The cost of moving crude on VLCCs from the US Gulf to Asia has surged. The increase reflects reduced vessel availability, longer trading patterns and elevated operational risk.
On October 9, 2026, freight costs for moving crude on VLCCs from the US Gulf to Asia reached levels that made a single voyage comparable with exceptionally large capital expenditures. Shipbroker Gibson put the cost of one such journey at about $80 million; another report said the freight component equated to roughly $41 per barrel, compared with approximately $4.50 a year earlier.
Source:
gcaptain.comShare this article
Related news
HMM approves 2.17 trillion won investment in 12 container ships
South Korean carrier HMM approved a 2.1678 trillion-won programme covering eight newbuildings and four second-hand container vessels with combined capacity of 114,100 TEU.
Drewry: Global Container Rates Rise to $4,485 per FEU Amid Fuel-Cost Pressure
The Drewry World Container Index rose 3% week on week to $4,485 per 40-foot container. Carriers continue passing higher fuel costs to shippers through emergency surcharges.
Tanker Rates Surge as Longer Voyages and Middle East Risks Tighten Tonnage
Oil tanker freight costs have reached record levels as vessels avoid high-risk areas, undertake additional ship-to-ship transfers and spend longer in transit.