The tanker owner posted profit of $5.1m between January and March, improving from a loss of $0.4m in the corresponding period of 2014.
It came as quarterly revenue jumped from $12.4m to $29.6m.
Higher daily rates helped Ardmore offset increased operating expenses which rose by $11m to $22.9m.
Anthony Gurnee, chief executive for Ardmore, said: “Our results are attributable to well-timed fleet growth, with four newbuildings delivering into a strong charter market and an effective chartering strategy shifting predominantly to spot over the past six months as market conditions have improved.”
Its
