Report details Ardmore's continued efforts toward
decarbonization and other environmental and social initiatives,
emphasizing the essential connection between progress and
performance in order to achieve success in an evolving business and
social environment
HAMILTON, Bermuda, June 15, 2023 /PRNewswire/ -- Ardmore
Shipping Corporation (NYSE: ASC) ("Ardmore" or the "Company")
announced today that it has published its 2022 Sustainability
Report (the "Report"). The Report outlines the Company's
multifaceted initiatives and progress towards a more sustainable
future, with decarbonization as a core objective. The Report
is available on the Ardmore website at
www.ardmoreshipping.com/about/progress/.
On the occasion of the Report's third annual publication,
Ardmore CEO Anthony Gurnee called
upon the IMO and other regional and international regulatory bodies
to provide greater clarity including guidance on environmental
regulations to enable a rational and orderly transition towards a
substantial decarbonization of the industry.
"Decarbonization in a capital-intensive industry like
shipping, with vessels having an average 25-year useful life, is a
marathon not a sprint which will in all likelihood take the better
part of two decades after the transition has begun in earnest.
The longer we await regulatory clarity, the longer we are
deferring the start of the real work. Ardmore is not alone
among shipowners in sharing the IMO's stated view that
decarbonization of the shipping industry is essential, and it is
for that reason that we see further delay in providing a clear
pathway as an avoidable and increasingly self-harming
roadblock.
Ardmore together with most other shipowners, shipyards,
classification societies and the sustainable fuel industry are
ready to collaborate and invest once there is sufficient clarity,
but until then, progress will inevitably remain on the margins of
the business and the global fleet will achieve only moderate
incremental improvements in greenhouse gas reduction, especially
when taking into account demand growth.
We appreciate that regulation of the global shipping industry
is an intensely political process, and acknowledge that a
thoughtful and cautious approach is warranted regarding the
introduction of rules that will have a profound impact on the
global economy. Having experienced the successful
implementation of major regulations such as double-hull tankers and
IMO 2020 sulfur content limits, we believe that the current global
regulatory framework is capable of successfully and safely guiding
the industry through this transition, so long as the political will
is there."
Forward-Looking Statements
The statements in this press release that are not historical
facts may be forward-looking statements. These forward-looking
statements involve risks and uncertainties that could cause the
outcome to be materially different. These risks and uncertainties
include, among others, those discussed in Ardmore's public filings
with the U.S. Securities and Exchange Commission. Ardmore
undertakes no obligation to revise or update any forward-looking
statements unless required to do so under the securities laws.
About Ardmore Shipping Corporation
Ardmore owns and operates a fleet of MR product and chemical
tankers ranging from 25,000 to 50,000 deadweight tonnes. Ardmore
provides, through its modern, fuel-efficient fleet of mid-size
tankers, seaborne transportation of petroleum products and
chemicals worldwide to oil majors, national oil companies, oil and
chemical traders, and chemical companies.
Ardmore's core strategy is to continue to develop a modern,
high-quality fleet of product and chemical tankers, build key
long-term commercial relationships and maintain its cost advantage
in assets, operations and overhead, while creating synergies and
economies of scale as the company grows. Ardmore provides its
services to customers through voyage charters and time charters,
and enjoys close working relationships with key commercial and
technical management partners.
Ardmore's Energy Transition Plan ("ETP") focusses on three key
areas: transition technologies, transition projects, and
sustainable (non-fossil fuel) cargos. The ETP is an extension of
Ardmore's strategy, building on its core strengths of tanker
chartering, shipping operations, technical and operational fuel
efficiency improvements, technical management, construction
supervision, project management, investment analysis, and ship
finance.
Investor Relations
Enquiries:
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|
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Mr. Leon
Berman
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Mr. Bryan
Degnan
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The IGB
Group
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The IGB
Group
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45 Broadway, Suite
1150
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45 Broadway, Suite
1150
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New York, NY
10006
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New York, NY
10006
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Tel:
212–477–8438
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Tel:
646–673–9701
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Fax:
212–477–8636
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Fax:
212–477–8636
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Email: lberman@igbir.com
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Email: bdegnan@igbir.com
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SOURCE Ardmore Shipping Corporation