VLCC Orders Surge Past $20 Billion as Shipowners Bet on Permanent Disruption
The shipping industry is witnessing a record surge in orders for Very Large Crude Carriers (VLCCs), with over $20 billion committed to new vessels in just one year. This pace of ordering has not been seen since 1973, the year of the original oil embargo.
The striking aspect of this trend is that shipowners are betting on permanent disruption in critical crude shipping corridors, rather than growth in oil demand. They believe that the Strait of Hormuz will remain near-shut, the Red Sea unsafe, and long-haul Atlantic sourcing the new normal.
According to three independent data providers - Signal Group, Allied Shipbroking, and Clarksons Research - a record number of VLCCs have been ordered in 2026. The total crude tanker orderbook has reached around 130 million deadweight tons, accounting for 27% of the existing operating fleet.