EIA: Global Tanker Rates Off From 2025 High as Demand Dips


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Global crude oil tanker rates have dropped from the 
multi-year highs of 2025 due to seasonal declines in demand, although they 
remain elevated historically, the U.S. Energy Information Administration (EIA) 
said in an analysis published Tuesday (1/27).

   Rates for Very Large Crude Carriers (VLCCs) traveling from the Persian Gulf 
to Asia dropped by 43% between November 2025 and January 2026, the EIA noted.

   The decline was more pronounced with vessels headed for the U.S. Gulf Coast, 
which saw a 55% decrease in shipping costs over the same period.

   Suezmax tanker rates also showed signs of softening across major routes, 
with costs from the U.S. Gulf Coast to Europe falling by 10% in early January 
and Black Sea to Mediterranean dipping 2%.

   VLCCs are the largest vessels, typically holding 2 million barrels, while 
Suezmax tankers are mid-sized ships carrying roughly 1 million barrels through 
the Suez Canal.

   VLCCs traveling from the Persian Gulf to the U.S. Gulf Coast reached a peak 
cost of $21.57 per metric ton in late 2025. Suezmax rates from the U.S. Gulf 
Coast to Europe hit $27.91 per metric ton, up 107% year-on-year.

   The downward trend in crude transportation costs arrives as demand for 
tankers declines after the seasonal highs of late 2025. Tanker demand is 
typically high in October and November as East Asia countries build up heating 
oil and diesel inventories while adjusting to agricultural output from the fall 
harvest season.

   Despite the double-digit drops, the analysis showed Suezmax rates remained 
at elevated levels compared with historical averages after a volatile year for 
energy logistics.

    




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