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Super Tanker Rates Soar Amid Sanctions, Supply Shifts, and Strategic Hoarding

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2 months ago

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Geopolitics, growing oil supply, longer voyages, and disruptions due to sanctions and altered shipping lanes pushed crude oil tanker rates to multi-year highs at the end of 2025.
After a dip in January, rates started climbing again this month in what shipping executives described as a fundamental shift in the market for very large crude carriers (VLCC) capable of carrying around 1.9 million barrels to 2.2 million barrels of crude.
This shift is a major buying spree from South Korea’s Sinokor shipping group and Italian billionaire Gianluigi Aponte, founder of MSC Mediterranean Shipping Company, according to Bloomberg interviews with shipping brokers, vessel owners, and executives.
Shipbroker reports and shipping executives noted in recent reports and earnings call that Sinokor’s move to control more than a hundred VLCCs of the available non-sanctioned fleet is changing the way other owners act and is pushing freight rates higher.
Rates were soaring at the end of last year, even before the market became aware of an unprecedented consolidation shift.
Growing demand for crude oil shipments, particularly from buyers in East Asia, boosted crude tanker rates to multi-year highs at the end of last year, as the number of vessels available for bookings began to shrink due to higher oil shipments demand, the U.S. Energy Information Administration (EIA) said in an analysis in January.
As higher oil production and lower oil prices created additional demand for crude, VLCC rates spiked by 118% year on year in November from the Persian Gulf to the U.S. Gulf Coast. Rates from the Persian Gulf to Asia jumped by 139%, according to Argus data cited by the EIA.
Moreover, supertanker rates on the route between the Middle East and China hit their highest in five years as traders sought alternatives to Russian crude after the U.S. sanctioned Russia’s biggest oil producers and exporters, Rosneft and Lukoil.
Seasonal factors pushed tanker rates lower in January, before the next leg higher, driven by geopolitical concerns over U.S.-Iran tensions.
In addition, the new oil order in Venezuela imposed by the Trump Administration prompted the world’s top traders to charter more legitimate vessels to ship and sell Venezuela’s crude to U.S. refineries on the Gulf Coast or in Europe and Asia.
Adding to all these factors is Sinokor’s massive bet to control an estimated number of 120 VLCCs.
Because of the Sinokor deals to buy and charter vessels, the supertanker rates have now jumped fourfold over the past month, market sources told Bloomberg.
This fleet consolidation was confirmed in the latest weekly report by shipbroker Fearnleys, which said that the week to February 11 saw “healthy daily earnings upwards of USD 120k/day and above.”
Geopolitical tension was one reason for the high rates. The other was “Sinokor’s continued appetite for tonnage, and by and large, pricing the spot market higher than the prevailing rate level has underpinned the strong sentiment and left charterers with slim pickings for alternatives.”
Kpler, for its part, noted earlier this month that the VLCC market has seen increased volatility in rates.
“The combination of vessels migrating into the shadow fleet last year, more vessels fixed on time charters and a smaller group of owners acquiring larger fleets is creating greater rate volatility,” Kpler’s Matt Wright said in a Q1 2026 tanker market outlook.
One-year charters have jumped by 20% over two months, Ole Hjertaker, chief executive officer of SFL Corporation, said on the shipping company’s earnings call last week.
“I think one very important underlying factor here on the tanker side, which I would call almost unprecedented in the market, at least in the history I have seen, is that you have one party or group of people who are working together who effectively control around a third of the available or traded tanker VLCC fleet out there,” Hjertaker said, without mentioning names.
“We believe they are willing to hold back ships if they do not get the charter rate where they want it to be, which implicitly would give also the other owners out there confidence to hold back and not just drop their rates,” the executive added.
Svein Moxnes Harfjeld, CEO of another crude tanker firm, DHT, said the company believes the supply squeeze in the supertanker is real, also because of the major fleet consolidation.
“As you may have read in the news, a fundamental shift in the fleet ownership is taking place, with fleet consolidation by private actors gaining meaningful traction,” Harfjeld said on DHT’s earnings call in early February, without naming any names.
“We estimate that the aggregators to have gained control of some 120 ships, and we expect their efforts to continue, and in not too long, to control at least 25% of the compliant tramping VLCC fleet, a critical market share,” the executive added.
“This consolidation is shifting the pricing dynamics and is putting pressure on timely availability of ships,” Harfjeld noted.
Looking forward, the tanker market now accounts for another major development on top of the various geopolitical and fundamental factors at play.
By Tsvetana Paraskova for Oilprice.com
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Business

Wealth Creation: GCPBS  Convenes Strategic Investment Workshop In PH

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2 weeks ago

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April 20, 2026

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In a significant move aimed at strengthening financial literacy and promoting sustainable economic growth, the Alumni Association of the Garden City Premier Business School (GCPBS) has hosted its inaugural Annual Executive Workshop in Port Harcourt, drawing key stakeholders from across Nigeria’s financial and public sectors.
The workshop, themed “Wealth Creation through Investment in Money and Capital Markets,” held at the Corporate Residence, William Jumbo, Port Harcourt recently,  brought together financial experts, policymakers, and professionals to deliberate on practical investment strategies in a rapidly evolving economic environment.
The event attracted a distinguished audience, including alumni of the institution, officials of the Securities and Exchange Commission, financial market leaders, top government functionaries, and seasoned professionals committed to advancing wealth creation initiatives in the country.
In her opening address, Chairman of the GCPBS Alumni Association, Her Excellency Dr. Mrs. Mina Tele Ikuru, charged the participants to take full advantage of the knowledge-sharing platform, stressing the importance of continuous learning and informed financial decision-making.
Also speaking, the Rivers State Head of Service, Dr. Mrs. Inyingi Brown, underscored the need for smart investment practices, noting that true wealth lies not merely in hard work but in the ability to make money work efficiently through strategic investments.
Deliberations at the workshop exposed participants to practical insights into navigating the financial markets, with experts emphasising the need for liquidity-conscious investments and encouraging the exploration of commercial papers issued by reputable corporations.
Speakers further highlighted the benefits of leveraging money market instruments such as bank deposits, while also stressing the importance of understanding market timing—knowing when to buy, hold, or exit investments—as a critical factor in achieving optimal returns.
The concept of compounding was extensively discussed as a powerful tool for long-term wealth accumulation, alongside the introduction of SWOOT—Stocks Worth Over One Trillion—with leading financial institutions identified as dominant players in Nigeria’s stock market.
Participants were also cautioned against common investment pitfalls, including the dangers of holding excessive idle cash, exposure to inflationary pressures, and the growing threat of fraudulent Ponzi schemes often disguised with unrealistic promises of high returns.
They also stressed the importance of diversification as a risk management strategy, with experts warning that failure to spread investments across asset classes could expose individuals to avoidable financial losses.
A panel session anchored by Prof. John Ohaka featured robust contributions from Barr. Bernard Ibe and Figbene Briggs, who examined critical approaches to monitoring investments and ensuring long-term financial stability.
A Financial expert, Uche Uwaleke (FCMA) provided further guidance, advocating the adoption of the DHL investment model—Diversify, Hedge, and Long-term planning—while emphasising the need for constant monitoring of market capitalisation and price indices.
The event also featured goodwill messages and the presentation of awards to deserving individuals and organisations, including Oida Energy Limited, Xenergi Limited, Aslan Resources Ltd, and Dr. Mrs. Mina Tele Ikuru, in recognition of their contributions to economic development and professional excellence, while special honours were conferred on Prof. Silver Opuala-Charles and Dr. Mrs. Inyingi Brown.
In a closing remark, Prof. Adline Ben-Chioma who summarised the key takeaways from the workshop, reiterated the importance of informed investment decisions, as ESV Okputu delivered the vote of thanks, appreciating organisers, speakers, sponsors, and participants for their roles in the success of the inaugural initiative.
By: King Onunwor
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Banking/ Finance

Ripple Survey Reveals Appetite for Digital Assets

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3 weeks ago

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April 15, 2026

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Cornerstone of Financial Services

A survey of more than 1 000 global finance leaders undertaken by digital payment network Ripple shows that 72% of respondents believe they need to offer a digital asset solution to remain competitive.

According to Ripple, leaders from the banking, fintech, corporate and asset management sector have made it clear that the “digital asset revolution is happening now”.

“Digital assets are quickly becoming a cornerstone of financial services, underpinned by progressive regulation, growing interest from Tier-1 banks, a steady consumer shift from banks to fintech providers, and booming stablecoin adoption,” Ripple says.

The survey was conducted in early 2026 and the findings released in March.

Stablecoin Boon or Bane?

Ripple has experienced significant success in the stablecoin sector since launching its Ripple USD (RLUSD) stablecoin in 2024.

With a market cap of $1.56 billion, it is considered a major regulated player in the market.

No doubt the platform was pleased to learn through its own survey that financial leaders were most bullish about stablecoins.

Roughly three-quarters of respondents believed they could boost cash-flow efficiency and unlock trapped working capital.

Ripple noted that finance leaders were thinking about stablecoins as more than “just a new way to execute payments”; instead, they viewed them as effective tools for treasury management.

In March 2026, Ripple began testing a new trade finance model built around RLUSD in a bid to increase the speed of cross-border payments.

The pilot initiative, developed alongside supply chain finance company Unloq [https://unloq.com], is running on the XRP Ledger inside a testing framework developed by the Monetary Authority of Singapore.

The Asian city-state is one of the platform’s biggest growth markets.

The idea behind the project is to see whether stablecoin-based settlement can streamline trade finance, too often hampered by reliance on intermediaries and slow reconciliation.

The only potential drawback is that if the initiative takes off, the Ripple to USD price could be negatively affected.

Ripple has always championed its native XRP token as a bridge asset, the “middleman” in the process of a financial institution turning dollars in the US into pounds in the UK, for example.

Ripple converts dollars into XRP and then back into pounds.

If RLUSD can do exactly the same thing, questions will be asked about XRP’s relevance.

That is a bridge Ripple will have to cross if it gets to that point.

Tokenisation Partners

Another interesting finding from Ripple’s survey is that most banks and asset managers are seeking tokenisation partners to help execute their strategies.

Some 89% of respondents said digital asset storage and custody were top priority. “Token servicing/lifecycle management also ranks highly for banks at 82%, while asset managers place greater emphasis on primary distribution at 80%,” Ripple found.

The survey also revealed that just more than half of fintechs and financial institutions want an infrastructure provider that can offer a “one-stop-shop solution”. This rose to 71% among corporate financial leaders.

Ripple attributes this to institutions and firms wanting uncomplicated, cohesive systems.

Infrastructure Rules

In its final analysis, Ripple says companies across the board are looking for partners and solutions that are “secure, compliant, battle-tested and that enable growth and execution”.

“The message is clear: infrastructure decisions made today will shape competitive positioning tomorrow.”

No surprise that this is precisely where Ripple is placing much of its focus.

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Business

Niger Delta Investment Summit Targets $5bn Inflows, 500,000 Jobs

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3 weeks ago

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April 10, 2026

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The Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has unveiled the plans to host a major economic and investment summit aimed at attracting five billion dollars, ( N7 trillion) investments in addition to creating about 500,000 jobs over the next five years.
The Chairman of NDCCITMA Board, Ambassador Idaere Ogan, disclosed this in Port Harcourt, recently.
Ogan stated  that the initiative is designed to reposition the Niger Delta as a viable destination for sustainable economic growth and development.
He explained the summit would bring together investors, policymakers, manufacturers and business leaders from within and outside Nigeria to explore opportunities across key sectors of the regional economy.
According to him, the event is expected to attract high-profile participation, with President Bola Tinubu billed as Special Guest of Honour, while the Prime Minister of Barbados, Mia Amor Mottley, is expected to deliver the keynote address.
Ogan said the summit would focus on critical sectors including agriculture, manufacturing, logistics and the blue economy, which he described as areas with significant untapped potential.
He called on state governments, development partners and private sector stakeholders to support the initiative, stressing that collective efforts are required to unlock the region’s economic prospects.
 NDCCITMA chairman further stated that improving security conditions and increasing economic confidence in the Niger Delta have made the region more attractive to both local and foreign investors.
He emphasised that ongoing economic reforms at the national level have also contributed to creating a more favourable investment climate.
Also speaking, the Chairman of the Summit Organising Committee, Dr. Solomon Edebiri, said the event would prioritise the growth of small and medium-scale enterprises (SMEs) across the region.
He noted the summit would provide a strategic platform for networking, business partnership and policy dialogue aimed at strengthening the private sector.
Edebiri disclosed that findings from a recent business roundtable revealed significant untapped investment opportunities, which the summit seeks to harness through targeted collaborations.
He revealed that the event would feature exhibitions of viable projects, facilitate business-to-business and business-to-government engagements, and also promote innovations across multiple sectors.
According to him, the expected outcomes of the summit include job creation, increased industrial activity and improved livelihoods for people in the Niger Delta.
To build momentum ahead of the event, NDCCITMA said the body would embark on awareness roadshows across states in the Niger Delta, as well as in Lagos and Abuja, to attract broad participation.
King Onunwor
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