Big energy players are taking control of the VLCC sector, putting significant pressure on independent shipowners and changing the way the market operates, according to those working in the large tanker market.

At the same time, the VLCC trades are changing with what were previously considered backhaul cargoes from the US now becoming the key trade route.

Energy major Shell’s surprise deal with Saudi Arabian giant Bahri Oil, which emerged last week, highlights the new direction for the large tanker trades, VLCC brokers say.