Venezuela Steps In as the Hormuz Crisis Re-routes VLCC Trade Out of the Gulf
Throughout the first half of 2026, the crisis in the Strait of Hormuz has profoundly altered the global landscape of VLCC crude shipping. Evaluating quarterly liftings by primary loading countries reveals a continuous contraction in overall VLCC volumes, which dropped from 277.8 million tonnes in Q3 2025 to 233.7mt in Q1 2026, and further declined …