Ultra-large tanker freight rates halved in a week, while Capesize vessel rates rise against the trend

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智通财经2026/11/13 13:38

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The spot freight rate for Very Large Crude Carriers (VLCCs) has halved within a week to approximately $358,000 per day, while the freight rate for Aframax tankers has dropped by more than 50%.
Crude oil tanker stocks have still rebounded by 6%, but have already given back most of the 30% gains seen in September and October. The market is weighing how much of the record-setting Q4 performance has already been priced in.
Capesize vessels have moved in the opposite direction, with freight rates rising 17% to over $40,000 per day, despite shipments of iron ore from Australia and Brazil falling to a four-month low and the Simandou Northern Block commencing full production.
Other events to watch include Jensen Huang leaving Nvidia a few days before Anthropic’s IPO, hotter-than-expected US inflation, more tanker attacks in the Gulf region, and Q3 earnings calls pointing to a tightening deepwater drilling market from 2027 onward.

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Ultra-large tanker freight rates halved in a week, while Capesize vessel rates rise against the trend

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