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Tanker company after attacks on oil facility: "It could get pretty ugly"

The tanker market is fraught with increasing anxiety and uncertainty after two oil facilities were attacked by drones in Saudi Arabia, fanning the flames of existing tensions. "Not good," Kim Ullman, CEO at Concordia Maritime, tells ShippingWatch.

Photo: Planet Labs Inc/Reuters/Ritzau Scanpix

Uncertainty and anxiety are increasing on the tanker market after Saturday saw drones attacking and destroying two oil facilities of state-owned oil company Saudi Aramco, thereby halving Saudi Arabia's oil output.

The region around the Strait of Hormuz, and not least Iran and Saudi Arabia, has been at the center of conflicts and geopolitical unrest during recent months. This uncertanity is now on the rise, says Kim Ullman, chief executive at tanker company Concordia Maritime, which controls a fleet of 14 tanker vessels.

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