Early 2025 has seen vibrant tanker sale and purchase (S&P) activity, as Clarksons Research reports 409 vessels totaling 44.5 million dwt sold for $13.9 billion. This reflects a 27% deadweight tonnage increase over the 2024 run rate, though dollar value climbed just 3% amid declining secondhand prices. The disparity underscores robust physical demand for tankers even as values soften, signaling investor confidence in a sector navigating geopolitical tensions and energy transitions.
Tanker Dynamics: Volume Up, Prices Mixed
Clarksons’ five-year-old tanker secondhand price index averaged 10% lower this year than 2024, yet rose 5% since September, hinting at budding recovery. December values stabilized across sectors, with VLCCs leading gains—VesselsValue data shows 20-year-old 310,000 dwt units jumping 7.27% month-on-month to $43.21 million. This reflects tight supply of compliant older tonnage amid scrubber and emissions rules, driving buyers toward proven assets.
- NYK’s sale of the 19-year-old Towada VLCC for $45.7 million.
- Cido Shipping’s en bloc deal for the 14-year-old Mermaid Hope and Mercury Hope VLCCs at $120 million total.
Bulker and Container S&P in Context
Bulker activity cooled, with only 14 sales in early December despite firm freight and charter rates. Values held steady, capesizes shining as 20-year-old 180,000 dwt ships rose 5.42% to $19.06 million. Opportunistic plays abound, like NGM Shipping’s flip of the 14-year-old Japanese-built Pacifist cape from $19 million to $32 million. Containers mirror stability, with Alphaliner noting cheerful S&P amid 35% higher charter rates year-over-year, despite 45% lower spot container rates per Drewry. Global Ship Lease snapped up three 8,568 teu middle-aged sisters for $90 million, backhauling on CMA CGM charter.
- NYK Bulkship’s sale of 2012-built 107,000 dwt NBA Rembrandt for $18.7 million to ArcelorMittal Shipping.
Implications for Shipping Markets Ahead
Healthy tanker S&P amid softer prices points to strategic accumulation for eco-upgrades or fleet renewal, bolstered by steady VLCC demand from prolonged red-sea disruptions. Broader stability in bulkers and boxes suggests shipping’s resilience against volatility, with older tonnage premiums highlighting compliance bottlenecks. As 2025 closes strong, expect sustained activity if freight holds, potentially lifting values further and aiding decarbonization investments in a trade-dependent global economy.
