Company: ASC
Filing Date: 2025-03-07
Form Type: 20-F
Source: 0001558370-25-002500
Chunk: 51

Company: Ardmore Shipping Corp
Filing Date: 2025-03-07
Form: 20-F
Item: Item 4
Chunk 51
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 that are highly competitive and based primarily on supply and demand. We compete for charters on the basis of price, vessel location, size, age and condition of the vessel, as well as our reputation. Ownership of tanker vessels is highly fragmented and is divided among publicly listed companies, state-controlled owners and private ship-owners.

The International Product and Chemical Tanker Industry

The information and data contained in this section relating to the international product and chemical tanker shipping industry have been provided by Drewry Maritime Research (“ Drewry”) and is taken from Drewry’s database and other sources. Drewry has advised that: (i) some information in their database is derived from estimates or subjective judgments; (ii) the information in the databases of other maritime data collection agencies may differ from the information in their database. We believe all third-party data provided in this section, “ The International Product and Chemical Tanker Industry,” is reliable.

The world tanker fleet is generally divided into four main categories of vessels based on the main type of cargo carried. These categories are crude oil, refined petroleum products (both clean and dirty products) - hereinafter referred to as products - chemicals (including vegetable oils and fats) and specialist products such as bitumen. There is some overlap between the main tanker types and the cargoes carried, which is explained in the table below.

Table of Contents

Principal Tanker Types and Main Cargoes Carried

  Vessel Type                  Ship Size - Dwt        Tank Type            IMO Status      Principal Cargo           Other Cargoes             
  ULCC/VLCC                    200,000+               Uncoated             Non IMO         Crude Oil                                           
  Suezmax                      125,000 - 199,999      Uncoated             Non IMO         Crude Oil                                           
  Aframax                      85,000 - 124,999       Uncoated             Non IMO         Crude Oil                 Refined Products - Dirty  
  Panamax                      55,000 - 84,999        Uncoated             Non IMO         Crude Oil                 Refined Products - Dirty  
  Large Range 3 (LR3)          125,000-199,999        Coated               Non IMO         Refined Products          Crude                     
  Large Range 2 (LR2)          85,000 - 124,999       Coated               Non IMO         Refined Products          Crude                     
  Large Range 1 (LR1)          55,000 - 84,999        Co