Oil Tanker Orders Hit Record High As Shipowners Bet On Global Trade Disruptions—A 2008 Warning Sign?

Orders for the world’s largest oil tankers have surged to a record high, eclipsing the previous peak reached during the 2008 financial crisis and reviving concerns that a future supply glut could leave shipowners competing more aggressively for cargoes.

Supertanker Orders Reach Unprecedented Levels

Orders for Very Large Crude Carriers (VLCCs) have climbed to 262 vessels worldwide, according to data shared by market commentator The Kobeissi Letter on X Tuesday, marking the largest order book on record.

VLCCs are among the largest ships in the world and serve as the backbone of long-haul crude oil transportation, connecting major producing regions in the Middle East and West Africa with energy consumers across Asia, Europe and North America.

Each vessel can transport up to 2 million barrels of crude oil, making the segment one of the most important links in the global energy supply chain, The Kobeissi Letter said.

It added that the pace of ordering has accelerated rapidly, with the current order book representing a more than 1,000% increase from levels seen just two years ago, underscoring how dramatically sentiment has shifted across the tanker industry.