{
  "id": 6126016,
  "title": "Americas VLCC rates spike to record highs on bullish fundamentals",
  "url": "https://urgent.news/2026/09/07/americas-vlcc-rates-spike-to-record-highs-on-bullish-fundamentals",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-07T10:00:59.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/americas-vlcc-rates-spike-to-record-highs-on-bullish-fundamentals/"
  },
  "original_language": "en",
  "account": "On September 4, Very Large Crude Carrier (VLCC) rates out of the US Gulf Coast reached record highs, driven by tight tonnage lists in the Atlantic Basin and stronger rates in other global markets. Market participants noted sparse position lists for early-to-mid October loading dates in the US Gulf Coast (USGC). Despite some failed fixtures, shipowners capitalized on bullish fundamentals, as evidenced by ST Shipping booking the VLCC Helios for an Oct. 13-16 laycan at $29.5 million. Platts assessed the freight for a VLCC run from the USGC to China at $29.5 million on September 4, surpassing the previous record of $29.3 million set on March 4. The assessment was 21.6% higher for the week. Higher rates in the Mediterranean, alongside strong rates in the Persian Gulf, led to upward pressure on Atlantic Basin and USGC prices. Shipowners saw further support from rising rates in the Mediterranean, with Pertamina reportedly booking the C. Progress for a Sept. 16 loading Sidi Kerir-Cilacap run at $29.75 million. The increased inquiry levels in the week ending September 4 provided upward momentum, as charterers competed for ships from the depleted list. Rates in the USGC-UK/Continental route remained untested, but continued to climb for transatlantic runs in response to firmer USGC-East rates. Some market players expected rates to rise further to $30 million before the end of the week. The spike in VLCC rates raised expectations that Suezmax rates would also likely climb, as charterers' preference may shift to the smaller ship class due to better economics.",
  "summary": "Very Large Crude Carrier rates out of the US Gulf Coast hit record highs on Sept. 4 as a tight tonnage list in the Atlantic Basin, coupled with firmer VLCC rates in other global markets, bolstered bullish sentiment. With increased volatility stemming from ongoing risks and uncertainty surrounding transits through the Strait of Hormuz, charterers ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}