Poten: VLCC Rates Hit Unprecedented Levels Amidst Mideast Conflict

September 11, 2026 Participants in the tanker industry are no strangers to market cycles combined with extreme volatility. However, even seasoned veterans are looking at current developments in the market and scratching their heads. What is happening is truly unprecedented. It begs the question: What is driving this market and, more importantly, how sustainable is it? In this Tanker Opinion we will focus on the market for Very Large Crude Carriers (VLCCs), the most volatile and visible tanker segment. Just to provide a little context, VLCCs are large crude oil tankers, with a carrying capacity of two million barrels, They are the main vehicle for long-haul seaborne crude oil transportation. As per September 1st, the global VLCC fleet consisted of 928 vessels, with an average age of 13 years. VLCC earnings are notoriously volatile, driven by supply and demand dynamics in a highly competitive market.

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Maritime Executive