Sale and purchase activity in the tanker market has roared ahead this year, with Clarksons Research logging 409 vessels totaling 44.5 million deadweight tons and $13.9 billion in value—up 27% in dwt against 2024's pace, though dollar volume rose just 3% amid softer secondhand pricing. This disconnect signals robust demand for tonnage even as values ease; Clarksons' five-year-old tanker index sits 10% below last year's average, with a modest 5% rebound since September. Stability reigns now, especially for VLCCs, hinting at tighter supply dynamics ahead.
Tankers Lead with Volume Over Value
December has held tanker values steady across sectors, but VLCCs stand out. VesselsValue data shows 20-year-old 310,000 dwt units climbing 7.27% month-on-month, from $40.28 million to $43.21 million—a nod to buyers chasing older ships amid scarce compliant alternatives. Headline deals underscore the action: NYK offloaded the 19-year-old Towada VLCC for $45.7 million, while Cido Shipping moved the 14-year-old sisters Mermaid Hope and Mercury Hope en bloc for $120 million. What's striking here—the sheer tonnage traded dwarfs the cash flow, as buyers prioritize capacity over per-unit premiums in a market where eco-regulations crimp newbuild supply.
Bulkers Steady Amid Strong Freight, Light Activity
Bulk carrier S&P lags by comparison, with only 14 changing hands in early December despite rock-solid freight rates and time charters. Values hold firm; capesizes lead gains, as 20-year-old 180,000 dwt ships rose 5.42% since month-start, hitting $19.06 million from $18.08 million. NGM Shipping flipped the 14-year-old Japanese-built Pacifist cape for $32 million—acquired five years back for about $19 million—cashing in on segment tailwinds. NYK Bulkship, meanwhile, sold the 2012-built 107,000 dwt NBA Rembrandt for $18.7 million, reportedly to ArcelorMittal Shipping; its sister NBA Rubens fetched $15 million in September to Golden Union. Thin volume belies the upside—freight strength keeps owners reluctant to sell, propping values even as deals trickle.
Containers Buck Trend with Cheerful Close
Container S&P mirrors charter firmness, up 35% against 2024's one-year average per Alphaliner, which calls the year-end mood buoyant with demand across sizes and prices holding. Contrast that with Drewry's 45% year-over-year drop in global 40ft rates—spot weakness not yet infecting asset trades. A prime example: the middle-aged 8,568 teu sisters Cypress, Koi, and Lotus A went en bloc to Global Ship Lease for $90 million, complete with a time charter back to CMA CGM. In practice, though, divergent freight and charter paths expose containers' resilience; owners lock in elevated charters, betting on box trade recovery to sustain values into 2026.
