Iran Conflict Fuels Supertanker Surge as Buyers Turn to Alternative Oil Sources
This year has seen an unprecedented surge in orders for supertankers, with more than twice as many vessels being commissioned compared to all of last year. According to data from Signal Group and Allied Shipbroking, over 217 Very Large Crude Carriers (VLCCs) have been ordered this year alone, a significant increase from the 93 recorded in 2025.
The value of these orders has exceeded $20 billion, the highest figure in at least 25 years. This surge is attributed to the ongoing conflict between the US and Iran, which has altered trade routes and increased demand for long-distance transportation of crude oil.
Rebecca Galanopoulos, a senior analyst at Veson Nautical, believes that shipowners are betting on increased volumes of long-distance oil transportation from the Atlantic Basin. She notes that buyers are diversifying their sources of supply by turning away from Middle Eastern oil and towards alternative regions.