Middle East-to-Asia freight rates climbed 1,100% this year, rising from roughly $100,000 per day to $1.2M per day. This surge in shipping costs, described as the largest on record, has shifted investor interest toward tanker stocks, which CNBC identifies as the strongest trade of the year, overtaking artificial intelligence.
Tuesday, October 20, 2026
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Old Supertankers Hit $150M to Outprice New Builds
Commodities20 days ago
Shipping companies are paying premiums for existing vessels to bypass the delivery wait times associated with new shipyards. Supertankers aged 5 to 10 years are now trading at prices above $150M, surpassing the $135M average for a new build, in a pricing inversion that occurs for the first time on record. This shift is driven by immediate demand for tonnage, where delivery speed has become the dominant factor in determining vessel value.
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