Gulf-to-China Supertanker Charter Rates Hit $510,000 a Day

According to Oilprice.com, published on Tuesday, 18 August 2026 (27 Mordad 1405), the daily charter rate for very large crude carriers (VLCCs) picking up oil in the Persian Gulf for delivery to China surged to as high as 510,000 dollars a day this week, the highest level since the end of June. Per Baltic Exchange data compiled by Bloomberg and cited by Oilprice.com, the surge came as exporters sought vessels to deliver crude to Asian buyers despite a deteriorating security backdrop in the Strait of Hormuz.

Shipbroker Fearnleys said in its weekly report that tanker owners with enough risk tolerance to transit the Strait of Hormuz and return through the same chokepoint stand to earn substantial money at these elevated rates. Per Oilprice.com, observable tanker traffic through the Strait of Hormuz dipped further over the weekend, though analysts say it remains difficult to estimate how much oil is actually leaving the region on vessels operating in "dark mode" with transponders switched off.