The interest in new deals for the purchase and sale of second-hand tankers has eased over the last days, resulting in lower prices. In the previous period, prices had reached the highest level since 2008.
It is noted that the purchase and selling of tankers spiked as of the second half of 2022 following the increase in freight rates. In fact, interest was mainly focused on older ships (15 years and older), several of which were placed on Russian oil transport routes. As a result, ship prices jumped to record levels.
However, something seems to be changing recently. “Tanker trading activity remains subdued as only three vessels found a new owner,” said Xclusiv Shipbrokers in last week’s report.
According to the company’s data, in the first half of 2023, 384 tankers (with a capacity of >= 10,000 dwt) “changed hands” on the secondary market, a 24% increase on an annual basis. However, activity picked up in the second quarter, resulting in a total of 162 sales, down about 27% compared to the first quarter of this year.