- Eco Engine dry bulk ships command 5–12% higher resale value, especially in younger age brackets.
- Statistical t-tests confirm that the premium is significant, not due to random variation.
- The findings support stronger valuation and financing prospects for Eco Engine vessels, influencing shipowner and lender strategies.
The rising adoption of energy-efficient vessels has sparked a crucial question in the dry bulk shipping sector: Do Eco Engine ships fetch a higher price in the second-hand market? According to recent analysis, the answer is a clear yes.
Researchers examined more than 3,000 second-hand dry bulk ship sales, focusing on four main vessel categories—Handysize, Supramax, Panamax, and Capesize—spanning five age groups from newly built to over 20 years old. By standardizing variables and visualizing price distributions using box plots, they observed a consistent resale price premium for Eco Engine ships, particularly in vessels under 10 years old, according to Drewry.
A Clear Price Advantage for Eco Engines
The data shows that Eco Engine vessels typically sell for 5–12% more than their non-Eco counterparts within the same vessel type and age group. This premium is especially evident in the 0–10 year range, although it holds across most segments. These differences are not only visible but statistically meaningful.
Backing the Findings with T-Tests
To ensure the results weren’t random, the team employed t-tests—a statistical method used to compare average values between two groups. In this case, it tested the difference in average resale prices between Eco Engine and non-Eco Engine ships. When the p-value from the test is below 0.05, it suggests the difference is statistically significant.
The analysis showed that in age groups 6–10 and 11–15 years, where both vessel types have an active presence, the price premium for Eco Engine vessels was indeed statistically valid. Other age ranges had too few comparable sales to conclude, especially in the newest ships (0–5 years), where few non-Eco vessels exist, and older ships (15+ years), where Eco Engine units are rare.
Business Implications for Owners and Lenders
The findings have important takeaways for shipowners and financiers. Eco Engine vessels, particularly those aged 6–15 years, maintain higher resale values, making them a smarter long-term investment. This pricing edge reflects their superior fuel efficiency and alignment with environmental regulations.
For banks and financial institutions, the data emphasizes the growing importance of engine type in vessel valuation and lending decisions. Eco Engine ships not only promise lower emissions and operating costs but also represent more attractive, lower-risk assets in a market shaped by green regulations and volatile fuel pricing.
As the industry continues its march toward decarbonization, Eco Engine ships are proving to be more than just environmentally sound—they’re financially prudent.
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Source: Drewry
