International Maritime & Trade Finance Policy Council

**VLCC Chartering News – December 22, 2025** VLCC spot rates have climbed to WS 70-80 on the Middle East Gulf to China route, up 20% in the past week, fueled by robust Chinese winter crude stockpiling and seasonal demand. Key Factors: - Suez Canal transits returning to normal, increasing vessel availability. - Sanctions on shadow fleets (e.g., Venezuela) continue to reduce effective tonnage supply. - Average TCE earnings now exceed $60,000/day, with some fixtures reaching $70