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Concordia Maritime expects a stronger tanker market from summer onwards GÖTEBORG, Sweden, Feb. 18, 2021 /PRNewswire/ We are now in the middle of the first quarter of 2021 and the tanker market remains very weak. We are not expecting any significant change during this quarter - but, as we wrote in the 2020 year-end report, we believe that there will be a gradual strengthening from Q2 onwards. Several interacting factors point to this: 1. A continuing increase in demand for oil and oil products World oil consumption continues to increase. With vaccines, stimulus packages and general optimism, the global recovery is now clearly on the right track. We, and many others, consider that oil consumption during the second half of the year recovered sufficiently well to have a positive effect on demand for tanker transport. Analysts differ slightly on exactly how consumption is developing. JP Morgan and others predict that demand will be back to approaching 100 millio ....
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Tough fourth quarter sends Concordia Maritime into the red for 2020 shippingwatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from shippingwatch.com Daily Mail and Mail on Sunday newspapers.
Invitation To Teleconference/Audio Transmission News provided by Share this article GÖTEBORG, Sweden, Jan. 20, 2021 /PRNewswire/ Concordia Maritime welcomes you to participate in a teleconference/ audio transmission January 28 2021, at 03.00 pm CET. The session will feature a presentation of the Financial Statement for the full year 2020 and a Q&A session. Presiding: SE: +46851999383 Questions can be posed verbally via the teleconference, or in writing via the audio transmission. Participants will subsequently also have the opportunity to review the Financial Statement for the full year 2020 as a recorded version on Concordia Maritime s website, under Investor Relations. About Concordia Maritime Concordia Maritime ....
Concordia Maritime: High hopes for a strong market 2020-2021 It is sometimes said that the darkest hour is just before dawn. Let us hope that is true, as it has now been dark for a long time – both figuratively and literally. As we approach the end of 2020, we can see that the last few months have unfortunately been just as grim as we predicted for the tanker market. Since summer, lower oil consumption due to Covid-19 and OPEC’s largest ever oil production cuts – and therefore stock withdrawals close to the consuming countries – have hung like a heavy, wet blanket over demand for tanker transport. And right now, it is weaker than ever. ....