Vantage flags weaker 2H 2026 outlook for Asian petrochemicals freight rates

Vantage Corp. flagged a weaker 2H 2026 outlook for Asian petrochemicals freight, citing softening Chinese demand and rising chemical tanker supply.

• China crude imports fell to 7,120,000 bpd in June, the lowest since October 2016; down more than 40% year on year.
• Refinery runs dropped to 12,470,000 bpd; July manufacturing PMI slid to 49.2 from 50.3, returning to contraction.
• Freight rates on north-south Asian chemical routes have retreated since June, reversing gains tied to earlier Hormuz disruption.
• A large 2026 newbuild delivery wave, limited scrapping, and Chinese plants restarting in June-July point to looser vessel utilization into year-end.