VLCC rate outlook for 2026: not as high as today, not as low as 2024
- Temporary market drivers that pushed VLCC rates to six figures should alleviate, but structural drivers should keep rates at very healthy levels next year
- Lower oil prices in 2026 could temper Middle East exports, but exports from the Americas to Asia should provide continued structural support for VLCCs
- Outcome of Russia-Ukraine peace talks is a variable for tanker markets next year; for VLCCs, it could be a positive
Analysts speaking at the Breakwave Day forum on Thursday predicted continued strength in the VLCC market next year, even after spot rates fall back from this quarter’s stratospheric highs
