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(https://gcaptain.com/join-the-club/?mt_source=HambugerNavigation) Sign Up (https://gcaptain.com/?memberful_endpoint=auth) Sign In   Don’t Miss Your Daily Briefing for the Maritime Industry Join the leading maritime news network — trusted by our 107,005 members  (user)   () (Enter your email)  ()  (Subscribe)        (https://www.facebook.com/gCaptain-27223368885/) (facebook)  (https://www.instagram.com/gcaptain) (instagram)  (https://twitter.com/gCaptain) (twitter)      (tanker aerial)  Photo: By angelstructure / Shutterstock Supertankers Racing to Middle East Worsen Global Ship Crunch (https://gcaptain.com/author/bloomberg/) Bloomberg Total Views: 151   October 8, 2026   (Bloomberg) — Supertankers are racing to the Middle East to cash in on soaring fees for carrying oil through the (https://gcaptain.com/tag/strait-of-hormuz/) Strait of Hormuz , exacerbating a global shortage of vessels that has spiked freight rates.  Crude flows through the waterway, which connects the Persian Gulf to international markets, have recovered to near pre-war levels in recent weeks despite continued attacks on ships. But the perils of the trade have prompted tanker fees to skyrocket: Moving oil from the gulf to East Asia costs more than six times as much as it did prior to the conflict. More than 40% of the world’s fleet of about 850 very large crude carriers are now either in the Persian Gulf or within a couple of days sailing time from it, according to Signal Ocean, a shipping data provider. The concentration of vessels in the area is being exacerbated by the so-called shuttling trade where crude is transferred to other ships  — which aren’t willing to take the risk of crossing Hormuz — in the Gulf of Oman or at new transshipment points, such as off the west coast of India. “The recent months have been have been the best of all time for crude tankers,” said Georgios Sakellariou, a freight analyst at Signal Ocean. “The major issue is that the ship-to-ship system outside Hormuz is inefficient and that’s really stretching vessel supply there and elsewhere.” The number of empty VLCCs heading to Atlantic Ocean ports has halved from a month ago, the Signal Ocean data show. The dearth of supertankers is also changing the composition of the oil fleet elsewhere, driving an increase in the amount of smaller vessels that don’t benefit from economies of scale like the larger carriers do.  Meanwhile, crude producers outside of the Middle East — particularly in the Americas – are still maintaining high levels of output, even as flows from the Persian Gulf rebound. All of this is rippling through oil freight markets worldwide, and supercharging already elevated fees. At least one VLCC was offered this week to sail from the US Gulf to Japan at a potential record fee of $82 million, or more than $40 a barrel. That’s a 50%-plus increase on the route from just three weeks ago. For the Persian Gulf to East Asia journey, which takes about three weeks, assessed supertanker rates reached an all-time high of nearly $1.4 million per day on Wednesday. That’s a surge of almost 540% since before the war, compared with an increase of about 40% in Brent oil over the period. The scarcity and sky-high fees for supertankers have prompted a switch to smaller Suezmax and Aframax vessels for non-Middle Eastern routes. So far, most of the deals to carry US oil loading in November to Asia involve these ships, driving up those costs in turn. “The VLCC’s smaller sisters, Suez- and Aframaxes, are showing no sign of slowing down either, so there’s really nowhere to hide right now,” shipbroker Fearnleys said in a note on Monday. © 2026 Bloomberg L.P.  Tags: (https://gcaptain.com/tag/iran-conflict/) Iran conflict  (https://gcaptain.com/tag/strait-of-hormuz/) strait of hormuz  (https://gcaptain.com/tag/supertankers/) supertankers   (logo)  Subscribe for Daily Maritime Insights Sign up for gCaptain’s newsletter and never miss an update — trusted by our 107,005 members  (user)   () (Enter your email)  ()  (Subscribe)        (https://gcaptain.com/attack-risks-rise-for-tankers-as-iran-vows-to-block-more-hormuz-routes/)  Prev (https://gcaptain.com)  Back to Main (https://gcaptain.com/hurricane-isaias-shuts-down-nearly-two-thirds-of-gulf-oil-production/) Next      (gCaptain-logo)   Stay Informed. Stay Connected.  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(https://gcaptain.com/join-the-club/?mt_source=ArticleSidebar) Sign Up (https://gcaptain.com/?memberful_endpoint=auth) Sign In       Related Articles   (https://gcaptain.com/saudis-in-talks-to-formalize-hormuz-shuttles-in-fight-for-market/) (Vessels in the Strait of Hormuz, as seen from Musandam)    (https://gcaptain.com/category/shipping/) Shipping  (https://gcaptain.com/saudis-in-talks-to-formalize-hormuz-shuttles-in-fight-for-market/) Saudis in Talks to Formalize Hormuz Shuttles in Fight for Market  (Bloomberg) — Saudi Arabia is in talks with customers to offer oil loadings next year outside the Strait of Hormuz in long-term contracts, formalizing a system the kingdom has been... 2 hours ago Total Views: 105      (https://gcaptain.com/u-s-sanctions-22-more-tankers-in-crackdown-on-irans-shadow-fleet/) (U.S. Sanctions 22 More Tankers in Crackdown on Iran’s Shadow Fleet)    (https://gcaptain.com/category/news/) News  (https://gcaptain.com/u-s-sanctions-22-more-tankers-in-crackdown-on-irans-shadow-fleet/) U.S. Sanctions 22 More Tankers in Crackdown on Iran’s Shadow Fleet  The United States on Thursday imposed sanctions on 22 tankers and dozens of individuals and companies linked to Iran’s oil trade, expanding its campaign to cut off Tehran’s remaining petroleum... 5 hours ago Total Views: 165      (https://gcaptain.com/tanker-attack-off-qatar-signals-wider-threat-beyond-hormuz/) (Vessels in the Strait of Hormuz, as seen from Musandam)    (https://gcaptain.com/category/news/) News  (https://gcaptain.com/tanker-attack-off-qatar-signals-wider-threat-beyond-hormuz/) Tanker Attack Off Qatar Signals Wider Threat Beyond Hormuz  A chemical tanker was struck by multiple projectiles off the coast of Qatar on Wednesday, with casualties reported among its crew, in the latest attack on commercial shipping as violence... 9 hours ago Total Views: 377        (logo)  Get The Industry’s Go-To News Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news — just like 107,005 professionals  (user)   () (Enter your email)  ()  (Subscribe)          (close)   ()    Secure Your Spot on the gCaptain Crew  Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox — trusted by our 107,005 members  (user)   () (Enter your email)  ()  (Subscribe)            (gCaptain-logo)    The Go-To Source for your Daily Maritime and Offshore News Stay informed with the latest maritime and offshore news, delivered straight to your inbox — trusted by our 107,005 members.  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