Analysts at the Norwegian classification society DNV “see” large investments in new orders for tankers in the coming years.
In an industry where Greek shipowners dominate the global market, owning a fleet worth approximately 78 billion dollars, representing 25% of the fleet, DNV estimates that a new wave of orders is expected in the coming years as a result of the aging global fleet and the need for more energy-efficient ships.
At the same time, it emphasizes that recently, changing trade flows, geopolitical turmoil and longer travel distances have led to a sustainable increase in tonnage in the tanker market, causing freight rates to rise.
The tanker market enters 2026 on strong footing, fueled by the convergence of geopolitical shifts, resilient oil demand and tight ship supply.
Freight rates have soared by more than 60% above the decade average by the end of 2025, with daily VLCC revenues exceeding 100,000 dollars, underscoring the strong bullish sentiment across the industry.
“Longer voyage distances, resulting from sanctions and trade disruptions, have constrained available supply and boosted tonne-mile demand, pushing freight rates well beyond historical levels,” said Catrine Vestereng, SVP and Global Business Director for Tankers at DNV.
“With oil demand remaining resilient, these factors combine to create a market with a positive but complex outlook, setting the stage for a critical year for the tanker sector.”
This strong picture is underpinned by profound changes in global trade flows. Geopolitical uncertainty remains a defining feature of the tanker market in 2026.
Sanctions on Russian crude and refined products have redirected flows away from traditional short-haul routes, creating longer voyages and limiting the supply of oil and ships.
“The geopolitical environment has created an extremely complex landscape for tankers,” noted Vestereng.
Source: Naftemporiki