Denmark’s Torm is cashing in on a new opportunity happening “right now” to ship Chinese oil products into Europe.

New government export quotas mean cargoes are flowing West that were not being seen just a week or two ago, chief executive Jacob Meldgaard told a Fearnley Securities tanker webinar.

“Obviously, a discussion could be [had] around whether China’s relatively slow recovery in their economy will also be affecting negatively our markets,” the CEO said.