S&P and Newbuilding Weekly 09 October 2026

Tanker market activity surged this week, with VLCC TCE earnings reaching unprecedented heights of USD 937,767 per day, underpinned by strong demand and geopolitical tensions affecting oil supply. Notable transactions included the MT 'VIEIRA' sold for USD 75 million and MT 'NICOLAOS' for high USD 90 million, indicating robust asset price appreciation amid a shortage of prompt tonnage. Suezmax and Aframax sectors also saw significant value increases, with affordability ratios for 5-year-old vessels making tankers exceedingly attractive compared to their historical averages. This surge in tanker values is further driven by geopolitical uncertainty in the Middle East, where tensions remain high, particularly in the Strait of Hormuz, leading to increased oil prices and market volatility.