Concordia Maritime CEO: The next two years will be good

The prospects for product tanker are looking good, at least for the next two to maybe three years, says Concordia Maritime CEO Kim Ullman. His biggest worry is that tanker shipowners might do a classic shipping maneuver. ShippingWatch has interviewed Ullman.

Photo: Concordia Maritime

2018 would mostly be a lost year for tanker shipping, predicted one tanker CEO at the beginning of the year, and now that the year is over, most stakeholders would likely agree. At Swedish product tanker shipping company Concordia Maritime, Chief Executive Kim Ullman is ready to leave the year behind.

The fourth quarter may have been even better than expected, with rate levels surpassing even the most optimistic forecasts. But it was not enough to pull the carrier's full-year results into black. The result after taxes came to a deficit of SEK 182.1 million (USD 20.0 million), while revenue grew to SEK 1 billion.

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