- Older tonnage sees steepest value declines amid market uncertainty.
- Sales activity picks up in July after a slow summer start.
- Greek and private equity buyers dominate the MR market.
MR Tanker values have been in a steady decline since January, sparking a surge in buying interest, especially from those seeking to capitalise on short-term gains. The sector now represents nearly a quarter of all Tanker transactions in 2025, setting the stage for the broader product Tanker market, reports VV Blog.
Earnings Potential and Trading Flexibility Drive Demand
Values are dropping across all age categories, attracting buyers who seek returns and flexibility. MRs carry a lower risk of sanctions compared to VLCCs, making them a more attractive option in a market that’s nearing its peak, where quick returns are essential.
Older Tonnage Hit Hardest
Vessels that are 20 years old and weigh 45,000 DWT have seen a decline of about 27.7% since January, from USD 15.58 million to USD 11.46 million, due to softer freight rates, uncertainty, and upcoming regulatory costs. In July, there was a slight uptick, with 5-year-old, 50,000 DWT ships rising about 3.4% month-on-month. The limited availability of quality tonnage and shipyard slots for 2026–27 is helping to support values, particularly for younger units equipped with scrubbers.
Sales Activity Rises in July
MR S&P deals increased to 19 in July, up from 13 in June. The demand is primarily for modern eco-friendly tonnage, but the price disparity between buyers and sellers is still limiting transaction volumes.
Private equity-backed buyers and traditional Greek owners are at the forefront of fleet renewal as regulations tighten. Greeks make up roughly 19% of sales, while some owners are holding out for a winter freight rally.
MR2s Dominate Sales
MR2s are seeing consistent demand for both modern and older vessels, with an average sold age of 12 years. They represent about 23% of all Tanker transactions in 2025.
Earnings Stay Above Average
One-year time charter rates are hovering just above USD 19,500 per day, still above the average of the past decade, despite a cooling freight market. The broad trading range of MRs helps protect them from being overly
Notable Deals
- Hafnia Taurus & Hafnia Andromeda – MR2s (50,300 DWT, 2011) sold en bloc for USD 36.5m (VV USD 37.95m).
- Grand Ace1 – MR2 (46,000 DWT, 2006) sold for USD 11.5m (VV USD 12.27m).
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Source: VV Blog
