Atlantic dirty tanker freight fell sharply over the first week of November, with benchmark earnings in the Atlantic basin sliding faster than those from the Middle East Gulf, sources indicated on 10 November 2026.
The paper highlighted a widening disparity between Atlantic and Gulf routes, reflected in the TD3C/TD22 earnings ratio, which climbed from 2.73 on 30 October to 3.10 on 6 November. That movement indicated that earnings on US Gulf–China voyages had weakened relative to those from the Middle East Gulf over the same interval.
Movements in headline VLCC trades were pronounced. US Gulf–China very large crude carrier earnings fell 16.2 per cent to approximately $415,000 per day, while Middle East Gulf–China earnings declined by 4.8 per cent to about $1.29 million per day, the report stated.
Benchmarks all in retreat
Sources noted that every one of the 16 dirty tanker benchmarks fell over the week, with the steepest declines recorded in the Atlantic and the Mediterranean. The breadth of the slide across benchmarks underlines that the downwards pressure was not confined to a single trade but affected a range of dirty tanker routes.
Ratio rise and what it signals
A rise in the TD3C/TD22 ratio to 3.10 over the week to 6 November is consistent with relatively greater softening on North Atlantic loadings versus the Middle East Gulf. The ratio movement, together with the specific daily earnings reported, quantifies how Atlantic returns for VLCC voyages to China weakened more rapidly than those originating in the Middle East.
Taken together, the data published on 10 November 2026 points to a week in which Atlantic and Mediterranean benchmarks bore the brunt of market adjustment, while Middle East Gulf routes held comparatively firmer, albeit also in negative territory. The figures supplied give a clear numeric snapshot of earnings at the start of November without attributing causes beyond the recorded changes.
Market participants monitoring dirty tanker earnings will note the scale of the weekly falls and the amplified divergence between Atlantic and Gulf voyages shown by the TD3C/TD22 measure. The week’s movement serves as a reminder that shifts in regional freight levels can be rapid and that headline VLCC earnings remain exposed to short-term swings in demand and tonnage availability.
The report provides the principal figures for the seven-day period ending 6 November 2026, and shows all 16 benchmarks down, with the Atlantic and Mediterranean experiencing the steepest percentage declines and transatlantic VLCC earnings losing ground faster than Gulf-based equivalents.