The very large crude carrier (VLCC) tanker market has softened this week and could weaken further, according to the latest weekly tanker report from Affinity Research LLP, published via Hellenic Shipping News on 29 August 2026.

Affinity Research noted that an outside Arabian Gulf (AG) East voyage recently went on subjects at around reduced levels, an indication of the softer tone in the segment.

VLCCs are the largest class of oil tankers in commercial operation, typically carrying around two million barrels of crude oil per voyage. The AG East route, linking the Arabian Gulf to destinations in East Asia, is among the most heavily traded crude shipping routes in the world, and fixture levels reported on this route are closely watched as an indicator of broader tanker market conditions. Freight rates on this route directly affect shipowner earnings and the cost of moving crude to major importers in China, India, Japan, and South Korea, so weekly fixture reports such as Affinity's are widely followed by shipping market participants.

Short-term rate movements in the VLCC segment typically reflect the balance between available cargoes from Gulf exporters and the supply of tonnage in the loading region, with OPEC+ production levels and Asian refinery demand among the factors that shape cargo volumes. Following the coming weeks' fixtures and any updated guidance in Affinity's subsequent weekly reports will indicate whether the current softness persists or reverses.

The full weekly report, "Affinity Tanker Weekly, 28 August 2026," is available as a PDF: Affinity-Tanker-Weekly-28.08.2026-HSN.pdf

Source: Affinity Research LLP, republished in Hellenic Shipping News' Weekly Shipbrokers Reports.