Monday May 25, 2020

Ardmore Shipping sees share price sink amid global oil glut

The company’s share price, which was $13 a year ago, fell to $5.10 last week

Barry J Whyte

Chief Feature Writer

@whytebarry
6th November, 2016
Anthony Gurnee, founder and chief executive officer of Ardmore Shipping Corp

Shares in Ardmore Shipping, the Irish company listed in New York, dropped last week after the company announced that revenue for the quarter ending September 30 had fallen by $9.2 million to $38 million.

The company’s share price, which this time last year was trading at around $13, fell to $5.10 on the day of the results.

Its chief executive Anthony Gurnee told The Sunday Business Post that the difficulties would continue for at least nine months.

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