Tanker CEOs see growth over the next two years

Three leading CEOs of product tank carriers in Europe and the US gave their thoughts on the rate decline seen in the last few weeks, and the fact that next year will see more ships on the water. Concerns? See what they said.

Photo: Presse

Robert Bugbee, CEO and Chairman of the Monaco-USA based shipping group Scorpio, tends to be confident and self-assured, at least when it comes to Scorpio's product tankers. Now, much like other leaders of world's tanker carriers, he can satisfactorily see how the record low oil price has fueled business. And a panel debate organized by Capital Link Shipping Tuesday this week showed that Bugbee is not the only one with a strong belief in the product tanker market despite an increasing number of ships on the water next year.

Other attendees at the debate included the CEO of Swedish carrier Concordia Maritime, Kim Ullman, and Marco Fiori, the CEO of Italy's D'Amico. Both participated in the panel debate on the future prospects and challenges faced by the product tanker market.

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