The tanker sale and purchase (S&P) market has maintained healthy momentum into 2025, with Clarksons Research reporting 409 vessels totaling 44.5 million dwt sold for $13.9 billion so far. This marks a 27% rise in deadweight tonnage versus the 2024 run rate, though dollar volume grew only 3% amid softer secondhand pricing. Such activity underscores resilient demand in energy shipping, even as values adjust to geopolitical and regulatory pressures.
Tanker Sector Drives Volume Growth
Clarksons’ five-year-old tanker secondhand price index averaged 10% lower in 2025 than 2024, yet levels have climbed 5% since September, signaling stabilization. VesselsValue data highlights VLCC strength, with 20-year-old 310,000 dwt units up 7.27% month-on-month in December to $43.21 million, driven by scarce compliant tonnage amid tightening IMO emissions rules.
- 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 deals reflect buyers targeting older assets for scrapping extensions or retrofits, bolstering fleet renewal in a market facing supply constraints.
Bulker and Container Markets Lag Behind
Bulker S&P slowed, with just 14 transactions in early December despite firm freight and charter rates. Capesize values firmed most, as 20-year-old 180,000 dwt ships rose 5.42% to $19.06 million. Notable sales include NGM Shipping's profitable flip of the 14-year-old Japanese-built Pacifist from $19 million to $32 million, and NYK Bulkship's sale of the 2012-built 107,000 dwt NBA Rembrandt to ArcelorMittal Shipping for $18.7 million.
Containers ended 2025 cheerfully per Alphaliner, mirroring stable elevated charters up 35% year-over-year, despite Drewry's 45% drop in global 40ft rates. Global Ship Lease acquired the middle-aged 8,568 teu sisters Cypress, Koi, and Lotus A en bloc for $90 million, with CMA CGM time charter attached.
Implications for Shipping Outlook
Volume-led tanker activity points to opportunistic investing amid eco-compliance squeezes, where older vessels fill gaps until newbuilds arrive post-2027. Bulker steadiness and container firmness suggest broad recovery, but softer tanker pricing tempers gains—hinting at normalization after 2024 peaks. Expect sustained S&P if freight holds and regulations accelerate scrappage, fostering capital recycling into greener fleets and stabilizing global trade flows.
