Product tanker owners are experiencing the early stages of a multi-year upturn, according to Concordia Maritime chief executive Kim Ullman.
A first taste of the good times came in the final three months of 2018 and now volatility has arrived with rates at higher levels.
“From the second half of this year, and the next two years after that, we are seeing a sustainable upturn,” Ullman told TradeWinds after Concordia returned to profit in the first quarter.
