US-Iran conflict spurs record supertanker orders, $20B buying spree

Shipowners have ordered over twice as many supertankers in 2026 as in all of 2025, a $20B+ spree not seen in 25 years, driven by the US-Iran war redrawing trade routes and boosting long-haul crude shipments. This signals a structural shift in global oil logistics, with implications for shipping rates and energy supply chains. The scale of the order book suggests sustained demand for tanker capacity, but the long-term impact depends on conflict duration and trade route permanence.