VLCC Orderbook Reaches Record High Amid Hormuz Closure

The VLCC orderbook has surged to a record level in 2026, with over 120 vessels ordered this year, surpassing the previous highest annual total. This increase has driven the orderbook from 5% of the global VLCC fleet in early 2024 to 35% today. The surge reflects market expectations of continued disruption in tanker routes, particularly due to the closure of the Strait of Hormuz. Despite the geopolitical challenges, tanker operators are investing heavily in newbuilds to meet anticipated demand. The current orderbook expansion highlights the industry's strategic response to evolving trade dynamics and supply chain uncertainties.