London - The VLCC market is enjoying a strong upswing, with spot earnings consistently exceeding $100,000pd as rising OPEC supply has boosted vessel demand in the Arabian Gulf. With OPEC+ targets indicating an oversupplied oil market through 1Q26, the corresponding firm stocking requirements are expected to support elevated VLCC earnings in the near term.
Meanwhile, skyrocketing freight rates have resulted in a sudden surge in VLCC ordering with 27 VLCCs ordered so far in November. Although the overall 58 VLCC ordered in the first 11 months of 2025 is still lower than 68 VLCCs ordered during the . . .
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