For the product tanker market to return to profitability, with high freight rates and solid earnings, several conditions need to be met in 2021.
Tanker ship operators need to not deploy additional capacity and they must refrain from ordering new ships. Furthermore, oil production and oil consumption need to continue on the expected, positive trend, says Kim Ullman, CEO of listed, Swedish product tanker operator Concordia Maritime, in an interview with ShippingWatch.
