Rerouted Saudi crude flows and a shortage of available tankers pushed VLCC earnings on the Middle East–China route to a record daily time-charter equivalent of about $1.27 million.
Competition for large crude carriers intensified on September 25, 2026, after part of Saudi Arabia’s oil flows was rerouted through the Gulf of Oman. LSEG data showed that the daily time-charter rate for a VLCC carrying Middle Eastern crude to China reached a record $1.27 million. Stronger demand and constrained vessel availability sharply increased the cost of securing prompt tonnage.
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