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Tanker market outlook Q4 2026: Record freight, tightening supply and the road to 2027
Synopsis
With Hormuz flows normalising without a deal, freight at record highs and clean tonnage tightening, the tanker market is being driven by risk premiums and fundamentals at once. Join us for our Q4 2026 tanker market outlook, where we break down what's behind the rally, how long it can last, and what it means for clean and dirty demand through 2027.
What you'll learn
- Middle East and Gulf of Oman: With Saudi exports rerouted into the Gulf and Hormuz flows normalising without a deal, we explain how cargoes are moving.
- Beyond the Middle East: The rally is spilling into Suezmaxes and Aframaxes as Europe scrambles for Atlantic and West African barrels, and we look at how long that support can last.
- Clean tanker demand: Record dirty earnings have kept LR2s and a record number of MRs out of clean trades just as Middle East and Asian exports recover, pushing LR2 rates to an all-time high.
- Long-term view: We lay out the clean and dirty outlook through 2027, from a clean ton-mile recovery to the shift in dirty demand now that a Hormuz deal is no longer our base case.
Meet the speakers
Matt Wright
Matthew Wright is the Lead Freight Analyst at Kpler. In his role, he leads on providing clients with expertise, analysis and research on the freight markets. Prior to Kpler, Matthew was a Senior Tanker Analyst at SSY ship brokers, where he was responsible for analysing oil tanker markets, leading the development of new models and handling consulting inquiries. Matthew has extensive oil market experience from seven years in consulting at Argus Media where he worked on a range of single client projects before moving on to manage the delivery the subscription reports focusing on freight, crude and refined products.
Join the webinar
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