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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 […]

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 […]

Tanker Spot Market Moving Away from Near Term Negative Fundamentals

Tanker Spot Market Moving Away from Near Term Negative Fundamentals

With demand for crude oil moving downwards, global economic growth already in retreat and OPEC+ about to significantly cut production, one would expect that tanker rates would be heading lower. However, at the moment no such thing is happening. In its latest weekly report, shipbroker Gibson said that “the recent OPEC+ decision to cut production […]

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, […]

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 […]

Ship Owners Are Loading Up on Tankers and Gas Carriers

Ship Owners Are Loading Up on Tankers and Gas Carriers

Shipowners’ buying interest towards the tanker and LNG sector has increased considerably, over the course of the past few weeks. In its latest weekly report, shipbroker Allied Shipbroking said that “given the robust flow of fresh projects coming through as of late, we can argue that newbuilding market remained on a sustainable orbit for yet […]

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