Freight Pulse & Law Update: VLCC Rates Soar Past $759K/Day as FMC Shift Puts Demurrage Burden on Carriers

As of the 16:00 ET update on September 10, 2026, tanker markets remain under extreme pressure while a new FMC rule changes how qualifying demurrage and detention disputes are proven.

Why did VLCC rates reach $759,969 per day?

The Baltic Exchange’s TD3C Middle East Gulf–China benchmark reached approximately $759,969 per day because Persian Gulf tensions have reduced effective vessel capacity and increased routing risk.

Key market signals include:

• Oman–China VLCC rates near $358,201 per day

• US Gulf–China rates near $210,307 per day

• A record $29.5 million lump-sum US Gulf-to-China charter reported by TradeWinds

• Ship-to-ship transfers, insurance premiums, security risks, and longer waiting times tightening supply

The figure is a time-charter-equivalent benchmark: not guaranteed net profit for every vessel. See Lloyd’s List analysis and TradeWinds coverage.

What changed under the FMC Charge Complaint rule?

Effective September 1, 2026, carriers must establish the reasonableness of demurrage or detention charges in qualifying Charge Complaints.

The rule confirms that complaints may proceed through:

• FMC’s interim procedure

• Formal administrative law judge proceedings

• Small-claims proceedings

Filers should preserve bills of lading, invoices, free-time records, appointment data, and delivery evidence. The Federal Register rule clarifies procedure; it does not create a new substantive reasonableness standard.

What does the Flexport–Peloton decision show?

Documentation must connect each charge to a specific container, day, delay, and responsible party. An FMC judge rejected Peloton’s $33.7 million claim against Flexport after finding its consolidated analysis insufficient. Review the initial decision summary.

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