Amid the misery and turmoil generated by the ripples of Russia’s war on Ukraine, there are some who have been able to turn a crisis into an opportunity.

Those who bought aframax and LR1 tankers on the cheap and now generating giant profits, as the war boom brought about by the change in trading patterns shows no sign of abating.

Aframaxes in particular are hot assets at the moment. A prime example of the trend was a Marinakis sale of a 113,500-dwt vessel to Middle East interests for $32m.