Mumbai, Jan. 28 -- A latest update from the US Energy Information Administration or EIA has stated that shipping rates for crude oil tankers were at multi-year highs at the end of 2025 before falling in early 2026. Rates climbed in the fall of 2025 because of increased demand for crude oil shipments, particularly from buyers in East Asia, limiting the number of vessels available for bookings. EIA analyzed several key global tanker routes for Very Large Crude Carriers (VLCCs) and Suezmax tankers, including the Persian Gulf-to-Asia route and the US Gulf Coast-to-Europe route.
In November 2025, VLCC rates for vessels leaving the Persian Gulf were the highest since summer 2020, while Suezmax rates were the highest since November 2022 for vesse...