Kim Ullman has drawn on all his experience to give an upbeat assessment of tanker prospects in his final market outlook report for Concordia Maritime.

The shipping veteran with 40 years in the business is stepping down as chief executive of the Stena-controlled tanker company at the end of the year.

In his last update, he writes that the tanker market remains "surprisingly weak", but a rebound will eventually occur when drawdowns of strategic oil reserves end.