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Tanker values at 13 year high

Tanker values at 13 year high

Values for five year old VLCCs are currently at the highest levels since 2009. For example, 320,000 DWT, 5YO are currently valued at USD 95.74 mil, up 33.12% from the start of the year from USD 71.92 mil in January. Overall, Tanker sales have risen this year by c.12% with 1,026 transactions reported so far […]

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Older Tankers in High Demand

Older Tankers in High Demand

Demand for tankers aged from 15-years and older have been in high demand in the secondhand market. In its latest weekly report, shipbroker Gibson (https://www.gibsons.co.uk/) said that “this year, 15-year-old crude tanker values have broadly outperformed the rest of the secondhand tanker market in terms of both prices and enquiry. The main reason for this […]

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Tankers at Sea Insight: VLCC segment breaks out of rut as higher employment in summer buoys earnings

Tankers at Sea Insight: VLCC segment breaks out of rut as higher employment in summer buoys earnings

More VLCCs managed to secure employment in August, as higher demand for crude spurred by stronger refinery processing and robust refined products cracks in the Atlantic Basin boosted utilization rates significantly.   Demand for shipping crude oil increased, due to more cargoes traded and longer distances covered. Data by S&P Global Commodities at Sea show […]

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Tanker Values on the Rise

Tanker Values on the Rise

Astronger tanker market over the course of the past few weeks, has helped increase prices for tankers as well. In its latest weekly report, shipbroker Gibson said that “amidst widespread price increases, it is not surprising that tanker asset values have also been rising. Our data shows a strong appreciation in VLCC and Suezmax values, […]

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Tanker Values Post Significant Gains

Tanker Values Post Significant Gains

The tanker market has posted significant gains so far this year, which has also been translated in value increases. In its latest weekly report, shipbroker Allied Shipbroking said that “the rapid recovery noted in the crude oil freight market has sent asset prices soaring over the past 2 months. Since the onset of the conflict […]

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Tanker Prices Reach 10-Year Highs

Tanker Prices Reach 10-Year Highs

Tanker values have surged to decade highs, on the back of strong earnings in the spot market. In its latest weekly report, shipbroker Gibson said that “over the past few years tanker owners have watched containership values surge to unbelievable levels, whilst their own values have struggled against a backdrop of weaker transportation fuel demand […]

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