In 2025, tanker sale and purchase (S&P) activity has remained robust, with Clarksons Research logging 409 tankers totaling 44.5 million dwt sold for $13.9 billion so far—a 27% increase in deadweight tonnage over the 2024 run rate, though only 3% higher in value due to softer secondhand pricing. This signals sustained investor interest in a market facing supply constraints and steady demand.
Key Drivers in Tanker Transactions
Clarksons’ five-year-old tanker secondhand price index averaged 10% lower this year than 2024, yet values stabilized in December, with VLCCs leading gains. VesselsValue reports 20-year-old 310,000 dwt VLCCs rose 7.27% month-on-month to $43.21 million, driven by tight availability of eco-compliant vessels and persistent crude demand.
- NYK sold the 19-year-old Towada VLCC for $45.7 million.
- Cido Shipping offloaded the 14-year-old Mermaid Hope and Mercury Hope VLCCs en bloc for $120 million.
These deals highlight a preference for middle-aged tonnage, offering value amid newbuild delays and regulatory pressures for lower emissions.
Broad Market Snapshot: Bulkers and Containers
Bulker S&P slowed in early December with just 14 transactions, despite firm freight and charter rates. Values held steady, but capesizes for older vessels climbed, like 20-year-old 180,000 dwt units up 5.42% to $19.06 million.
- NGM Shipping flipped the 14-year-old Japanese-built Pacifist cape from $19 million to $32 million.
- NYK Bulkship sold the 2012-built 107,000 dwt NBA Rembrandt for $18.7 million to ArcelorMittal Shipping.
Containers mirror stability: charter markets up 35% year-on-year, though spot rates fell 45%. Alphaliner notes cheerful S&P mood, exemplified by the en bloc sale of three 8,568 teu vessels to Global Ship Lease for $90 million, with charter-back to CMA CGM.
Implications for Shipping Investment
This healthy tanker S&P pace underscores resilience against price softness, fueled by geopolitical tensions sustaining oil flows and scrapping of non-compliant ships. For bulkers and containers, opportunistic plays yield strong gains, pointing to a bifurcated market where age and compliance dictate premiums. Looking ahead, expect continued activity into 2026 as owners balance renewal needs with elevated asset values, potentially tightening supply further in a decarbonizing industry.
