Ardmore Shipping Corporation
Ardmore Shipping Corporation was incorporated under the laws of the Republic of the Marshall Islands on 14 May 2013, as stated in its original SEC registration statement and confirmed in its subsequent annual reports on Form 20-F. Its common stock has traded on the New York Stock Exchange under the ticker symbol ASC since 2013.
The company owns and operates a fleet of medium-range (MR) product and chemical tankers, ranging from approximately 25,000 to 50,200 deadweight tonnes, providing international seaborne transportation of refined petroleum products and chemicals to oil majors, national oil companies, and chemical traders and producers. As of 31 December 2025, the fleet comprised 25 owned vessels and one chartered-in vessel, of which 14 of the owned vessels were fitted with exhaust-gas scrubbers; as of 6 March 2026, five vessels were employed on time charter and 21 traded in the spot market.
For the year ended 31 December 2025, the company reported consolidated revenue of $310.2 million, down from $405.8 million in 2024, and consolidated net income of $41.0 million, down from $133.0 million in 2024, a decline the company attributed to weaker product-tanker freight rates during the year. The board declared a cash dividend of $0.09 per common share on 12 February 2026. As of 31 December 2025, 40,731,441 shares of common stock were outstanding.
Zavia.ai’s on-file record for this profile lists a country code of Bermuda (BM) and an incorporation date of 11 February 2014. Ardmore Shipping Corporation’s SEC filings identify the Marshall Islands, not Bermuda, as its jurisdiction of incorporation, with 14 May 2013 as the incorporation date; the on-file Bermuda code more likely reflects the location of the company’s principal executive offices in Hamilton, Bermuda, and of its Bermuda-incorporated management subsidiary, Ardmore Shipping (Bermuda) Limited, than the parent company’s own jurisdiction of incorporation. The on-file incorporation date of 11 February 2014 could not be corroborated against any SEC filing reviewed for this record, and no Marshall Islands company registration number was disclosed in the filings reviewed or is recorded on file for this entity.
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Shareholders
1
Shareholders of Ardmore Shipping Corporation
Ardmore Shipping Corporation is a Marshall Islands-incorporated company listed on the New York Stock Exchange, and it does not publish a complete shareholder register. Disclosure is instead limited to holders whose stakes cross reporting thresholds under U.S. securities law, principally Schedule 13D and 13G filings, together with the “Major Shareholders” table in the company’s own annual report on Form 20-F for the year ended 31 December 2025. According to that table, dated as of 6 March 2026, the largest disclosed holders were BlackRock, Inc. (2,654,246 shares, 6.5%), Dimensional Fund Advisors LP (2,428,218 shares, 6.0%), Scorpio Holding Limited (2,304,112 shares, 5.6%) and Alder Tree Investments II BV (2,035,567 shares, 5.0%), against 40,731,441 shares of common stock outstanding at 31 December 2025. Each of these positions is reported as a direct or beneficial holding by an institutional or passive investor; none is described in the source as held indirectly through a further corporate ownership chain. Reported holdings change between filing dates: a Schedule 13G filed by BlackRock, Inc. for the period ended 30 June 2026 reported a reduced holding of 2,193,072 shares (5.4%), and an amended Schedule 13G filed by Scorpio Holding Limited and Annalisa Lolli-Ghetti in early August 2026 reported that neither party held any Ardmore Shipping Corporation common stock as of that filing, down from a previously reported 1,529,897 shares (3.7%).
Ultimate beneficial ownership
No individual has been identified in the sources reviewed as an ultimate beneficial owner of Ardmore Shipping Corporation. BlackRock, Inc. and Dimensional Fund Advisors LP report their positions as passive institutional investment managers rather than as controlling beneficial owners, and no complete, dated ownership chain was identified that would allow an effective individual ownership percentage to be calculated for any shareholder.
Data availability
Major shareholders only. As a foreign private issuer listed on the New York Stock Exchange, Ardmore Shipping Corporation is not required to publish a full shareholder register; only holders whose stakes cross the 5% reporting threshold under U.S. securities law are identifiable from Schedule 13D/13G filings and the company’s own 20-F disclosure. Shareholders below that threshold are not identified in the sources reviewed, and their absence from this record should not be read as evidence that the remaining shares are unheld.
Sources
- Ardmore Shipping Corporation, Form 20-F for the year ended 31 December 2025, “Major Shareholders” table, SEC EDGAR; retrieved 18 September 2026
- BlackRock, Inc., Schedule 13G, SEC EDGAR, reporting period ended 30 June 2026; retrieved 18 September 2026
- Scorpio Holding Limited and Annalisa Lolli-Ghetti, Schedule 13G/A, SEC EDGAR, filed August 2026; retrieved 18 September 2026
Registry feed — rows exactly as filed with Bermuda Monetary Authority / Registrar of Companies, including entries the profile above does not cover.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| Fidelity Salem Street Trust-Fidelity Small Cap Index Fund | 1.7% | Bermuda Monetary Authority / Registrar of Companies |
Officers
13
Directors and officers of Ardmore Shipping Corporation
Ardmore Shipping Corporation discloses its board of directors and executive officers in its annual report on Form 20-F and in the notice of annual meeting filed on Form 6-K. As of the notice filed 1 May 2026 for the annual meeting held 15 June 2026, the board comprised seven directors in three classes: Curtis McWilliams (Chair of the Board, director since 2016), Gernot Ruppelt (Chief Executive Officer and director since 2024), Bart Kelleher (President, Secretary and director since 2024), Mats Berglund (director since 2018), Kirsi Tikka (director since 2019), Helen Tveitan de Jong (director since 2018) and James Fok (director since 2023). Current executive officers named in the company’s disclosures include Gernot Ruppelt (Chief Executive Officer), Bart Kelleher (President and Secretary), John Russell (Chief Financial Officer, appointed effective 1 July 2025), Robert Gaina (Chief Operating Officer, appointed effective 1 January 2026) and Aideen O’Driscoll (Senior Vice President and Senior Director of Corporate Services). Roles are stated as reported by the company; no separate occupation field distinct from legal role is disclosed for these individuals. Nationality and country of residence are not disclosed for any director or officer in the sources reviewed for this record.
Recent officer changes
- John Russell was appointed Chief Financial Officer effective 1 July 2025, continuing to report to President Bart Kelleher, who had served as Chief Financial Officer from 2022 until that date (source: company press release/Form 6-K dated 7 May 2025).
- Gernot Ruppelt was appointed Chief Executive Officer and a director in 2024, as reflected in the company’s board-class disclosures (source: Form 20-F / annual meeting Form 6-K).
- Robert Gaina was appointed Chief Operating Officer effective 1 January 2026 (source: company disclosure referenced in the 1 May 2026 Form 6-K).
Data availability
Current only. Ardmore Shipping Corporation’s SEC filings identify its current board and executive officers with appointment years, but the sources reviewed for this record do not provide a complete history of former directors or officers, and none discloses nationality or country of residence for any individual; these fields should be treated as not disclosed rather than confirmed to be absent.
Sources
- Ardmore Shipping Corporation, Form 6-K (notice of 2026 annual meeting), filed 1 May 2026, SEC EDGAR; retrieved 18 September 2026
- Ardmore Shipping Corporation, Form 20-F for the year ended 31 December 2025, Item 6.A, SEC EDGAR; retrieved 18 September 2026
- Ardmore Shipping Corporation, press release/Form 6-K announcing first-quarter 2025 results and CFO transition, dated 7 May 2025; retrieved 18 September 2026
Registry feed — rows exactly as filed with Bermuda Monetary Authority / Registrar of Companies, including entries the profile above does not cover.
Group Structure
Group structure of Ardmore Shipping Corporation
Ardmore Shipping Corporation is the ultimate parent of the Ardmore group; no parent company or controlling corporate shareholder is disclosed in its SEC filings. Exhibit 8.1 to the company’s Form 20-F for the year ended 31 December 2025 lists more than 70 direct and indirect subsidiaries, most of which are single-purpose Marshall Islands limited liability companies that each own one vessel (for example Bailey Shipco LLC and Ballycotton Shipco LLC), held through Ardmore Shipping LLC, a Marshall Islands intermediate holding subsidiary. Other disclosed subsidiaries include Ardmore Shipping (Bermuda) Limited, incorporated in Bermuda, which carries out group management and administrative functions from the company’s principal executive offices in Hamilton, Bermuda; Ardmore Maritime Services (Asia) Pte. Ltd. and Ardmore Shipping (Asia) Pte Ltd, both incorporated in Singapore; Ardmore Shipping Services (Ireland) Limited, incorporated in Ireland; Ardmore Shipping (Americas) LLC and Ardmore Element 1 Ventures LLC, both incorporated in Delaware, United States; and Ardmore Energy Transition Ventures Ltd, incorporated in Bermuda. The exhibit also identifies Anglo Ardmore Ship Management Pte Ltd, a Singapore-incorporated entity in which the company holds a disclosed 50% interest, described as a joint-venture affiliate rather than a subsidiary. All entities are reported as of 31 December 2025.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Ardmore Shipping LLC | Marshall Islands | Not disclosed in exhibit | Direct subsidiary; intermediate holding company for vessel-owning entities | Ownership percentage not disclosed | Active | 31 Dec 2025 |
| Ardmore Shipping (Bermuda) Limited | Bermuda | Not disclosed in exhibit | Subsidiary; group management and administration | Ownership percentage not disclosed | Active | 31 Dec 2025 |
| Anglo Ardmore Ship Management Pte Ltd | Singapore | Not disclosed in exhibit | Affiliate (joint venture) | 50% | Active | 31 Dec 2025 |
Recent structural changes
No acquisition, disposal, merger or reorganisation affecting the group’s parent-subsidiary structure was identified as a discrete, named transaction in the sources reviewed for this record; changes noted in recent filings relate to fleet vessel purchases held through newly formed single-vessel subsidiaries, not to changes in the group’s overall corporate structure.
Data availability
Full for disclosed subsidiaries: the company’s Form 20-F exhibit lists its subsidiaries by name and jurisdiction as an SEC filing requirement. Ownership percentages for wholly owned subsidiaries are not separately stated in the exhibit beyond the 50% figure given for the Anglo Ardmore Ship Management Pte Ltd joint venture, and are recorded here as not disclosed rather than assumed to be 100%.
Sources
- Ardmore Shipping Corporation, Exhibit 8.1 (List of Subsidiaries) to Form 20-F for the year ended 31 December 2025, SEC EDGAR; retrieved 18 September 2026
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Frequently Asked Questions
What does Ardmore Shipping Corporation do?
Ardmore Shipping Corporation owns and operates a fleet of medium-range product and chemical tankers, providing international seaborne transportation of refined petroleum products and chemicals to oil majors, national oil companies, and chemical traders and producers.
Where is Ardmore Shipping Corporation incorporated?
Ardmore Shipping Corporation's SEC filings state that it was incorporated under the laws of the Republic of the Marshall Islands, not Bermuda. The on-file country code for this record (BM) more likely reflects the location of the company's principal executive offices in Hamilton, Bermuda, and its Bermuda-incorporated management subsidiary, rather than the parent company's own jurisdiction of incorporation.
When was Ardmore Shipping Corporation incorporated?
Ardmore Shipping Corporation's original SEC registration statement and subsequent Form 20-F annual reports state an incorporation date of 14 May 2013 in the Marshall Islands. The incorporation date on file for this record, 11 February 2014, could not be corroborated against any SEC filing reviewed for this profile.
What is Ardmore Shipping Corporation's registration number?
No registration number is recorded on file for this entity, and none was disclosed in the SEC filings reviewed for this record. Ardmore Shipping Corporation's SEC filings identify it by its I.R.S. Employer Identification Number, 66-0804797, rather than by a Marshall Islands company registration number.
Is Ardmore Shipping Corporation a publicly listed company?
Yes. Ardmore Shipping Corporation common stock trades on the New York Stock Exchange under the ticker symbol ASC.
Where are Ardmore Shipping Corporation's principal executive offices?
The principal executive offices are located at Dorchester House, 7 Church Street, Hamilton, HM11, Bermuda, according to the company's most recent Form 20-F.
How large is Ardmore Shipping Corporation's fleet?
As of 31 December 2025, the fleet comprised 25 owned medium-range product and chemical tankers plus one chartered-in vessel, ranging from approximately 25,000 to 50,200 deadweight tonnes; 14 of the owned vessels were fitted with exhaust-gas scrubbers.
What was Ardmore Shipping Corporation's revenue in 2025?
Ardmore Shipping Corporation reported consolidated revenue of $310.2 million for the year ended 31 December 2025, down from $405.8 million in 2024, with net income of $41.0 million compared with $133.0 million in 2024.
Does Ardmore Shipping Corporation pay a dividend?
The board of directors declared a cash dividend of $0.09 per common share on 12 February 2026, as reported in the company's full-year 2025 results.
Who is the Chief Executive Officer of Ardmore Shipping Corporation?
Gernot Ruppelt is Chief Executive Officer and a director, appointed in 2024, according to the company's SEC filings.
Who chairs Ardmore Shipping Corporation's board of directors?
Curtis McWilliams is Chair of the Board and has served as a director since 2016.
Who are the major shareholders of Ardmore Shipping Corporation?
According to the company's Form 20-F major-shareholders table dated 6 March 2026, the largest disclosed holders were BlackRock, Inc. (6.5%), Dimensional Fund Advisors LP (6.0%), Scorpio Holding Limited (5.6%) and Alder Tree Investments II BV (5.0%). As a foreign private issuer, only holders above the 5% reporting threshold are identified; the complete shareholder base is not disclosed.
Does Ardmore Shipping Corporation have a parent company?
No parent company or controlling corporate shareholder is disclosed in Ardmore Shipping Corporation's SEC filings; it is the ultimate parent of the Ardmore group.
Does Ardmore Shipping Corporation have subsidiaries?
Yes. Exhibit 8.1 to its Form 20-F for the year ended 31 December 2025 lists more than 70 subsidiaries, most of which are single-vessel-owning companies incorporated in the Marshall Islands, together with management subsidiaries in Bermuda, Singapore, Ireland and the United States.
Who is the Chief Financial Officer of Ardmore Shipping Corporation?
John Russell was appointed Chief Financial Officer effective 1 July 2025, succeeding Bart Kelleher, who moved to the role of President and Secretary.