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Tankers and Gas Freight rates VLCC

Very unmerry Christmas for VLCC owners as spot rates collapse

  • Average global VLCC rates have tumbled all the way back to pre-rally levels
  • Middle East Gulf-China TD3C index slumped to just $28,987 per day on Friday, half the rate before holiday break and the lowest reading since August 5
  • Average global spot rates for suezmaxes are almost double the VLCC average, with global aframax rates 25% higher than VLCCs

  • Analysis

Spot rates for VLCCs went off a cliff during the holidays, raising the question: Was the epic rally in the second half of 2025 a one-off, and is the party truly over, or is this just a temporary setback?

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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