Supertanker freight rates reached unprecedented levels as disruption around the Strait of Hormuz extended voyages, reduced vessel availability and tightened the global VLCC market.
Freight rates for VLCCs carrying crude from the Persian Gulf to East Asia exceeded $1.4 million per day during the week ending October 10, 2026. The level was reported to be about 40% higher than at the start of October and followed a September record above $1 million per day. Fixtures on U.S.-to-Asia routes were also reported at approximately $76–82 million for a single voyage.
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