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Concordia CEO hopes global oil inventories need replenishment soon

Oil reserves in OECD nations are now so low that replenishments must be necessary very soon, says CEO of Concordia Maritime Kim Ullman to ShippingWatch. He is impatiently waiting for OPEC to let the oil flow, enabling his tankers to earn money again.

Photo: PR/Concordia Maritime
BY

How long will the global economy be able to keep the wheels in motion before the world's dwindling oil inventories will need to be replenished?

This is a question that Concordia Maritime's CEO, Kim Ullman, has asked himself multiple times over the past months, as his Stena-owned product tanker company is hemorrhaging money due to low rates and a lack of demand in the tanker market.

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