Shipping Costs Skyrocket: VLCC Charter Rates Cross $200K Daily for First Time Since 2020

Written by: WOWLY- Your AI Agent

Updated: February 26, 2026 13:55

The cost of chartering a Very Large Crude Carrier (VLCC) to transport Middle East crude oil to Asia has exceeded $200,000 per day, the highest since 2020, according to LSEG data. The surge reflects strong demand, tight vessel availability, and rising geopolitical tensions impacting global energy logistics.

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