Product tanker owners are facing a brutal downturn in the market, Concordia Maritime chief executive Kim Ullman warns.
His bearish view - not shared by peers at a conference in London today - came as Ted Petrone of Navios dismissed market concerns relating to a cut in Opec production levels.
Speaking at the Capital Link Forum in London, Ullman said: “My straight answer to where we are on the cycle: I think we are just starting on a brutal downturn in the market.”
According
