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Tankers and Gas Brokers Political Risk and Trade

VLCC spot rates partially recover from Christmastime plunge

  • Middle East-China VLCC spot rates nosedived from $122,480 per day in mid-December to $28,709 per day on January 6, and are now more than double that, at $61,704 per day
  • Spot indexes have only partially rebounded vs 4Q25 peak, yet VLCC equities have almost fully recovered; BWET tanker ETF posted a new all-time high on Friday
  • Sinokor’s secondhand buying spree has pushed up VLCC valuations, hiking net asset value estimates for VLCC equities

  • Analysis

VLCC rates are well below 2025’s six-figure highs, but the market still has legs. Spot indexes have already recouped a portion of the losses suffered during the holiday period

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