The tanker sales market has faced significant developments in the past two months. According to available data, during this period, 22 Very Large Crude Carriers (VLCCs) and 28 Suezmax tankers have been traded, which together account for 34 percent of total transactions. In contrast, only 13 and 16 tankers from these two categories have been offered in the market, respectively.
Focus on Larger Tankers
In this context, MR2 tankers have also shown a concentration of buying activity in larger tankers, with 42 transactions against 125 units offered. This trend appears to stem from positive expectations regarding revenue generation and investor confidence in crude oil transportation.
Analysis of Age and Type of Shipbuilding
An analysis of the age of ships in the sales market shows that ships aged 16 to 20 years hold the largest share, comprising 175 out of 370 units available in the market. Additionally, 100 ships aged 21 years and older account for 27 percent of the inventory. Together, these two groups represent 74 percent of the advertised ships, while only 55 percent of completed transactions belong to them.
In terms of construction type, tankers built in South Korea, with 146 units offered and 68 transactions, account for approximately 39 and 47 percent of the market. Furthermore, 121 South Korean tankers are over 15 years old, indicating owners' inclination to sell older assets.
In contrast, the situation for tankers built in China is different. Of the 118 Chinese ships available in the market, 42 are younger than 10 years, and 24 out of 48 recorded transactions pertain to this group. Conversely, Japanese tankers are significantly older, with 51 out of 56 ships available in the market being over 15 years old.
These figures indicate a selectively advancing tanker sales market with significant distinctions in the age and type of shipbuilding. In the coming months, this balance between ship inventory and buyer preferences could impact second-hand values.
