VLCC Tanker Rates: Freight Measures and Reporting
Editorial snapshots. Observation notes accompany each figure.
Oct 30 settle / Jan, now front month; +2.4% vs $110.80 Oct 29; Dec expired Oct 30 Recorded snapshot.
Oct 25 / JMIC Arabian Gulf via gCaptain; Hormuz SEVERE; 156 incidents since Mar 1 .
Oct 31 / 8/10 held; RITI crew evacuated; India: LNG carrier Al Mayeda attacked in Gulf; Iran says no US meeting planned in Doha .
Compare the route and the rate basis
There is no verified current VLCC day-rate quote on this page. Use this guide to distinguish freight measures before comparing a reported rate with a charter offer.
- Worldscale (WS)
- Worldscale expresses tanker voyage freight as a percentage of a published nominal rate for that voyage. WS100 means 100% of that rate. It is not a dollar-per-day earnings figure; the applicable schedule and voyage matter.
- Time charter equivalent (TCE)
- TCE expresses voyage earnings on a daily basis after voyage costs. Baltic calculations use specified vessels and routes; fuel, port and canal costs and voyage assumptions affect the result. A TCE assessment is not an offer to hire a particular ship.
- Time-charter hire
- Tanker time-charter hire is generally agreed in US dollars per day. Identify whether a quoted daily figure is contractual hire or calculated TCE before comparing it with another report.
What to watch
For the next reported rate, record the observation date, loading and discharge areas, cargo size, vessel assumptions and unit. Compare like-for-like observations; keep war-risk costs separate unless the quoted basis explicitly includes them.
Sources and methodology
Frequently asked questions
Does this page provide a current VLCC day rate?
A verified VLCC day-rate quote is not currently maintained on this page. Read the dated briefs for published freight reporting.
What context is available?
The indicators above are dated editorial snapshots. The briefs and alerts below link to published reporting and its sources.