In October 2023, demand for tankers has significantly increased. Total investment across all sectors reached approximately $4.7 billion, down from $6.6 billion in September. Of this amount, tankers accounted for $2.9 billion, compared to $1.1 billion for bulk carriers and $0.7 billion for other vessels, representing a 62% share of total investment.
Increase in Ship Sales
During October, total ship sales reached 1,481 units, showing a 17% increase compared to last year. While bulk carriers with 644 sales outnumbered tankers with 572 sales, tanker purchases increased significantly by 68% compared to 7% for bulk carriers. Tankers accounted for a total of $20.8 billion of the $32.1 billion investment reported in these two sectors, compared to $11.3 billion for bulk carriers, indicating a greater concentration of investment in tankers.
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Different Purchasing Patterns of Greek and Chinese Buyers
Greek and Chinese buyers followed different purchasing patterns in October. Greek buyers purchased 16 vessels this month, evenly split between the two sectors. In contrast, Chinese buyers acquired 12 vessels, including 9 bulk carriers and 3 tankers. From January to October, Greek investment in tankers reached $4.5 billion, clearly exceeding $2.1 billion in bulk carriers. Conversely, Chinese investment has been more focused on bulk carriers, reaching $2.5 billion compared to $0.6 billion in tankers.
The overall picture indicates continued investment with strong growth in tanker purchases. While bulk carriers remain active, the decrease in turnover in October suggests a less uniform market. Whether this focus on tankers will continue depends on secondary expectations and operational conditions, as overall expenditure alone cannot determine the rising values for similar vessels.
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