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Tankers and Gas VLCC Asia Pacific

VLCC rates surge amid heightened Middle East unrest

A 2022-built VLCC is being fixed at more than $40,000 a day to haul crude from the Middle East Gulf to Asia. Elsewhere, the latest broker reports suggest average spot rates for eco-tonnage on key routes have exceeded $50,000 per day

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Any disruption to oil production and supply in the Middle East have been minimal thus far. However, the prospect of other countries being pulled into what is an unfolding situation has spurred some traders to book ships at this stage, thereby driving rates higher

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