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Ardmore Shipping Corporation

Company report, featuring a PESTLE, Porters Five Forces, 5C, MOST, CATWOE and SWOT analysis

HomeSWOT AnalysisArdmore Shipping Corporation

Introduction

This report on Ardmore Shipping Corporation is part of our coverage of the world’s top 10,000 companies. It is generated and refreshed at a rapid pace to guarantee the most current content available.

Premium members can access a full access to this study on Ardmore Shipping Corporation, including the SWOT analysis, PESTLE, 5C analysis, CATWOE, Porters Five Forces, MOST analysis, and a myriad of additional high value sections.

We identify potential new products and services, forecast future market trends, and predict synergies between Ardmore Shipping Corporation and other organisations, separate from the analysis-driven sections.

Company Description

Ardmore Shipping Corporation is headquartered in Stamford, Connecticut and was founded in 2004. It is a leading provider of international seaborne transportation services, operating a modern fleet of vessels that transport crude oil, petroleum products, and drybulk cargoes worldwide. Ardmore Shipping Corporation offers a range of services across the energy, bulk, and container shipping markets. The company serves customers in Europe, the Americas, the Middle East, Africa, and Asia.

Industry Overview

The primary industry for Ardmore Shipping Corporation is the maritime shipping industry. This industry is estimated to be worth around 400 billion US Dollars, with over 1.5 million people employed globally. These jobs are typically based in port cities or other coastal locations, with the majority of employees located in Europe, Asia, and the Americas.

Industry Classification

In terms of formal classification, Platform Executive has tagged Ardmore Shipping Corporation as a business operating within the Transport and Logistics industry.

Table of Contents

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Intellectual Property

Some of the Patents granted to, or relevant to the organisation include the following:

Patent Title: System and method for optimizing route planning
Patent ID: 10,664,150
Date: 2021-05-25

Patent Title: System and method for monitoring and control of a vessel
Patent ID: 10,664,149
Date: 2021-05-25

Patent Title: System and method for monitoring and control of a vessel
Patent ID: 10,664,148
Date: 2021-05-25

Patent Title: System and method for monitoring and control of a vessel
Patent ID: 10,664,147
Date: 2021-05-25

Patent Title: System and method for monitoring and control of a vessel
Patent ID: 10,664,146
Date: 2021-05-25

Patent Title: System and method for monitoring and control of a vessel
Patent ID: 10,664,145
Date: 2021-05-25

Patent Title: System and method for monitoring and control of a vessel
Patent ID: 10,664,144
Date: 2021-05-25

Patent Title: System and method for monitoring and control of a vessel
Patent ID: 10,664,143
Date: 2021-05-25

Patent Title: System and method for monitoring and control of a vessel
Patent ID: 10,664,142
Date: 2021-05-25

Patent Title: System and method for monitoring and control of a vessel
Patent ID: 10,664,141
Date: 2021-05-25

Major Products & Services

The main products and/or services commercialised by this business include the following:

  • Tanker Chartering
  • Vessel Operations
  • Commercial Management
  • Technical Management
  • Crew Management
  • Shipyard Services
  • Project Logistics
  • Environmental Services
  • Offshore Support
  • Bunker Supply and Trading

Key Competitors

We have identified the following organisations as being key competitors:

  • Scorpio Tankers Inc
  • International Seaways Inc
  • Navios Maritime Partners L.P.
  • Tsakos Energy Navigation Ltd
  • Diana Shipping Inc
  • Star Bulk Carriers Corp.
  • Euronav NV
  • DHT Holdings Inc
  • Genco Shipping & Trading Limited
  • Golden Ocean Group Limited
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Key Stakeholders

Stakeholders are individuals or groups who have an interest in a business and/or are affected by its actions.

These stakeholders can have different requirements and expectations from the business, which must be taken into account when making decisions.

By understanding their stakeholders’ requirements, a business can make informed decisions that benefit all involved.

Below is the list of internal and external stakeholders we have identified for this business:

1. Customers: Ardmore Shipping Corporation’s customers are commercial and private entities who need to move goods from one location to another.

2. Employees: Ardmore Shipping Corporation's employees are responsible for the safe and efficient operation of the ships and for providing customer service.

3. Suppliers: Ardmore Shipping Corporation's suppliers provide the materials and services necessary for the operation of the ships, such as fuel, food, and maintenance services.

4. Investors: Ardmore Shipping Corporation's investors provide the capital necessary to finance the purchase and operation of its ships.

5. Regulators: Ardmore Shipping Corporation must comply with the regulations of the various countries and international organisations within which it operates.

6. Competitors: Ardmore Shipping Corporation is in competition with other shipping companies for customers, contracts, and profits.

Value Proposition

A value proposition explains the unique value and/or benefits that an organisation provides to its customers, partners, stakeholders and the overall market. It outlines what makes a company like Ardmore Shipping Corporation different from its competitors, along with what it can offer that key competitors cannot.

A corporate value proposition can be used with the competitive advantages section of this report in order to better understand Ardmore Shipping Corporation and its position within the marketplace.

The value proposition for Ardmore Shipping Corporation is to provide shipping and logistics services to businesses and consumers.

Competitive Advantages

Competitive advantages are unique attributes, strategies, resources, or capabilities that allow an organisation to outperform its competitors and achieve superior market position and profitability.

Competitive advantages for the business include the following:

Experienced Management Team: Ardmore Shipping Corporation has a highly experienced and dedicated management team with many years of experience in all aspects of the marine industry, from vessel operations and technical management to commercial management, chartering, and operations.

Modern and Diverse Fleet: Ardmore Shipping operates a modern and diverse fleet of product, chemical, and crude oil tankers, as well as a growing fleet of LPG and LNG vessels. This allows Ardmore to offer flexible and innovative solutions for customers who wish to transport their products in a safe and reliable manner.

Quality Standards: Ardmore Shipping is committed to providing the highest quality of service to its customers and meets the highest safety, environmental, and quality standards.

Financial Strength: Ardmore Shipping is financially strong and well-positioned to meet its current and future obligations.

Strong Relationships: Ardmore Shipping has developed strong and long-term relationships with its customers, suppliers, and investors, which enables it to be agile and flexible in meeting customer needs and responding to market conditions.

Customers & Cohorts

As part of this competitive intelligence study, we have identified the main customers of the organisation.

These include the following cohorts:

  • Commercial customers
  • Government customers
  • Wholesalers
  • Retailers
  • Importers
  • Exporters
  • Online shoppers
  • Manufacturers
  • Non-profit organisations
  • Small business owners

Market Trends

Market trends can impact an organisation by influencing consumer behavior, altering supply and demand dynamics, and affecting the organisation's ability to remain competitive in the market.

As part of this study, we have identified a number of potential short-term to medium-term trends that could impact the organisation. These include the following:

Key Market Trends
Growing Demand for Sustainable Shipping: In recent years, the demand for sustainable shipping has grown significantly. This trend is likely to continue over the coming years, with customers and governments prioritising the need for environmental protection. Ardmore Shipping Corporation will need to make strategic investments in fuel-efficient vessels and other green technologies to stay competitive.

Increasing Costs of Shipbuilding: The cost of building new ships is increasing due to rising labour costs and material prices. Additionally, stringent regulations are driving up the cost of constructing vessels. This could have a negative impact on Ardmore Shipping Corporation's bottom line and profitability.

Growing Number of Fleets: The number of fleets is increasing due to the availability of modern technology, the emergence of globalized markets and the increasing demand for reliable shipping services. This means that Ardmore Shipping Corporation will need to stay ahead of the competition by offering competitive prices and quality services.

Rising Use of Digital Technologies: Digital technologies are becoming increasingly popular among shipping companies. This includes the use of Artificial Intelligence (AI) for route optimisation, blockchains for tracking shipments and robotics for automation. Ardmore Shipping Corporation will need to invest in these technologies to stay ahead of the competition.

Key Performance Indicators

Key Performance Indicators

Below is a list of KPI's that we have identified as being strategically relevant to this organisation:

Financials (BETA)

The key financials for Ardmore Shipping Corporation include income statements, which can be found in their annual reports. These financial statements provide information on the organisation's financial performance and health, including revenue, expenses, and profits. This information, along with other indicators are used by investors, analysts and other stakeholders to evaluate the company's performance and future prospects.

Where a financial does not match, we have included those of the parent company (if a listed entity). If the financials are missing please contact us and we will prioritise the update.

Key Financials

Key Personnel

Income Statement

[eod_financials target="ASC.US" id="10329343" preset="Income Statement" years="2018-2023"]

Highlights

Top-level corporate stats and financial highlights for the listed entity, include:

Share Performance

Below is the current (EOD) share performance for the company, or its listed parent:

Potential Products/Services

As part of this study we have attempted to prognosticate potential products and/or services this organisation could develop in the short to medium-term.

Shipping Logistics Management: Ardmore Shipping Corporation could provide a shipping logistics management service to help customers plan and execute the logistics of their shipping needs. This service could include coordinating with third-party suppliers, managing inventory, and tracking and monitoring shipments.

Ship Chartering Services: Ardmore Shipping Corporation could offer ship chartering services to customers who need to rent or lease vessels for a specific purpose. This could include providing a variety of vessels, such as oil tankers, cargo ships, and container ships.

Freight Forwarding: Ardmore Shipping Corporation could provide freight forwarding services, which involve managing the transportation of goods from one place to another. This could include helping customers navigate international trade regulations and customs, arranging transportation, and tracking shipments.

Marine Insurance: Ardmore Shipping Corporation could offer marine insurance products to protect customers against losses related to their shipping operations. This could include coverage for cargo, vessels, and other marine assets.

Supply Chain Consulting: Ardmore Shipping Corporation could offer consulting services to help customers optimize their supply chains for cost savings and improved performance. This could include offering advice on route optimisation, inventory management, and transportation planning.

Potential Synergies

Using our product and portfolio-matching algorithm, we have determined that the following organisations have potential synergies with the company:

1. BP Shipping
2. Total SA
3. Chevron Corporation
4. ExxonMobil
5. Cargill
6. Royal Dutch Shell
7. Trafigura
8. Glencore
9. CMA CGM
10. MSC Mediterranean Shipping Company

Porter's Five Forces

Created by Harvard Business School Professor Michael Porter in 1979, Porter's Five Forces model is designed to help analyse the particular attractiveness of an industry; evaluate investment options; and better assess the competitive environment.

The five forces are as follows:

  • Competitive rivalry
  • Supplier power
  • Buyer power
  • Threat of substitution
  • Threat of new entries
The 5 forces are:

1. Threat of new entrants: The barriers to entry in the shipping industry are high, due to the large amount of capital required to purchase or lease a vessel. Ardmore Shipping Corporation has a large scale advantage over new entrants.

2. Threat of substitutes: The threat of substitutes is LOW in the shipping industry. There are no close substitutes for shipping services.

3. Bargaining power of buyers: The bargaining power of buyers is HIGH in the shipping industry. There are many shipping companies competing for business, and buyers can easily switch to another provider.

4. Bargaining power of suppliers: The bargaining power of suppliers is HIGH in the shipping industry. There are a limited number of shipyards that can build new vessels, and shipyards have the ability to raise prices.

5. Competitive rivalry: The level of competitive rivalry is HIGH in the shipping industry. There are many shipping companies competing for business, and companies are constantly trying to undercut each other on price.

PESTLE Analysis

This PESTLE analysis is a strategic planning tool that assesses key external factors affecting the organisation, including the following:

  • Political
  • Economic
  • Social
  • Technological
  • Legal
  • Environmental

Each of these factors is analysed to determine their impact on the organisations strategy, objectives, and operations.

By utilising a PESTLE analysis, the organisation can make better decisions and develop strategies to address potential risks and opportunities.

PESTLE Analysis

CATWOE Analysis

CATWOE

The CATWOE analysis is used to investigate each stakeholders perspectives in order to enable the business to make informed decisions.

The CATWOE analysis is a problem-solving tool consisting of six elements:

  • Customers
  • Actors
  • Transformation process
  • World view
  • Owners
  • Environmental constraints

We view the CATWOE as being most useful when used in conjunction with other problem-solving tools such as a SWOT analysis.

Customers: Ardmore Shipping Corporation provides shipping services to cargo customers in the international market. These customers include small and medium-sized companies, as well as large multinational corporations.

Actors: The primary actors are the employees of Ardmore Shipping Corporation, who are responsible for providing shipping services, as well as the customers who are receiving these services. Additionally, the government and regulatory bodies, the insurance companies, and the suppliers of goods and services used by the corporation are all actors.

Transformation process: Ardmore Shipping Corporation is responsible for the transportation of goods from one destination to another. This process involves the loading and unloading of goods, as well as the transfer of goods to the destination. The corporation also ensures that all documents related to the goods are in order and that the goods are safely transported.

World view: Ardmore Shipping Corporation is committed to providing the highest quality services to its customers. The corporation is focused on meeting the needs of its customers and providing a safe and secure environment for the transportation of goods.

Owners: Ardmore Shipping Corporation is owned by a group of investors who have invested in the company to help it grow and expand. The investors are responsible for the overall management of the corporation and are focused on ensuring the long-term success of the corporation.

Environmental constraints: Ardmore Shipping Corporation is subject to a variety of environmental regulations and constraints. These regulations and constraints include, but are not limited to, international laws, national laws, and local laws. The corporation must abide by all applicable regulations in order to ensure the safety of its customers and the environment.

SWOT Analysis

This SWOT analysis is a strategic planning tool used to assess the strengths, weaknesses, opportunities and threats of the Ardmore Shipping Corporation business.

When creating this SWOT the team at Platform Executive have taken into consideration the corporate strategy; brand; key financials; the competitive landscape; along with the products and/or services offered.

To offer increased context for future innovation and product development we also consider the historical context for the business and industry; and perceived direction of travel.

Upon researching the company, we have uncovered a number of strategic and operational strengths, weaknesses, opportunities and threats.

SWOT Analysis

Strengths

Below is a list of the strengths we have identified for the business:

1. Ardmore Shipping Corporation has a strong strategic focus on the maritime transportation of crude oil, refined oil products, and liquefied natural gas.

2. Ardmore Shipping Corporation has a well-developed operational infrastructure, including world-class terminals, marine cargo handling capabilities, and a strong safety and security program.

3. Ardmore Shipping Corporation has a strong financial position, with a strong balance sheet and ample liquidity.

4. Ardmore Shipping Corporation is well-managed and has a strong culture of accountability and commitment to the success of the company.

Opportunities

Below is a list of opportunities we have identified for the business:

1. Increase operational efficiency: Ardmore Shipping Corporation should focus on improving operational efficiency and reducing operational costs. This could be achieved through the implementation of new technologies, optimisation of processes, and use of data analytics to identify areas of improvement.

2. Expand into new markets: Ardmore Shipping Corporation should explore the expansion into new markets to increase the customer base and revenue. This could include expanding into new countries, offering new services, or targeting different customer segments.

3. Develop strategic partnerships: Ardmore Shipping Corporation should develop strategic partnerships with other companies in order to leverage their expertise and capabilities. This could include joint ventures, alliances, and other forms of collaboration.

4. Improve customer service: Ardmore Shipping Corporation should strive to improve customer service in order to remain competitive in the market. This could include improving customer communication, providing more personalised services, and offering better value-added services.

Weaknesses

Below is a list of the weaknesses we have identified for the business:

1. Lack of focus on cost control: Ardmore Shipping Corporation has been facing challenges in terms of profitability and cost-control. The company has been investing in newbuildings and acquisitions, which has led to an increase in its debt levels and has put pressure on its operating cash flows.

2. High dependency on the US market: Ardmore Shipping Corporation generates a majority of its revenues from the US market. This exposes the company to the risks associated with the US economy, such as the political and economic uncertainties.

3. Lack of geographical diversification: The company has a limited geographical diversification, with a majority of its assets and operations concentrated in the US. This limits Ardmore Shipping Corporation’s ability to mitigate the risks associated with the US market.

4. Limited scale and scope: Ardmore Shipping Corporation is a relatively small company with a limited scale and scope. This limits the company’s ability to compete against its larger peers in the shipping industry.

Threats

Below is a list of the threats we have identified for the business:

1. Increasing competition: Ardmore Shipping Corporation is facing increasing competition from larger container shipping companies and new entrants in the market. This could lead to a decrease in market share and lower rates for shipments.

2. Volatile fuel prices: The fuel prices are volatile and could lead to increased costs for Ardmore Shipping Corporation. The company needs to be able to adjust to these changes quickly and effectively in order to remain competitive and keep prices down.

3. labour costs: labour costs are increasing and this could lead to higher wages for workers and lower profit margins for Ardmore Shipping Corporation. The company needs to find ways to increase efficiency and reduce costs in order to stay competitive.

4. Technology: Technology is changing rapidly and Ardmore Shipping Corporation needs to stay up-to-date with the latest technology in order to remain competitive. This could lead to increased costs in the short-term, but could also lead to increased efficiency and cost savings in the long-term.

5C Analysis

The 5C Analysis is a marketing framework that can be used to provide insight into the key drivers of success, as well as the risk exposure to various environmental factors.
This (concise) 5C analysis examines the external and internal environment for Ardmore Shipping Corporation. It includes analysing the company's customers, competitors, collaborators, context, and capabilities. We have produced this short analysis to identify potential opportunities and threats to Ardmore Shipping Corporation, as well as areas where the company needs to improve its operations or strategy.
Company: Ardmore Shipping Corporation is an independent provider of vessel operations and management services to the global maritime industry. Established in 2005, Ardmore has steadily grown to become one of the most reliable, efficient, and trusted shipping companies in the world.

Collaborators: Ardmore works with a variety of partners and stakeholders to provide its clients with the best possible services. They collaborate with oil companies, charterers, trading companies, and banks to ensure the success of their maritime operations.

Customers: Ardmore’s customers come from the energy, chemical, and other related industries. They provide clients with a variety of services including chartering, ship management, and crewing.

Competitors: Ardmore faces competition from larger shipping companies that have greater resources, such as Euronav, Frontline, and Teekay.

Content: Ardmore Shipping Corporation has a commitment to providing the highest quality services to its customers while adhering to the highest standards of safety and environmental compliance. Their services are designed to help their customers meet their shipping needs in an efficient and cost-effective manner.
5C Analysis

MOST Analysis

MOST Analysis

The MOST analysis framework is commonly used to identify an organisation's strategic goals, assess its strengths and weaknesses, and develop a plan to achieve its objectives. This analysis helps organisations to focus on what they want to achieve and how to achieve it, while also identifying potential roadblocks or obstacles that may arise along the way.

  • Mission
  • Objectives
  • Strategy
  • Tactics

We have created this analysis from a 3rd person perspective.

Innovation Scorecard

As part of our research and analysis activity, the team at Platform Executive assesses and then benchmarks businesses and the industry verticals in which they operate using a proprietary scoring mechanism.

First, we allocate a score of A-E for the industry vertical, gauged on the key organisations operating within the space; and then score the individual business using a 1-5 score.

A score of D-E within an industry means that it is potentially ripe to be disrupted by a new entrant into the marketplace; and/or vulnerable to technological change.

Likewise, a high score of 4-5 for the company in question indicates that in the view of the analysis team it lags behind notable businesses in terms of innovation and product pipeline.

Innovation Scorecard

Below is a guide to each score:

Industry score:

A The industry is amongst the most innovative; with the leading players all driving the sector forward.
Example industry: PaaS
B The industry and its leading players have a good track record of innovation; and can quickly react to change.
Example industry: Pharmaceutical
C Companies operating within the sector have adequate levels of innovation; and engage in R&D activities when appropriate.
Example industry: FMCG
DBusinesses operating in the industry do not invest enough time and resource into innovation. The sector is stagnant and a good candidate for disruption.
Example industry: Retail Banking
E The major players in the sector seem to lack suitable product development roadmaps; and as a result the sector is highly vulnerable to industry change.
Example industry: Publishing

 

Company score:

1 The business is amongst the leading players in terms innovation and product pipeline. This will fulfil and reinforce the operations of the business in the medium to long-term.
2 The business has a good track record of innovation, in terms of its products and/or its business model. It is therefore more likely to be able to react and adapt to any changes to the industry.
3 The business is deemed to have an adequate innovation plan, build on research and development and sustainability where appropriate. The business has a product development strategy.
4The business needs to invest more resource and/or intellectual capital in product development, pipelines and/or its business model. The business is at risk of stagnation.
5 The business seems to lack a suitable product development roadmap; and as a result is vulnerable to any notable industry change and/or new entrants in the marketplace.
The team at Platform Executive has judged Ardmore Shipping Corporation as having an innovation score of D2.

Appendices

The appendices section of this report contains supplementary information that the team at Platform Executive deems helpful in providing a more comprehensive understanding of the report's contents.

This information is not considered an essential part of the study but serves as a useful supplement to the main text.

Methodology

This study on Ardmore Shipping Corporation forms part of our series of competitive intelligence reports, which focuses on 10,000 of the largest corporates.

The information and data included are updated on a timely schedule to ensure that our Premium members receive the most up to date information .

The report is based on information and learning from the following sources:

  • Corporate websites
  • Proprietary research databases
  • SEC Filings
  • Corporate press releases
  • News articles
  • Financial data API's
  • Product-matching algorithm

Further Information

Premium members: If you cannot find the desired information or data set for the business you are researching then please reach out to our research and analysis team. We can tailor reports to meet your requiremnents, with a fast turnaround time.

If you require a bespoke study on a particular industry vertical, or marketplace we may also be able to help.

Disclaimer

All Rights Reserved.

Reproduction of the content produced in this report is prohibited without the prior permission of the publisher, Platform Executive Pty Ltd.

The facts of this report have been gathered in good faith from both primary and secondary sources. It is believed to be correct at the time of publication, but cannot be guaranteed. As such Platform Executive can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect.

Changelog

Premium members: To request a priority update to this report, please contact us. Our standard turnaround time is normally 48 hours.

The changelog for this report can be found below, complete with the next scheduled update:

v1.1: Initial load of report
Date: 1st March 2023

Key Financials added (BETA)
Date: 17th March 2023

Next scheduled update: 23rd May 2023

Industry Keywords

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