Gulf VLCC Rates Top $1.3M a Day as Tanker Attacks Spread
Qatar – October 27, 2026 -- The benchmark VLCC rate from Saudi Arabia to China has passed $1.3 million per day, pushing freight above 25-30% of the cost of Gulf crude versus 1-3% in normal market conditions, according to Windward. The surge follows a tanker strike off Qatar on October 7.
Tanker struck 51 nautical miles off Qatar breaks the Hormuz-only attack pattern
An unnamed tanker was hit by multiple projectiles 51 nautical miles off Madinat ash Shamal, UK Maritime Trade Operations (UKMTO) reported on October 7. It is the first attack outside the Strait of Hormuz since September 9, when a Greek-owned very large crude carrier was struck in Iraqi waters.
UKMTO has logged 16 attacks on ships in the Middle East Gulf in 10 days. Windward confirmed 12 of the vessels, 11 of them tankers. All were transiting dark through the U.S. military-assisted southern corridor.