Crude tanker newbuilding contracting hits record high at 60m DWT

AI Summary

Crude tanker newbuilding contracting has reached a record high of 60 million deadweight tonnes (DWT) across 234 ships in 2026, driven by a surge in orders for Very Large Crude Tankers (VLCCs). The trend responds to high freight rates and the need to replace aging tanker fleets globally.

“So far this year, crude tanker newbuilding contracting has reached 60m deadweight tonnes (DWT) across 234 ships, driven by a surge in orders for Very Large Crude Tankers (VLCCs). This already makes 2026 the year with the highest crude tanker contracting on record. High freight rates and the need to replace an increasingly older fleet ...