Shipowners have placed orders for a record 262 oil supertankers, each able to move 2 million barrels, according to Clarkson Research Services. The backlog eclipses the 2008 peak that later flooded the market and drove freight rates into negative territory. Builders in South Korea, Japan and China are racing to meet demand from exporters seeking new capacity for major oil majors such as ExxonMobil and Chevron.

The surge reflects renewed optimism in the US crude export program, which now requires enough tonnage to ship the full volume of domestically produced oil. Analysts warn that overbuilding could repeat the 2008 glut, but charterers argue that tighter global supplies and higher spot rates justify the extra vessels. Financial sponsors are already committing billions to fund the construction and hedge funds.

With 262 vessels on order, the industry could handle the entire US export pipeline, reshaping global shipping flows and pressuring existing fleets to lower daily hire. Investors in shipyards see a near‑term revenue boost, while lenders monitor credit exposure as the market balances new capacity against demand. The record order book now defines the sector’s short‑term earnings outlook for the next fiscal year.