Disrupted crude flows, sanctions and floating storage sustained exceptional tanker earnings in late 2025.
Crude tanker earnings held near cycle highs in late November, even as analysts began to ask whether a prospective ’peace dividend’ in Ukraine could erode some of the structural support behind tonne-mile demand.
MSI’s latest HORIZON Monthly for oil tankers reported benchmark VLCC spot earnings averaged US$101,000/day in the first two weeks of November, up from US$78,000/day in October. Read more at Riviera.
