Stena Bulk chief executive Erik Hanell does not believe the full fallout of the Ukraine war has yet been felt in tanker markets.

The disruption to energy markets has been so wide-ranging that it will take months to play out, the boss of the Swedish suezmax and product carrier specialist said.

“The last couple of months have been okay, even if there’s always a lag in when you see black figures compared with red figures,” he told TradeWinds.