Sales of tankers reached 409 vessels totaling 44.5 million deadweight tons and $13.9 billion in 2025 so far, according to Clarksons Research. This volume marks a 27% increase in deadweight terms over the 2024 run rate, though dollar value rose only 3% due to softer secondhand pricing. The disparity signals robust trading activity despite downward pressure on asset values in the shipping sector.
Price Declines Temper Dollar Gains
Clarksons’ five-year-old tanker secondhand price index averaged 10% lower in 2025 than in 2024, reflecting broader market softening. Prices ticked up 5% since September, yet values stayed largely stable across most tanker sectors in December. VLCCs bucked the trend with the strongest gains; VesselsValue reported 20-year-old 310,000 dwt vessels rising 7.27% month-on-month from $40.28 million to $43.21 million. This uptick stems from persistent demand for older tonnage amid scarce compliant vessels that meet environmental regulations.
Key Deals Highlight VLCC Strength
Headline transactions underscored VLCC resilience. NYK sold the 19-year-old Towada for $45.7 million, while Cido Shipping offloaded the 14-year-old Mermaid Hope and Mercury Hope en bloc for $120 million. Such deals illustrate how buyers target mid-life assets at adjusted prices, capitalizing on steady crude oil transport needs. Stable values in December suggest owners hold firm, even as newbuild orders lag and geopolitical tensions sustain freight demand.
Bulk Carriers Lag Despite Firm Rates
Bulker sales cooled, with only 14 carriers changing hands in the first half of the month. Freight markets and time charter rates remain solid, yet transaction volumes trail tankers. VesselsValue data shows stability across categories, with capesize vessels leading gains: 20-year-old 180,000 dwt units climbed 5.42% since early December from $18.08 million to $19.06 million. Lower activity may reflect owner caution amid high valuations for newer eco-friendly ships and anticipation of rate peaks.
Overall, healthy S&P volumes point to a maturing cycle where tonnage trades actively but at moderated prices. Shipowners balance scrapping older fleets against retrofit costs for compliance, while buyers eye opportunities in a market favoring established vessels over pricier newbuilds. This dynamic could extend into 2026 if freight strength holds and supply constraints persist.
