INTELLIGENCE FILE · MARKET
Tankers
Crude and product tanker markets, fleet supply, freight, sanctions, routing and oil-trade dislocation.
2updates · 7d
10updates · 30d
1analysis pieces
12key entities
LATEST VERIFIED DEVELOPMENT
Record Tanker Costs Could Cut US Crude Exports to Asia to Seven-Year Low
Asian orders for US crude delivery in November have fallen sharply as tanker costs on the US Gulf Coast-to-China route surged following the Iran conflict, undermining the economics of long-haul shipments.
EXECUTIVE SNAPSHOT
Key developments
15 Oct 2026Frontline and Nereus Suezmax tankers fixed as charterers seek longer termsShipping Markets →10 Oct 2026Koch Charters DHT VLCC in Red Sea as Tanker Rates Continue to RiseShipping Markets →02 Oct 2026Pan Ocean linked to $109.6m VLCC fixture as Trafigura expands tanker fleetShipping Markets →
STORY TIMELINE
How the story evolved
IMPACT · relevance 36Record Tanker Costs Could Cut US Crude Exports to Asia to Seven-Year LowAsian orders for US crude delivery in November have fallen sharply as tanker costs on the US Gulf Coast-to-China route surged following the Iran conflict, undermining the economics of long-haul shipments.
CORE · relevance 39UAE Closes Beaches as Offshore Tanker Oil Spill Triggers Containment ResponseUAE authorities have launched containment operations and environmental assessments after an offshore tanker oil spill led to beach closures around Umm Al Quwain and precautionary restrictions in Sharjah.
CORE · relevance 39Unsold Brazilian cargoes weigh on Atlantic VLCC demandUnsold Brazilian cargoes are reducing demand for VLCC employment in the Atlantic, according to Kpler. The data provider said lower freight costs could eventually encourage buyers to return.
CORE · relevance 66Product tanker spot market reaches record levels amid freight rallyProduct tanker spot earnings have climbed to an all-time high, according to TradeWinds, despite a contraction in global refined-product cargo volumes.
CORE · relevance 50International Seaways to acquire Bruton VLCC fleet in $370m merger dealInternational Seaways has agreed a $370m merger transaction to take control of Bruton’s VLCC fleet, with the US tanker owner set to issue shares in the deal.
CORE · KEY · relevance 100Frontline and Nereus Suezmax tankers fixed as charterers seek longer termsCharterers are shifting attention from one-year arrangements towards three-year tanker fixtures, with brokers indicating that longer-term value remains available in the Suezmax market.
CORE · relevance 66Torm Raises 2026 Profit Forecast by $300m as Product Tanker Rates Stay StrongDanish tanker owner Torm has increased its 2026 profit forecast by $300m, citing an exceptional product tanker market and expectations that freight rates will remain firm.
CORE · KEY · relevance 73Koch Charters DHT VLCC in Red Sea as Tanker Rates Continue to RiseKoch has fixed a DHT VLCC for a Red Sea voyage as tanker earnings rise worldwide, with Worldscale 1,000 reported to be in sight.
IMPACT · relevance 36Tanker Fire Reported After Projectile Strike in Strait of HormuzA tanker was hit by an unknown projectile while transiting the Strait of Hormuz on October 1, causing a fire onboard, according to UK Maritime Trade Operations. The crew was reported safe.
CORE · KEY · relevance 73Pan Ocean linked to $109.6m VLCC fixture as Trafigura expands tanker fleetPan Ocean has reportedly secured a VLCC fixture valued at $109.6m, according to TradeWinds. The deal emerged a week after Trafigura unveiled an Oslo-bound tanker vehicle.
CORE · relevance 47Iran Claims Strike on Togo-Flagged Tanker in Hormuz as Italy Plans Red Sea EscortsIran’s Revolutionary Guards said they struck the product tanker Trend in the Strait of Hormuz, while Italy is preparing a framework to escort nationally linked merchant ships through Bab el-Mandeb.
IMPACT · relevance 36Unreported Foreign Tanker Voyages Raise Questions Over Jones Act Waiver DataForeign-flagged tankers carried petroleum products between U.S. ports under a Jones Act waiver without appearing in MARAD’s public reports, according to a Bloomberg Government analysis.
IMPACT · relevance 36LNG Tanker Vivit Africa Reports Systems Failure, Suspected Cyber AttackThe LNG tanker Vivit Africa LNG experienced a systems failure while approaching Italy, with crew reporting a suspected cyber attack. Investigations are ongoing and no perpetrator has been identified.
IMPACT · relevance 36Iran and US Escalate Tanker Attacks Around Strait of HormuzIran said it targeted 10 ships near the Strait of Hormuz after US forces sank five Iranian oil tankers, marking the largest declared exchange of attacks on shipping during the six-month conflict. The escalation pushed Brent crude above $100 a barrel.
CORE · relevance 39Hormuz commodity ship traffic falls to lowest level since May after tanker strikesCommodity vessel transits through the Strait of Hormuz averaged 10 per day over the latest 10-day period, their lowest level since May, as attacks on tankers sharply increased risks for commercial shipping.
IMPACT · relevance 36Saudi Arabia Accuses Iran of Deadly Attack on Bahri Tanker in Strait of HormuzSaudi Arabia said an Iranian attack on Bahri-owned tanker Sidr killed two Filipino seafarers while the vessel was transiting the Strait of Hormuz. Bahri said it was coordinating with authorities following the security incident.
IMPACT · relevance 36US Strikes Iran as Tanker Attacks Heighten Hormuz Supply RisksThe United States launched new strikes against Iranian targets after reported attempts to attack commercial shipping, while two supertankers carrying Saudi oil were hit by unknown projectiles as they sailed out of the Strait of Hormuz.
CORE · relevance 47Two seafarers killed in Strait of Hormuz tanker attackUKMTO has confirmed that two seafarers died following an August 31 tanker incident in the Strait of Hormuz. Saudi Arabia identified the casualties as Filipino crew members aboard the Saudi-owned VLCC Sidr, taking the reported death toll from recent regional attacks on commercial shipping to at least 18.
CORE · relevance 52US escalates response as tanker attacks intensify near Strait of HormuzThe US has struck Iranian state tankers and military infrastructure following attacks on commercial shipping near the Strait of Hormuz, while the laden VLCC Senegal Prosperity remains abandoned and listing off Oman.
IMPACT · relevance 26Hormuz vessel traffic falls as tanker attacks heighten security concernsVisible commodity vessel transits through the Strait of Hormuz fell to five per day over the weekend as operators responded cautiously to continued attacks. The IMO renewed calls for unhindered navigation, saying up to 400 ships and around 6,000 seafarers have been unable to leave the Persian Gulf safely.
IMPACT · relevance 36Tanker Struck in Strait of Hormuz as Navigation Risks PersistThe tanker AL SALAM II was hit by an unknown projectile near Khasab, Oman, while sailing eastbound through the Strait of Hormuz. Its crew extinguished a resulting fire and no injuries or environmental impact were reported, as mine-clearance work and regional talks on safer navigation continue.
CORE · relevance 77VLCC Buying Drives 53% Surge in Tanker S&P ActivityGlobal tanker sale and purchase transactions rose 53% year on year to 365 vessels between January and July 2026, according to Xclusiv Shipbrokers. VLCC and ULCC deals led the market, while demand remained strong for both modern ships and older tonnage.
IMPACT · relevance 36Tanker Catches Fire After Projectile Strike Off Saudi Arabia’s YanbuA tanker was hit by an unidentified projectile 63 nautical miles west of Yanbu, causing a fire on its main deck, according to UKMTO. All crew members were reported safe, with no environmental impact identified.
CORE · relevance 100Four Owners Order VINGA Product Tankers for 2028-2029 DeliveryFureBear, O.H. Meling and Älvtank have ordered four 17,999-dwt VINGA product tankers from China Merchants Jinling Shipyard. The Swedish-flagged vessels will join the Gothia Tanker Alliance following delivery in 2028 and 2029.
CORE · relevance 70Panama Canal Congestion Pushes LPG Tankers to Alternative RoutesDelays and cargo restrictions at the Panama Canal are prompting LPG tanker operators to consider ship-to-ship transfers and longer voyages around South America as they seek to maintain flows between the US Gulf Coast and Asia.
ANALYSIS · relevance 83Jones Act Waiver Opens US Coastal Trade Opportunities for International TankersA temporary Jones Act waiver is altering US coastal tanker flows by allowing foreign-flagged vessels to carry domestic cargoes when qualified US tonnage is unavailable, according to Intermodal. Product tankers are expected to benefit most, while longer West Coast voyages could generate additional ton-mile demand.
CORE · relevance 70Venezuela’s Ageing Oil Terminals Leave Tankers Waiting Up to 30 DaysInfrastructure failures, power outages and crude quality problems at Venezuela’s oil terminals are delaying tanker loadings and limiting exports despite higher production. Congestion is particularly acute near the Jose port, which handles about 70% of the country’s oil exports.
CORE · relevance 47Armed Men Hijack Sanctioned Tanker Sibu 1 in Gulf of AdenSix armed men have seized control of the US-sanctioned product tanker Sibu 1 in the Gulf of Aden and redirected it toward Somalia, according to UKMTO. The incident is the second reported hijacking in the region within days.
IMPACT · relevance 36Armed Group Reportedly Hijacks Tanker in Gulf of AdenSix armed individuals reportedly boarded an Eritrea-flagged oil products tanker east of Al Mukalla after it issued a distress call. The vessel is believed to be heading towards Somalia, while the crew’s status remains unknown.
IMPACT · relevance 36IMO condemns fatal attack on tanker Settebello near Strait of HormuzIMO Secretary-General Arsenio Dominguez has condemned the attack on the Palau-flagged tanker MT Settebello off Oman, which reportedly caused an onboard fire and killed three seafarers. The IMO has called for a full and transparent investigation.
CORE · relevance 40Tanker Hull Damaged in Ice on Russia’s Northern Sea RouteAn unnamed tanker sustained hull deformation while sailing through Arctic ice with icebreaker assistance, resulting in a 53 million-ruble insurance payout. The incident comes as Russia increases crude oil shipments to Asia via the Northern Sea Route.
IMPACT · relevance 36Armed Group Boards Tanker off Yemen and Diverts Vessel Towards SomaliaSix armed people boarded and took control of a tanker in the Gulf of Aden before diverting it towards Somalia, according to the United Kingdom Maritime Trade Operations. The condition of the crew and vessel remains unknown.
IMPACT · relevance 36Middle East-China VLCC Earnings Approach $510,000 a DayAssessed VLCC earnings on the Middle East-to-China crude route have risen to nearly $510,000 a day, their highest level since late June, as Persian Gulf exporters seek additional tonnage amid continuing uncertainty over Strait of Hormuz transits.
IMPACT · relevance 36Strait of Hormuz Shipping Slows Sharply Following Tanker AttacksCommodity vessel movements through the Strait of Hormuz fell sharply over the weekend after attacks on tankers, while efforts to resolve the conflict between the United States and Iran remained stalled, according to ship-tracking data and regional reports.