Ardmore Shipping owns and operates a fleet of 26 mid-size product and chemical tankers, transporting refined petroleum products and bulk liquid chemicals across global shipping routes. The fleet consists primarily of MR (Medium Range) tankers in the 47,000–50,000 DWT range, plus smaller chemical tankers in the 25,000–37,000 DWT range. All owned vessels are Eco-design builds from South Korean or Japanese yards, which Ardmore argues provides a fuel efficiency and regulatory compliance advantage over older tonnage. A key feature of the fleet is that most vessels carry IMO 2 certification, enabling them to carry both clean petroleum products (CPP) and chemical cargoes — giving Ardmore flexibility to shift between markets based on prevailing rates. Ardmore earns revenue by charging customers a daily rate to use its vessels, either on the spot market (~82% of revenue days) or under time charter contracts. Customers include oil majors, national oil companies, traders, and chemical companies. Ardmore manages commercial operations fully in-house, with chartering teams in Houston, Cork, and Singapore. Technical operations run through AASML, a 50%-owned joint venture ship manager. Ardmore's capital allocation policy balances fleet growth, efficiency upgrades, debt reduction, and shareholder returns — including a quarterly dividend equal to one-third of adjusted earnings and opportunistic share buybacks.