Sale and purchase activity in the tanker sector has accelerated sharply this year, with Clarksons Research logging 409 vessels totaling 44.5 million deadweight tons and $13.9 billion in value sold so far. This marks a 27% increase in tonnage terms over the 2024 run rate, though dollar volume rose only 3% amid softer secondhand prices. The divergence signals robust demand for capacity even as per-ship values ease, a dynamic that underscores tight supply chains in global energy transport.
Tankers Lead with Resilient Demand Amid Price Pressures
Clarksons' five-year-old tanker secondhand price index has averaged 10% lower in 2025 than in 2024, yet levels have climbed 5% since September. Vessel values held steady across most sectors in December, but VLCCs posted sharp gains: VesselsValue data shows 20-year-old 310,000 dwt units rose 7.27% month-on-month from $40.28 million to $43.21 million. This reflects persistent buyer interest in older tonnage, driven by scarcity of vessels compliant with stricter environmental regulations like IMO 2020 sulfur caps.
Headline deals reinforce the trend. NYK sold the 19-year-old VLCC Towada for $45.7 million, while Cido Shipping offloaded the 14-year-old sister VLCCs Mermaid Hope and Mercury Hope en bloc for $120 million. Such transactions highlight how owners capitalize on elevated freight rates from geopolitical tensions and steady oil demand, offsetting softer pricing through higher volume.
Bulk Carriers Show Restraint Despite Strong Freight
Bulker S&P activity cooled in early December, with only 14 vessels traded despite firm freight markets and time charter rates. Values remained stable, though capesize ships led gains: 20-year-old 180,000 dwt units increased 5.42% from $18.08 million to $19.06 million. Buyers appear cautious, weighing robust earnings against potential rate peaks after years of post-pandemic recovery.
Notable sales include NGM Shipping's disposal of the 14-year-old Japanese-built capesize Pacifist for $32 million—a strong gain from its $19 million acquisition five years prior. NYK Bulkship sold the 2012-built 107,000 dwt NBA Rembrandt for $18.7 million, reportedly to ArcelorMittal Shipping, following the similar sale of its sistership NBA Rubens for $15 million in September. These moves illustrate opportunistic plays in a segment where asset appreciation rewards patient holders.
Container Market Ends Year on Steady Note
Container charter rates have held at elevated levels all year, up 35% against 2024's one-year average, mirroring firm S&P demand across most sizes with stable prices, per Alphaliner. Global 40ft container rates, however, plunged 45% year-over-year according to Drewry, exposing a split between vessel values and cargo economics strained by overcapacity.
Global Ship Lease acquired the middle-aged 8,568 teu sister ships Cypress, Koi, and Lotus A en bloc for $90 million, including a time charter back to CMA CGM. This deal captures the cheerful close to 2025, where charter strength sustains secondary market liquidity. Looking ahead, persistent demand for eco-compliant tonnage across sectors points to continued activity, tempered by regulatory shifts and freight volatility.
