Ardmore Shipping leads tanker stocks lower as Stifel downgrades, seeing softer rates

Ardmore Shipping (NYSE:ASC) -6.9%, International Seaways (INSW) -6%, and Scorpio Tankers (STNG) -5.2% in Wednesday’s trading as Stifel downgrades the tanker stocks to Hold from Buy, anticipating softer tanker rates and asset values in 2025.

China is a major driver for future demand in