Splash Extra

Some happy tanker owners

It’s good to be long on product tankers right now. Less so for crude oil.

Tanker owners’ opinion of the last few weeks will be formed by the constitution of their fleet. On the whole, owners who are long products tankers and short crude oil tankers will be happier.

The problem is China, the world’s biggest crude oil importer, the second biggest refiner, ahead of the EU but behind the US, and usually a leading exporter of refined products. The Chinese government’s public health policies have now shuttered in around one third of the economy for over a month. Transpo...

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