Record Crude Tanker Orders

Record Crude Tanker Orders

Crude tanker contracting has reached its highest level on record, with owners rushing to secure new VLCC and suezmax capacity as strong freight markets, ageing fleets and geopolitical disruption reshape the sector’s investment case.

Strong Demand for VLCCs

Versus 2025, this year has seen more than double the number of VLCC orders, with 151 VLCCs ordered so far. Most of the remaining orders have been in the suezmax segment, where capacity ordered has already matched the full-year 2025 total.

• VLCCs now account for 79% of the crude tanker capacity contracted this year.
• The crude tanker orderbook has now reached 130m dwt, the highest on record and equivalent to 27% of the existing fleet.

Ordering Wave

The ordering wave is also geographical, with Greece remaining by far the most active tanker ordering nation, and China dominating on the shipbuilding side.