VLCC newbuilding orders are set to “take off” this year in a move that will see the orderbook more than double, according to Poten & Partners.

“For several years now, the VLCC orderbook has been the lowest of all major tanker segments and near historical lows in terms of percentage of the existing fleet,” the US broker said.

The VLCC orderbook at the beginning of the year stood at 23 vessels or 2.6%