In early 2025, tanker secondhand sale and purchase (S&P) activity has shown healthy momentum, as Clarksons Research reports 409 vessels totaling 44.5 million dwt sold for $13.9 billion—up 27% in dwt terms against the 2024 run rate, but just 3% higher in dollar value amid softer secondhand pricing. This resilience underscores investor confidence in tanker assets despite price headwinds, signaling stability in global energy shipping amid volatile freight markets.
Robust Volume Amid Price Softness
Clarksons’ five-year-old tanker secondhand price index averaged 10% lower in 2025 than 2024, though levels have climbed 5% since September. Tanker values held steady in December across most sectors, with VLCCs leading gains per VesselsValue data: 20-year-old 310,000 dwt units rose 7.27% month-on-month to $43.21 million, driven by demand for older compliant tonnage amid supply constraints.
- Key driver: Tight availability of eco-compliant vessels boosting older asset appeal.
- Implication: Signals potential fleet renewal delays, sustaining secondary market activity.
Notable Tanker Deals Highlight Market Depth
Headline transactions reflect strong buyer appetite. NYK sold the 19-year-old VLCC Towada for $45.7 million, while Cido Shipping offloaded the 14-year-old sisters Mermaid Hope and Mercury Hope en bloc for $120 million. These deals, at premiums to recent indices, point to selective value hunting in a market favoring mid-life tonnage.
Such activity bolsters liquidity, aiding owners in recycling capital for newbuilds or green retrofits amid tightening environmental regulations.
Broad S&P Trends Across Segments
Bulker S&P slowed with only 14 sales in early December despite firm freight and charter rates. Yet values firmed, especially capesizes: 20-year-old 180,000 dwt units up 5.42% to $19.06 million. Standouts include NGM Shipping’s profitable flip of the 14-year-old Japanese-built Pacifist (bought $19m five years ago, sold $32m) and NYK Bulkship’s NBA Rembrandt to ArcelorMittal Shipping for $18.7 million.
In containers, Alphaliner notes cheerful year-end S&P with stable elevated charters (up 35% vs. 2024 averages), despite 45% lower spot rates. Global Ship Lease’s $90 million en bloc buy of middle-aged 8,568 teu sisters (with CMA CGM charter back) exemplifies lease-back strategies fueling activity.
- Broader insight: Divergent pricing and volumes reflect segmented recovery, with tankers and containers buoyed by long-term contracts versus spot-exposed bulkers.
Implications for Shipping Outlook
Healthy tanker S&P amid softer prices hints at undervalued assets poised for rebound, potentially tied to sustained oil demand and geopolitical supply risks. For the industry, this supports capital flows into sustainable fleets, though slower bulker pace warns of freight dependency. As 2025 closes, firm values across boards suggest cautious optimism for trade-dependent economies reliant on efficient tonnage deployment.
