VLCC charter rates surge 3900% as tanker supply tightens

Daily charter rates for VLCC supertankers have skyrocketed to $1.2–1.3 million, up from ~$30,000 in January, a 3900–4300% increase. This reflects acute tanker scarcity, likely driven by sanctions, rerouting, or fleet constraints. The spike signals sharply higher oil transportation costs, which could feed into delivered crude prices and disrupt global supply chains.