Using VesselsValue data, Rebecca Galanopoulos Jones, Senior Content Analyst, analyses 2022 trends within the Cargo markets. These articles explore S&P and Values, Newbuilding, and Demolition trends for Bulkers, Tankers, Containers and Gas, reports All About Shipping.
S&P and Values
“Tanker values have firmed over the course of the year across all sub sector and age categories. Older tonnage has seen the most impressive gains in values, and Aframaxes have been the strongest performers overall with prices for 15 year old vessels rising by almost 120% YoY, from USD 17.89 mil in January 2022 to USD 39.27 mil. This surge in prices has been driven by increased demand for vintage Tankers, which have entered the ‘dark fleet’ to trade on sanctioned Russian oil trade routes and transport sanctioned cargoes…”
“809 vessels were added to the orderbook in 2022, a c.41% decrease from the 1,383 vessels ordered in 2021. Following the extraordinary growth in the prices of vessels ordered seen in 2021, values tailed off slightly in 2022 falling by c.7.4% to USD 87.9 bn. The 2022 figures cannot compare to the staggering increase of 124% in 2021 but have remained at high levels…”
“Scrap prices on the Indian subcontinent have been extremely high but volatile this year. The subcontinent scrap price, when averaged across Bulkers, Tankers, and Containers, has reached levels not seen since 2008. The average scrap price has increased YoY by c.13.5% from 556 USD/LDT in 2021 to 631 USD/LDT in 2022. Prices fluctuated throughout the year with the peak in Q2 of 2022 at 713 USD/LDT. But by the end of the year, prices had fallen by c.21% to 560 USD/LDT…”
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Source: All About Shipping