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Concordia Maritime: Tanker will exit the downturn soon

The tanker carriers strained, but unlike previous times, the fluctuations between ups and downs will happen faster, Concordia Maritime CEO Kim Ullman tells ShippingWatch. He expects an improved market already a year from now.

Photo: Olof Ohlsson

The tanker market has historically been characterized by 6-7 bad years followed by 2-3 good years, says Kim Ullman, who has been in the tanker sector for more than 30 years. He has spent the past three years serving as CEO of the Stena group's listed tanker carrier Concordia Maritime.

It is from this seat that he tells ShippingWatch that, in his view, the tanker market has changed its nature, moving away from the long cyclical developments.

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