Middle East tanker spree stokes VLCC glut fears as 2028–2029 deliveries loom
MSI1 September 20261 Minute
As the boom in the very large crude carrier (VLCC) market has continued this year on the back of the Middle East war, some are raising concerns about a supply glut in the tanker market.
According to Maritime Strategies International (MSI) on the 28th August, 177 VLCCs were contracted for new construction worldwide in the first half of this year. The total deadweight tonnage (DWT) of VLCCs ordered in the first half reached 54.5 million DWT, surpassing the previous annual record of 32.6 million DWT set in 2006. Read more at Chosun Biz