Very large crude carrier (VLCC) rates for cargoes loading in the Gulf of Oman have surged to levels previously associated with voyages through the Strait of Hormuz, highlighting the sharp increase in tanker costs amid heightened regional security risks.
Tankers International reported that DHT Holdings’ 2025-built VLCC DHT Antelope has been fixed to S-Oil at $1.162 million per day for a voyage to South Korea. The fixture remains on subjects.
A second fixture has also crossed the million-dollar threshold. Koch Shipping’s VLCC Silverstone has been confirmed on a deal paying $1.015 million per day for loading in the Gulf of Oman.
The latest fixtures mark a substantial increase compared with comparable Gulf of Oman deals concluded in recent weeks. Those fixtures had ranged between $719,000 and $864,000 per day, putting the newest rates close to $300,000 per day higher.
The sharp premium comes despite the Gulf of Oman presenting considerably less navigational risk than a transit through the Strait of Hormuz.
According to the Joint Maritime Information Center (JMIC), the risk level in the Gulf of Oman is classified as “moderate”, while the Strait of Hormuz carries a “severe” rating, the JMIC’s second-highest risk category.
Security concerns in the strategic waterway have intensified in recent days. At least 12 tankers have been attacked in the Strait of Hormuz since September 29, with several VLCCs among the vessels targeted.
The combination of heightened security risks around the Strait and the growing preference for Gulf of Oman loading is therefore continuing to place significant upward pressure on VLCC spot rates.
