VLCC Rates Hit Record $1.27 Million a Day
Capacity for ship-to-ship transfers of crude oil off the coast of Oman has reached its limits after Saudi Arabia diverted its flows from the port of Yanbu amid Houthi attacks, Reuters has reported, citing unnamed trading sources and analysts. The report said Saudi Arabia has sold some 60 million bar
VLCC & Crude Logistics Analysis
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Record Rate Surge: VLCC daily rates have reached a record-breaking $1.27 million per day.
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Oman Capacity Constraints: Ship-to-ship crude oil transfer capacity off the coast of Oman is now at maximum limits.
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Saudi Export Shift: Saudi Arabia diverted flows from the port of Yanbu due to Houthi attack threats.
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Volume Impact: Saudi Arabia has reportedly sold approximately 60 million barrels of crude oil.
Maritime Logistics & Energy Sector Impact
Ship owners are experiencing unprecedented daily revenue gains due to limited vessel availability and route diversions.
The diversion of Saudi exports and saturated ship-to-ship transfer hubs in Oman increase operational complexity for crude transit.
Market Radar: Next Developments
- Security status near the port of Yanbu
- Availability of alternative ship-to-ship transfer locations
Logistics & Supply FAQ
Why are VLCC rates currently surging? ▾
Rates are at record highs due to logistics bottlenecks in Oman and significant diversions of Saudi crude exports.
What triggered the shift in Saudi oil flows? ▾
Saudi Arabia diverted flows away from the port of Yanbu specifically in response to Houthi attacks.
This dispatch has been curated by Press Glob under international press wire fair-use reporting standards. Access the original reporting directly below.
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