Sale and purchase activity in the tanker sector has accelerated sharply this year, with Clarksons Research recording 409 vessels totaling 44.5 million deadweight tons sold for $13.9 billion so far—a 27% increase in tonnage over the 2024 run rate, though dollar volume rose only 3% amid softer secondhand prices. This disparity highlights how buyers prioritize capacity over value in a market facing tight supply of compliant vessels. The trend underscores broader shipping dynamics where older tonnage commands premiums despite price softness.
Tankers Lead with Steady Demand for Aging Fleets
Clarksons’ five-year-old tanker secondhand price index averaged 10% lower in 2025 than in 2024, yet levels have climbed 5% since September, signaling a floor under values. VesselsValue data shows tanker prices holding stable through December across most sectors, with very large crude carriers (VLCCs) posting the strongest gains: 20-year-old 310,000 dwt units rose 7.27% month-on-month to $43.21 million. Such appreciation reflects persistent demand for older ships as newbuilds struggle to meet environmental regulations, squeezing eco-compliant availability.
Key deals reinforce this pattern. 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. These transactions illustrate how owners capitalize on scarcity-driven premiums, even as overall pricing lags prior-year highs.
Bulk Carriers Lag Despite Robust Freight Support
Bulk carrier sales cooled in early December, with only 14 vessels traded despite firm freight rates and time charter levels. Values stayed stable, but capesize ships saw notable lifts, particularly for older units: VesselsValue reports 20-year-old 180,000 dwt capesizes up 5.42% since December's start, from $18.08 million to $19.06 million. This uptick points to investor interest in assets buoyed by strong capesize earnings.
Standout sales include NGM Shipping's disposal of the 14-year-old Japanese-built capesize Pacifist for $32 million—a vessel acquired five years prior for about $19 million, delivering substantial capital gains. Separately, NYK Bulkship sold the 2012-built 107,000 dwt NBA Rembrandt for $18.7 million, reportedly to ArcelorMittal Shipping; this mirrors the September sale of its younger sister NBA Rubens to Golden Union for around $15 million. These moves highlight opportunistic plays in a segment where freight strength sustains asset values.
Container Market Ends Year on High Note
Container sale and purchase activity closed 2025 positively, mirroring a charter market stable at levels 35% above 2024's one-year time charter average, per Alphaliner. Global 40ft container rates fell 45% year-over-year according to Drewry, yet ship demand remains firm across sizes with prices holding steady. Alphaliner notes continued buyer interest in most vessel categories.
A prime example is the en bloc sale of the middle-aged 8,568 teu sister ships Cypress, Koi, and Lotus A to Global Ship Lease for $90 million, complete with a time charter back to CMA CGM. This deal captures how charter stability translates to secondary market confidence, positioning containers as a bright spot amid divergent sector performances.
