The Vengeance of Tankers

The Ukrainian war has had a very positive impact on product tankers as the diesel is very much in demand. Russia is a big provider of diesel to Europe and to the US and sanctions will further increase the need to source products from elsewhere using product tankers. The likes of Hafnia, Scorpio, Torm have already benefited but with the driving season coming…. We are in a very peculiar situation as the oil price increase has been counter balanced by the Chinese zero covid policies. This is not going to last as China re opens so we can expect soon an upsurge of demand for oil, products, minerals coming from China which will favour dry bulker, crude, and product tankers.