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Fleet TCE Per Day
Aggregates the daily time-charter equivalent earnings across the entire fleet, offering a clear view of realized earnings per ship-day after accounting for voyage and operating costs. It’s a practical barometer of overall profitability and how effectively the company converts market rates and utilization into cash flow.Fleet TCE per day swung from a 2022/early‑2023 supercycle into a mid‑2024 trough and has reaccelerated into Q1 2026 — a pattern management ties to Middle East disruptions and much stronger MR spot rates. That momentum supports the bigger dividend and outsized EPS sensitivity (management: every $10k/day ≈ +$2/sh annually), so sustained spot strength can meaningfully boost cash returns and asset values. However, Ardmore’s deliberate spot exposure, rising debt costs and an aging fleet mean gains could reverse quickly if geopolitics normalize or charters soften.
Date | Fleet TCE Per Day |
|---|---|
Jun 30, 2026 | $38.07M |
Mar 31, 2026 | $28.69M |
Dec 31, 2025 | $23.52M |
Sep 30, 2025 | $23.48M |
Jun 30, 2025 | $22.47M |
Mar 31, 2025 | $20.54M |
Dec 31, 2024 | $22.35M |
Sep 30, 2024 | $26.63M |
Jun 30, 2024 | $37.38M |
Mar 31, 2024 | $34.72M |