VLCCs roared well into six-digit territory yesterday, lending credence to projections by sister title Splash Extra that suggest 2025 is on track to be the best year for overall tanker earnings for a decade. The TD3C route from the Middle East to Asia leapt by $37,000 yesterday to $125,100 as shipowners capitalised on extremely tight vessel availability. Winter is coming! “Charterers were squeezed, sometimes receiving only one vessel quote for a given date, resulting in many available ships quickly disappearing,” analysis by SEB, a Swedish bank, relayed. Activity from the US Gulf also surged, driving rates up to $13m and extending bookings well into December. “With still some uncovered cargoes remaining in the [Arabian Gulf] for the middle of the month, rates are expected to be heavily tested due to the scarcity of open ships,” SEB suggested. Analysts at Jefferies, an American investment bank, see continued strength for VLCCs in the coming months. VLCCs have now eclipsed their previous highs seen this cycle, when they peaked at around $115,000 a day in November 2022 and again in March 2023, according to Jefferies. “The short-term supply/demand picture in the [Middle East Gulf] is now not far off 1:1 and we are approaching a ‘pick a number’ territory,” Norwegian broker Fearnleys pointed out in a weekly report. “Attempts to talk about things balancing further out on the curve are met with a deaf ear by the owning community,” analysts at Fearnleys suggested, concluding: “Winter is coming!” googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); });