VLCC market seen strong through 2026-28: CMES

China Merchants Energy Shipping (CMES) expects the global supertanker market to remain strong through 2026 and potentially into 2027-28, supported by a constrained supply of modern compliant tankers and a healthy demand outlook, the Secretary of its Board of Directors, Mr Kong Kang, said during an investor last week. The Shanghai-listed company, one of Asia’s largest VLCC operators, expressed a bullish outlook, anticipating that structural supply-demand tightness will support the VLCC market for several years. CMES said it expects the VLCC freight mid-point in 2026 to exceed that of 2025, while the outlook for 2027 remains uncertain but is unlikely to worsen given the continued growth in long-haul flows and global refinery capacity constraints.

VLCC freight on the Persian Gulf-China route reached an all-time high of w143 on Nov. 25, according to Platts assessments from S&P Global Energy, as per a report. 

 

 

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