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The report also adds that China\u2019s appetite for older VLCCs reflects a combination of structural and geopolitical forces. Western sanctions on Russian crude have fractured the market into parallel systems, with a so-called \u201cdark fleet\u201d of older tankers now operating outside mainstream compliance regimes. These vessels, averaging 18.1 years in age versus 10.4 years for the legitimate fleet, have found new purpose in sanctioned trades where availability outweighs reputation and insurance. In this parallel system, older VLCCs can command meaningful premiums over younger compliant units, as the pool of vessels able to assume regulatory risk remains limited.<\/p>\n
The report also states that what might appear irrational in conventional shipping cycles is, in fact, a calculated strategy within a reshaped market. Sanctions, capital advantages, and shifting trade flows have combined to tilt the economics in favor of vintage vessels, particularly for Chinese buyers.<\/p>\n
\u201cChina\u2019s buying strategy makes sense once you understand the forces reshaping tanker markets,<\/em>\u201d said Matt Freeman<\/strong>, Senior Vice President of Values and Analytics at Veson Nautical. \u201cSanctions have created a parallel trading system where older VLCCs can command earnings that exceed younger vessels, and financing advantages allow Chinese owners to move quickly and capitalize on these types of opportunities. Added to this, the surge in Russian crude flowing into Asia has created a steady stream of demand that makes these vintage assets more valuable than ever.<\/em>\u201d<\/p>\n The report also highlights how strategies vary widely across Asia. While Chinese buyers dominate overall volumes and concentrate heavily on vintage VLCCs, South Korean owners have focused on countercyclical acquisitions of mid-life vessels, and Japanese buyers have largely avoided older VLCCs in favor of younger MR2s which are widely considered more versatile assets. These contrasting approaches reflect differing financing structures, regulatory constraints, and long-term strategic priorities.<\/p>\n \u201cThese trends underscore how Asian ownership is reshaping the rules of shipping investment,<\/em>\u201d said Felix Tordoff, Junior Valuation Analyst at Veson Nautical<\/strong>. \u201cChina has concentrated on vintage VLCCs, often targeting sanction-exposed trades where premiums are unavailable to modern tonnage, while South Korean owners have taken a more countercyclical but quality-driven approach to mid-life vessels. Japanese buyers, by contrast, have largely avoided older VLCCs, focusing instead on younger MR2s that align with stricter financing and regulatory requirements. Together, these strategies demonstrate how structural forces are redefining the market far beyond short-term cycles.<\/em>\u201d<\/p>\n To access the full Market Insight please click here. With a heritage of innovation and expertise across all maritime related contracts, Veson serves more than 38,000 users across 2,400 companies in more than 100 countries and is uniquely positioned to enable a decision advantage. Learn more at www.veson.com.<\/p>\n","protected":false},"excerpt":{"rendered":" Increased S&P activity in Asia’s largest economy is reshaping the VLCC market, turning ageing tankers […]<\/p>\n","protected":false},"author":23,"featured_media":262531,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[273,298],"tags":[307],"class_list":["post-263520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritimes-news","category-seagoing-maritimes-news","tag-featured-en"],"yoast_head":"\n![\"\"](\"https:\/\/maritimes.gr\/wp-content\/uploads\/2025\/09\/veson_09092025-2.png\")
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\nAbout Veson Nautical
\nVeson Nautical empowers the global maritime industry to navigate compounding complexity on all sides of the trade. Multi-jurisdictional regulations, geopolitical disruptions, decarbonization, cybersecurity threats, and more are forcing industry participants to recalibrate their risk tolerance. By combining trusted maritime data with built-for-purpose workflows, Veson gives clients the decision-making confidence to manage risk and maximize profit.<\/p>\n