Concordia Maritime: Recovery will continue in 2016

The increasingly solid conditions in the tanker market will continue into 2016, Concordia Maritime CEO Kim Ullman estimates in comment to ShippingWatch.

Photo: Stena AB

The tanker market, and the product tanker market especially, have experienced a massive boom in 2015 - a boom which CEO Kim Ullman of the Stena Group's tanker carrier Concordia Maritime described as fragile in July, but which he now has greater faith in, following the presentation of the second quarter interim report.

"I wouldn't call the product tanker market strong, but I would call it solid. The market is capable of absorbing the newbuildings which arrive and this seems to be a really good market. I am especially pleased that there is a balance between the growth in supply and the growth in demand. This is promising for the future," says Kim Ullman in an interview with ShippingWatch.

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