Supertankers are fixing above $1M a day, a VLCC hit $1.16M, and the Baltic Dirty Tanker Index is 6x higher YoY. The catch: consensus has tanker earnings peaking this quarter. Record cash flow now, a s

What happened: Shipping rates hit record highs on geopolitical disruptions and strong demand. A supertanker loading crude in the Gulf of Oman was fixed at $1.01 million a day for a voyage to Asia, with another deal reportedly agreed at $1.16 million. Key numbers: VLCC Why it matters: Carriers and tanker owners are seeing extraordinary cash flows, and companies like Hapag-Lloyd and Teekay Tankers raised earnings outlooks. Massive new vessel orders signal future overcapacity, with consensus earnings for tanker owners expected to peak this quarter and decline as supply growth accelerates. Coverage: 3 outlets in 24h

Shipping rates hit record highs on geopolitical disruptions and strong demand. A supertanker loading crude in the Gulf of Oman was fixed at $1.01 million a day for a voyage to Asia, with another deal reportedly agreed at $1.16 million.

Carriers and tanker owners are seeing extraordinary cash flows, and companies like Hapag-Lloyd and Teekay Tankers raised earnings outlooks. Massive new vessel orders signal future overcapacity, with consensus earnings for tanker owners expected to peak this quarter and decline as supply growth accelerates.