In 2025, tanker sale and purchase (S&P) activity has shown robust health, with Clarksons Research logging 409 vessels totaling 44.5 million deadweight tons (dwt) and $13.9 billion in value sold so far—a 27% increase in dwt over the 2024 run rate, though only 3% higher in dollars due to softer secondhand pricing. This signals strong demand for tonnage despite valuation headwinds, underscoring resilience in the tanker sector as global energy trade evolves.
Tanker Volume Thrives Despite Softer Pricing
Clarksons’ five-year-old tanker secondhand price index has averaged 10% lower this year than in 2024, yet activity volumes have surged. Prices have stabilized lately, ticking up 5% since September, with VesselsValue noting December stability across most sectors. VLCCs led gains, as 20-year-old 310,000 dwt vessels rose 7.27% month-on-month to $43.21 million, driven by demand for older, compliant tonnage amid supply constraints.
- Key deals: NYK sold the 19-year-old VLCC Towada for $45.7 million.
- Cido Shipping offloaded the 14-year-old VLCCs Mermaid Hope and Mercury Hope en bloc for $120 million.
These transactions reflect opportunistic trading in a market balancing geopolitical oil flows and eco-regulations tightening older fleet availability.
Bulker and Container Markets Show Mixed Signals
Bulkers lag with just 14 sales in early December, despite firm freight and charter rates. Values held steady, but capesizes for older 20-year-old 180,000 dwt ships climbed 5.42% to $19.06 million. Notable: NGM Shipping flipped the 14-year-old Japanese-built Pacifist cape from $19 million to $32 million, highlighting asset play profits. NYK Bulkship sold the 2012-built 107,000 dwt NBA Rembrandt for $18.7 million to ArcelorMittal Shipping, following a sistership deal.
Containers contrast sharply: stable charter markets up 35% year-over-year, per Alphaliner, despite Drewry’s 45% drop in global 40ft rates. Global Ship Lease bought middle-aged 8,568 teu sisters Cypress, Koi, and Lotus A en bloc for $90 million with CMA CGM charter-back, signaling confidence in steady demand.
Implications for Shipping Outlook
This S&P uptick points to a bifurcated recovery: volume-driven tanker health amid pricing softness suggests buyers prioritize capacity over premiums, fueled by steady crude demand and scrubber compliance deadlines. Bulkers benefit from iron ore and coal flows, while containers ride e-commerce resilience despite spot rate volatility. Broader trends like energy transition and supply chain shifts favor agile owners flipping assets for gains, but risks loom from potential freight softening or regulatory costs. Expect continued firmness into 2026 if trade volumes hold.
