The VLCC (Very Large Crude Carrier) market in the first week of October 2026 is in a favorable condition due to increased demand for crude oil and a tightening of the vessel list. This positive trend is especially evident in the East Suez region and indicates a strong return of the crude oil market to its previous state.
Increased Demand for Crude Oil
According to reports, demand for crude oil has significantly increased, which has fueled increased commercial activities and immediate demand for crude oil loading. Last week, the number of empty vessels in this market reached a minimum, contributing to an increase in freight rates. For example, the freight rate for VLCCs has been reported between $30,000 to $40,000 per day, indicating a growth of 15 to 20 percent compared to previous weeks.
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Market Situation in East Suez
In the East Suez region, particularly in the oil markets of China and India, clear signs of increased demand are visible. These two countries, as the largest crude oil importers in Asia, have recently taken steps to purchase larger quantities of crude oil. This increase in demand has led to further acceleration in the large vessel market and encouraged shipping companies to expand their fleets and invest in this sector.
Additionally, considering the supply constraints from some major producers, this situation could lead to greater volatility in the market. Experts believe that if this trend continues, we may witness an increase in global crude oil prices, which will have a direct impact on the shipping market.
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