Why Sea Cucumbers Are Making Life Harder for Diesel Traders
- Chinese fishing ban to save endangered creatures idles boats
- Lower diesel demand from vessels spurs drop in margin for fuel
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On top of stricter emission controls and a move toward electric vehicles, Asia’s diesel traders now have to worry about sea cucumbers off China’s coast.
A Chinese move to protect endangered marine creatures with a fishing ban contributed to a drop in the so-called crack spread in Asia for diesel, a measure of returns from producing the fuel, to a 9-month low. That’s because thousands of the country’s fishing trawlers idled between May and September won’t require the fuel at a time when supplies are usually ample as refineries return from maintenance work.