Concordia Maritime chief executive Erik Lewenhaupt is warning of more volatility ahead for product tankers due to the war in Ukraine.
Writing in the shipowner’s annual report, Lewenhaupt said last year became one of the most challenging years ever for tanker shipping and 2022 began with rates at low levels.
He added: “Good conditions remain for a stronger market, but war and tragedy in our world have made the uncertainty great and we can expect a continued volatile future.”
