S&P and Newbuilding Weekly 02 October 2026

The tanker market experienced remarkable price escalations, with Suezmax rates surging to USD 408,000 per day on 01 October, a stark contrast to historical averages around USD 35,000. VLCC rates have escalated to USD 1,273,598 per day amid persistent geopolitical tensions in the Middle East, contributing to heightened asset values. The sale of the MT 'SEA LEOPARD' for USD 169 million exemplifies the current market enthusiasm, with overall asset prices in the tanker sector reflecting robust earnings potential supported by constrained tonnage supply. In the dry bulk segment, healthy demand has underpinned asset values, particularly for modern Kamsarmax vessels, as ongoing acquisition activity underscores the market's resilience despite broader macroeconomic challenges, including inflationary pressures and geopolitical factors impacting global shipping flows.