)
Design according to rules and regulations API 2C.
Class Societies like ABS, CCS, DNV, LR, RMRS, etc.
Diesel hydraulic drive