- Suezmax Rates Rise but Annual Averages Drop.
- Aframax and LR2 Segments Face Earnings Slide.
- MR Tankers Show Regional Performance Split.
Xclusiv Shipbrokers’ latest report sheds light on a shifting tanker market, showcasing a mix of performances and some significant price adjustments across various segments. VLCCs have held steady, currently raking in $28,078 per day, just a tiny 0.4% drop from the same time in 2024. For the period from January to July 2025, the average earnings sit at $39,630 per day, which is down 4% from last year’s $41,233, reports Safety4Sea.
Suezmax Market Sees Mixed Signals
Earnings in the Suezmax sector have seen an uptick since last August, with TCE now at $35,656 per day, marking a 25% increase year-on-year. However, the average for 2025 so far is $38,845, which still lags behind the 2024 average of $44,347, hinting at some softening in the longer term.
Aframax and LR2 Face a Decline
The Aframax/LR2 segment has also experienced a yearly boost in daily earnings, now at $33,295, up 15% from 2024. Yet, the average TCE for 2025 is notably lower at $31,725 compared to $46,812 for the same timeframe last year, indicating an overall downward trend.
MR Tanker Performance Splits by Region
In the MR product tanker arena, the Atlantic Basket has taken a hit with a 25% year-on-year drop, now at $26,573 per day compared to $35,455 last August. On the flip side, the Pacific Basket has climbed 27% to $24,356 per day, although the year-to-date average still lags at $21,637 compared to $38,863 in 2024.
Vessel Sale Prices Reflect Market Weakness
Sales in the LR1 segment are showing signs of declining asset values. In July 2024, a 76K DWT vessel built in 2008 sold for $29.75 million. Fast forward a year, and a 75K DWT vessel from 2010 only fetched $23.3 million. Crude oil tanker values have followed a similar path, with a 105K DWT Hyundai selling for $38 million in 2024, while a 2009-built Sumitomo went for $32.5 million in 2025.
Suezmax and VLCC Sales Trends Diverge
Suezmax ships have experienced a significant drop in value. For instance, in July 2024, a 159K DWT vessel built by Daewoo in 2005 sold for $34.5 million, while a similar 151K DWT ship from HHI, built in 2003, went for just $19 million in 2025. On the other hand, the VLCC segment stands out as the only area where prices are on the rise, $41.5 million for a 2004-built Universal vessel in 2025, compared to $40 million for a similar vessel built in 2006 in 2024.
Market Correction Signals Cautious Outlook
The data shows a general decline in vessel values across most tanker segments, except VLCCs. This trend suggests weaker fundamentals and a more careful approach from buyers.
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Source: Safety4Sea
