VLCC (Very Large Crude Carrier)
A VLCC (Very Large Crude Carrier) is a giant crude oil tanker of roughly 200,000 to 320,000 deadweight tonnes, capable of carrying around two million barrels of crude oil. VLCCs are the workhorses of long-haul crude transport, especially on the key Middle East–Asia and Middle East–Europe routes, where their enormous scale drives the lowest possible cost per barrel. Larger still is the ULCC (Ultra Large Crude Carrier), now rare.
Because of their size and draft, VLCCs can only use deepwater terminals and offshore moorings, and cannot transit the Suez Canal fully laden (routing via the Cape or partially loading). Their freight rates are highly volatile and closely watched as an indicator of oil-trade health, quoted on the Worldscale system. VLCCs sit at the top of the crude-tanker size ladder and are central to the global movement of oil.
The VLCC is how most long-haul crude actually moves — two million barrels at a time, at the lowest cost per barrel. Its rates are a closely watched barometer of the oil trade, and its size dictates which terminals and canals it can use. It anchors the crude-tanker market and the seaborne oil economy.
How much oil does a VLCC carry?
Around two million barrels of crude, at roughly 200,000–320,000 deadweight tonnes.
Can a VLCC use the Suez Canal?
Not fully laden — its draft is too great, so it routes via the Cape of Good Hope or transits partially loaded.