Rinse and peel shrimp reserving both the shrimp and shells. Add clam juice, broth and shrimp shells to a large saucepan then bring to a boil over high heat. Reduce heat to medium-low then simmer uncovered for 15 minutes. Strain the broth into a heat-safe bowl, discarding shrimp shells. Set broth aside.

Return saucepan to stovetop. Increase heat to medium then add butter. When butter has melted, add onion, celery, carrot and salt. Cook 4–5 minutes until tender. Add garlic and cook for 1 additional minute. Add sherry or brandy and cook until mostly evaporated.

Add broth and uncooked rice then bring liquid to a boil. Reduce heat to low then cover and simmer for about 20 minutes until rice is tender.

Add shrimp then cook for about 1–2 minutes—depending on the size—just until heated through. If desired, remove a few shrimp for garnish and set aside. Purée soup, including the shrimp, until smooth, working in batches if necessary. If using a blender, do not fill the pitcher more than ⅓ full.

Return puréed soup to the pot then whisk in tomato paste, cayenne pepper and heavy cream. Return soup to a simmer over low heat but do not boil. Season to taste with salt and pepper, ladle soup into bowls then garnish with reserved shrimp, garlicky croutons or just a sprinkle of parsley or black pepper.