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Ardmore sees wider losses amid weak charter market

Ardmore Shipping Corporation reported net losses of $26m in the nine months ending in September, down from a loss of $8.7m in the same period last year. The company’s chief executive cited a bottoming out of MR charter rates in the third quarter, but saw a positive outlook for 2019

The outlook remains positive for MR tonne-mile demand, said the company’s chief executive, who cited oil consumption growth, refinery expansions, vessel supply outlook and heightened demand from next year’s marine fuel switch

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