Ireland-based Ardmore Shipping has fallen to a loss in the third quarter, but sees better prospects for its tankers from the final three months on.

The net deficit was $12.2m for the period, against $4.6m a year ago.

Its 28 vessels brought in revenue of $48.92m, versus $48.65m in 2017.

But costs rose to $54.91m, up from $47.98m.

The rise was mostly due to higher commissions and voyage-related costs.