Sale and purchase activity in the tanker sector has accelerated sharply this year, with Clarksons Research logging 409 vessels totaling 44.5 million deadweight tons and $13.9 billion in value sold so far—a 27% increase in tonnage over the 2024 pace, though dollar volume rose only 3% amid softer secondhand prices. This disparity highlights how buyers snapped up more but cheaper ships, sustaining market momentum despite price pressures. The trend underscores resilient demand for tonnage in a sector sensitive to geopolitical tensions and refining shifts.
Tanker Prices Dip but Recover, Boosting Deal Flow
Clarksons' five-year-old tanker secondhand price index averaged 10% lower in 2025 than in 2024, reflecting broader softening in values, yet prices climbed 5% since September. VesselsValue data for December shows stability across most categories, with VLCCs posting the strongest gains: 20-year-old 310,000 dwt units rose 7.27% month-on-month to $43.21 million, driven by scarcity of compliant vessels amid tightening environmental rules. Such dynamics encourage owners to offload assets before further regulatory squeezes erode values, while buyers bet on prolonged freight strength from disrupted routes like the Red Sea.
Headline Deals Signal Confidence in Aging Fleets
Prominent transactions this month reinforce the pattern. NYK sold the 19-year-old VLCC Towada for $45.7 million, while Cido Shipping offloaded the 14-year-old sister VLCCs Mermaid Hope and Mercury Hope en bloc for $120 million. These sales of middle-aged tonnage point to buyers prioritizing immediate earning potential over newbuild delays, which stretch two to three years amid yard backlogs. Stable values in December further support this shift, as owners lock in gains before potential freight peaks fade.
Bulkers and Containers Show Steady, Selective Activity
Bulk carrier sales lagged in early December, with only 14 vessels traded despite robust freight and charter rates. Capesize values held firm, led by 20-year-old 180,000 dwt ships up 5.42% to $19.06 million since month-start. NGM Shipping flipped the 14-year-old Japanese-built Pacifist for $32 million, more than doubling its $19 million acquisition five years prior, while NYK Bulkship sold the 2012-built 107,000 dwt NBA Rembrandt to ArcelorMittal Shipping for $18.7 million—following its sistership's $15 million disposal in September. In containers, Alphaliner notes a buoyant close to 2025, with stable charter rates 35% above last year's average contrasting a 45% drop in Drewry's global 40ft rates. Global Ship Lease bought the middle-aged 8,568 teu Cypress, Koi, and Lotus A sisters en bloc for $90 million, backed by a CMA CGM time charter, exemplifying how operators secure assets at firm prices amid uneven spot market pressures.
