The Maritime
Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%Dry Bulk Freight Index3,056▲ +4.4%Capesize5,033▲ +6.3%Dirty Tanker Index2,801▼ -0.1%Panamax2,246▲ +3.7%Supramax1,643▲ +0.1%Clean Tanker Index1,353▲ +0.0%Handysize880▲ +0.3%
Freight & charter · Tanker

VLCC

Long-haul crude on the two-million-barrel class

All freight indices

Median realised TCE

$123k$/day

30 Jun 2026

What this benchmark measures — Time-charter benchmark for Very Large Crude Carriers (~200,000 dwt and up) — the two-million-barrel ships that move Middle-East and West-African crude to Asia, priced from the reported fixtures our own pipeline collects.

Quarter over quarter

+28.7%

Year to date

+28.7%

Year over year

+185.8%

5-year

+721.3%

Realised TCE · reconstructed monthly

VLCC — realised time-charter earnings

Q1 2008 – Q2 2026

Real quarterly $/day from listed shipowners’ own earnings filings (the marked anchors), with a monthly path reconstructed between them from licence-clean freight, activity and commodity indicators. The reconstruction averages back to each real quarter exactly; the shaded band is its interpolation uncertainty. A model estimate, not a market index — independent of any licensed benchmark.

Anchors: realised TCE disclosed in public shipowners’ SEC filings (facts, cross-owner median per quarter). Monthly path: Chow-Lin reconstruction from licence-clean indicators — a model estimate, not a licensed index.

Reported fixtures

Latest VLCC fixtures

View all
  • 270,000 mtWS 57024 Aug
  • Mongolia Prosperity$31 million· shipping arm of a Chinese refiner18 Aug
  • WS 297.529 Jul
  • Briolette$37,700/day· Saudi Aramco10 Jul
  • Delos· Mercuria25 Jun
  • Nissos Kea· Vitol25 Jun
  • DHT Redwood$105,000/day· Global energy company (unnamed)24 Feb
  • DHT Taiga$94,000/day· A global energy company (unnamed)19 Feb
  • DHT Opal$90,000/day· Global energy company (unnamed)18 Feb
  • MT AphroditeWS 44· Unipec6 Jun

How this benchmark is computed

The median reported time-charter rate ($/day) across the charter fixtures our own pipeline collects for the VLCC class, using only those reported in the last 90 days so the figure reflects the current market. Snapshotted each ingest cycle; a segment with fewer than two recent fixtures is withheld rather than published on a thin sample. Data we collect ourselves — no third-party licence — so we publish it in full alongside the reported fixtures behind it.