1、ARDMORE SHIPPING CORPORATIONANNUAL REPORT 2017ContentsOur Company and Strategy 03Letter from the Chairman 05Letter from the CEO 07 Our Philosophy 11Directors&Senior Management 13Our Fleet 17Ardmores Role in the Oil Value Chain 19Corporate&Social Responsibility 21Form 20F 23ANNUAL REPORT 2017ARDMORE
2、SHIPPING CORPORATION|02Our Company Ardmore Shipping owns and operates a fleet of mid-size product and chemical tankers.We provide seaborne transportation of petroleum products and chemicals worldwide to oil majors,national oil companies,oil and chemical traders,and chemical companies,with our modern
3、,fuel-efficient fleet of tankers.Ardmores core strategy is to develop a modern,high-quality fleet of product and chemical tankers,build key long-term commercial relationships,maintain our cost advantage in assets,operations and overhead,while creating significant synergies and economies of scale as
4、the Company grows.We provide our services to customers through voyage charters,commercial pools and time charters enjoying close working relationships with key commercial and technical management partners.We view the continued development of these relationships as crucial to our longterm success.Lon
5、g-Term Value CreationDisciplined Capital AllocationConservative Balance SheetHigh-Quality FleetTransparent Corporate StructureFocusMid-Size Product TankersFleet Performance and Service ExcellenceVoyage OptimizationFuel Efficiency and Emissions ReductionLow Cost StructureAssets Acquired at Cyclical L
6、owsOperational Cost AdvantageLow Corporate OverheadDisciplined InvestmentArdmore strategy03|04Fellow Shareholders,Over the course of 2017,Ardmore continued to make substantial progress across several strategic priorities focused on creating long-term value for all stakeholders.The Company maintains