Tanker Freight Rates Surpass Historical Averages Amid Geopolitical Disruptions

Oil tanker freight rates have surged due to shifting trade patterns, geopolitical disruptions, and extended voyage distances, pushing tonne-mile demand to record highs.

According to Catrine Vestereng, Senior Vice President and Segment Director for Tankers at DNV, 'sanctions have reshaped trade patterns and extended shipping distances; combined with tightening vessel supply and rising tonne-mile demand, this has pushed tanker freight rates well above historical averages.'

The market's positive momentum is rooted in profound adjustments to global oil flows, driven by geopolitical uncertainty.

As of the end of 2025, vessel capacity utilization exceeded 90%, and freight rates remained well above historical norms, with VLCC and Suezmax rates performing particularly strongly, exceeding their ten-year averages by more than 60%.