Bold claim: the fuel mix of the global fleet is changing, and pooling VLCC capacity may be the linchpin for navigating energy-transition pressures. As 2024 unfolds with geopolitical tensions and tighter environmental rules, agility becomes the defining trait for success. The very large crude carrier (VLCC) segment faces significant headwinds, pushing many owners toward tanker pools to boost resilience.
Tankers International, headquartered in the UK, runs the industry’s largest VLCC pool, currently aggregating 40 vessels, with 29 of them fitted with scrubbers. CEO Charlie Grey outlined the organization’s sustainability path, which includes actively testing biofuels and preparing for the EU Emissions Trading System (ETS) that began in 2024.
Pooling enables members to meet Carbon Intensity Indicator (CII) requirements while maximizing commercial performance. By routing high‑value voyages across a shared fleet, Tankers International can balance profitability with environmental impact, helping pool participants manage regulatory compliance more effectively.
Grey stressed that the pooling structure supports steadier cash flow and makes it easier to invest in emissions-reduction technologies. With a large portion of VLCCs aging beyond 15 years, there are lingering worries about future tonnage deficits, especially as global oil demand climbs even though new-building orders remain subdued. A recent uptick in VLCC orders signals room for growth and underscores the strategic role of pooling in a shifting market.
Geopolitics also shapes the VLCC landscape. Developments such as Russian oil displacement and OPEC+ policy moves are reshaping trade routes. Even with softer rates, global oil demand continues to rise, notably in China as its economy pivots toward petrochemicals.
The push toward digitalization and decarbonization presents both challenges and opportunities. Grey noted Tankers International’s focus on data analytics to optimize vessel performance and ensure adherence to CII and the Energy Efficiency Existing Ship Index (EEXI). Their in-house fixture app delivers actionable insights on efficiency and emissions, empowering partners to make decisions aligned with environmental targets.
In short, VLCC operators are contending with immediate geopolitical and regulatory hurdles, but the pooling model offers flexibility that supports compliance and sustainable practices. Tankers International remains proactive, evolving practices and technologies to meet the industry’s future demands.
