May. 7 at 2:12 PM
$ASC These older vessels trade at significantly lower utilization The chart on the right highlights how they are typically empty over half of the time. Both The U. S. Trade representative proposal to impose fees on Chinese The U. Vessels. And the further expansion of Western sanctions are limiting supply. The USTR proposal is practically halting ordering activity in China and could impose a significant cost burden on Chinese tankers. Fortunately, in this evolving situation, this is not a concern for Ardmore. Our Korea and Japan built fleet continues to perform well has full trading flexibility. In parallel, the additional step ups and sanctions are also benefiting the compliant fleet. The sanctioned fleet has increased by 80% since the start of the year, Over 2,000 tankers are currently either sanctioned and or operating in the dark fleet. These vessels are not properly insured no longer available for compliant trades, and would have difficulty ever returning to the mainstream fleet.
