VLCC newbuild bonanza smashes two-decade-old annual record in just six months

The VLCC newbuilding market has entered historic territory, with ordering across the final quarter of 2025 and the opening quarter of 2026 already surpassing the highest full-year total ever recorded. The orderbook-to-fleet ratio has climbed from 10% to 26% in just 15 months, having been as low as approximately 1% in mid-2023, according to broker …

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