Hormuz security fears feed sky-high large tanker rates

September 14, 2026 Brokers Poten said in their weekly tanker commentary: “Earnings on the benchmark AG-Far East route averaged $600,000 per day in August and reached more than $800,000 per day in September to date. It should be noted that these rates are for voyages originating within the Arabian Gulf. Due to the hazards associated with traversing the Strait of Hormuz, only a few owners are willing to take that risk, leading to sky-high rates.” Tankers International reported two VLCC fixtures from the Arabian Gulf to East Asia destinations on Friday with both in excess of $500,000 per day. Frontline’s Front Otra was reported fixed to Vitol at $530,000 per day for a voyage from the Arabian Gulf to Japan. Meanwhile the Olympic Shipping and Management VLCC Olympic Life was fixed to Mercuria at $603,000 per day for an Arabian Gulf to China voyage. Both fixtures are on subjects. Poten noted rates on other key routes were very high as well. “Vessels loading in the Gulf of Oman just outside the Strait of Hormuz, can earn $450,000 per day. Even VLCCs that stay far way from the conflict zone can earn exceptional returns: $380,000 per day for West Africa – Far East and $275,000 per day for US – Gulf to Asia.” The 16-year old Olympic Trust was reported fixed to Idemitsu for a Arabian Gulf – East voyage loading in the Gulf of Oman at $441,000 per day according to Tankers International. As to what will happen over the longer term the Poten report noted: “If history tells us anything, it is that periods of exceptional rates are usually followed by periods of low earnings, especially if the high earnings have spurred an ordering bonanza.” The newbuilding orderbook sits at 40% of the existing fleet. The advice to owners was take advantage of the current market “as this may never happen again”.

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