Early 2025 has seen robust tanker sale and purchase (S&P) activity, with Clarksons Research logging 409 vessels totaling 44.5 million dwt and $13.9 billion in value—marking a 27% rise in deadweight tonnage against the 2024 run rate, though dollar volume climbed just 3% amid softer secondhand pricing. This signals sustained investor appetite in a market balancing high demand with moderating values.
Tanker Sector Leads with Stable Values and Key Deals
Tanker values held steady through December across most segments, bolstered by demand for compliant older tonnage amid supply constraints. Clarksons’ five-year-old secondhand price index averaged 10% lower in 2025 than 2024 but rebounded 5% since September, per VesselsValue data showing VLCCs gaining ground: 20-year-old 310,000 dwt units rose 7.27% month-on-month to $43.21 million.
- 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 strategic fleet renewal as owners capitalize on elevated freight rates and regulatory pressures for eco-compliant ships.
Bulkers Show Restraint Despite Strong Freight Markets
Bulker S&P dipped to just 14 deals in early December, even as freight and time charter rates remain firm. Values stabilized, with capesizes leading gains—20-year-old 180,000 dwt vessels up 5.42% to $19.06 million since December's start.
- NGM Shipping flipped the 14-year-old Japanese-built capesize Pacifist for $32 million, bought five years prior for ~$19 million, highlighting lucrative asset plays.
- NYK Bulkship sold the 2012-built 107,000 dwt NBA Rembrandt to ArcelorMittal Shipping for $18.7 million, following the sistership NBA Rubens disposal.
This caution contrasts tanker vigor, possibly as owners hold assets amid peak earnings cycles.
Containers Buck Trend with Steady Demand
Container charter markets stayed elevated, up 35% year-over-year versus 2024 averages, per Alphaliner—though spot rates fell 45% per Drewry. S&P mirrors this cheer: Global Ship Lease acquired the middle-aged 8,568 teu sisters Cypress, Koi, and Lotus A en bloc for $90 million, including a CMA CGM time charter.
"Sale and purchase ends 2025 cheerfully, with firm prices across sizes," Alphaliner noted, underscoring resilient secondary markets.
Outlook: Balancing Demand and Pricing Pressures
Healthy tanker S&P volumes signal confidence in energy shipping amid geopolitical tensions and oil demand recovery, but tempered dollar growth warns of pricing normalization. Broader implications include accelerated scrapping of non-compliant tonnage, boosting values for modern fleets, and potential M&A waves as capex shifts to newbuilds. Investors eye 2026 for sustained activity if freight holds, fostering industry consolidation and greener operations.
