ShippingWatch

Concordia projects muted tanker market for remainder of 2020

Product tanker shipping company Concordia Maritime reports significant growth on the bottom line in the second quarter. For the rest of 2020, the shipping company and CEO Kim Ullman are preparing for lower rates and more subdued demand.

Photo: PR/Concordia Maritime

Following a big improvement of its results in the first quarter, Concordia Maritime is now preparing for a weaker tanker market in the rest of 2020.

This happens after the Stena-owned company in the second quarter turned a deficit from last year into a profit now.

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