Significant developments are taking place in the global shipping and oil markets, as US crude oil exports to South Korea reach historic highs. These exports directly affect charter rates for VLCC (Very Large Crude Carriers) tankers.
According to consultancy Kpler, US crude exports to South Korea could reach 20 million barrels in May alone, if all scheduled deliveries go through. In April, US oil arrivals rose by almost 200,000 barrels per day to a total of 540,000 barrels per day, making the US the country’s second-largest supplier. This increased flow is significantly boosting the charter market, with VLCC spot prices showing a notable increase.
Clarksons Securities recorded a VLCC day charter rate of 53,900 dollars, up 26% month-on-month, amid increased demand and higher oil supply from OPEC countries.
Meanwhile, British Braemar estimated one-year time charters for an eco scrubber VLCC at 51,500 per day.
The Greek Angelicoussis Group is also said to have reached a significant deal, chartering the Maran Taurus (built in 2011) to American Chevron for nine to 13 months for 45,500 dollars per day.
Greeks’ leading role
The footprint of Greek shipowners in the global shipbuilding industry remains strong and strategically established, with Greece maintaining one of the largest national order books internationally.
According to recent data from Xclusiv Shipbrokers, Greek shipping interests have 292 tankers under construction, a number that corresponds to approximately 27% of the global total, ranking the country among the top investors in the sector.
The strong presence extends to other ship categories. In the liquefied gas (LPG) sector, Greek orders reach 50 ships – 28% of the global market – while in the liquefied natural gas (LNG) sector, the 47 new units represent approximately 13% of the global order book.
Greek shipowners consistently choose to place their orders in high-standard shipyards in South Korea, China and Japan, ensuring technical superiority and timely deliveries.
