Vantage Corp

For more details, contact our Research Team at Research@vntg-corp.com The Newbuild Trap There's a version of this cycle that owners have lived through before, and it always starts the same way: rates go vertical, yards fill up, and everyone with a checkbook starts ordering ships they won't take delivery of for three or four years. I want to walk through why one should ignore that instinct and look at why the more interesting opportunity is in the adjacent market now, the secondhand market....

Executive Summary Recent geopolitical earnings shock has produced the largest VLCC order book on record and tanker tonnage already exceeds any year since 2006. However the resulting capacity is being built as fleet expansion, not fleet renewal, into a regulatory framework that is not yet finalised, and against an earnings backdrop that may not survive to the point of delivery. We estimate that roughly 400 vessels ordered between January and July 2026 alone will land in a concentrated...

July was another month in which the freight market took its cues from headlines rather than fundamentals. Brent crude traded across an almost $30/bbl range making July the 3rd most volatile month of 2026 so far, behind March and April. TD3C softened 9.3% month on month but that figure masked rates actually climbing steadily through July after the US-Iran MOU fell apart. TD34, meanwhile, came under pressure as STS activity slowed and tonnage remained ample in the Gulf of Oman after tankers...

Our recent acquisition of PJ Marine, and the front row seats we have into petrochemical trends means that we're not just reading about China's petrochemical slowdown in reports, we're seeing it play out in real time and gleaning meaning actionable insights in a timely fashion for our clients. The numbers are stark. China's crude oil imports dropped to 7.12 million bpd in June, the lowest since October 2016, down over 40% from a year ago. Refinery runs fell to 12.47 million bpd, a level we...

Tanker rates east of Suez have risen sharply this year, and the pattern suggests it's tied more to how the market prices geopolitical risk than to an actual shortage of vessels or crude oil supply. The Iran war triggered the first spike, especially after the closure of the Strait of Hormuz on February 28. Freight rates spiked across all tanker segments, with Middle East-to-Asia VLCC rates peaking at $423,736/day, before easing as liftings shifted to Oman and the Red Sea. Then in July, the...

We’re excited to kick off the new year with the launch of our 2026 Oil Market Outlook, Vantage’s annual deep dive into what’s shaping the year ahead for oil and tanker markets. From a look at major economies, changes to demand and supply growth to shifting trade flows and freight trends, this year’s Outlook unpacks how an expected oversupply of crude and evolving geopolitics could set the tone for prices, tonne-miles, and tanker earnings. Here’s a glimpse of what’s inside: - Our take on the...

We are pleased to have been quoted by Lloyd's List in their recent article on China port fees . On 10 Oct 2025, China's Ministry of Transport (MOT) announced new special port charges applicable to US-linked vessels. These charges took effect on 14 Oct 2025, and comprise of yearly increments. Details of such vessels must be reported to China's maritime authorities at least seven days prior arrival, or departure of last port, whichever is later. Special port fees will need to be paid before...

In June, the Office of the US Trade Representative (USTR) moved decisively to address China’s ongoing dominance strategies in the global maritime, logistics, and shipbuilding sectors. Starting October 14, 2025, Chinese-linked vessels calling at US ports will face a new service fee, kicking off at $50 per net ton and set to rise annually to $140 per net ton by April 2028. Additional clarifications and fee adjustments were published in October 2025 to further refine the policy. How will this...

Flush with cash from its IPO on the NYSE American bourse on 12 June, Vantage Shipbrokers is gearing up to take its place in the big...