Tanker Market Sees Robust Sale And Purchase Activity

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The tanker market demonstrated significant dynamism in sale and purchase activities during week 21, 2024 with key transactions across various tanker segment.

Notable transactions

The VLCC segment saw notable transactions, underscoring robust interest in modern tonnage equipped with environmental compliance features.

In the Aframax tanker segment, significant transactions underscored continued demand for these tankers.

In the MR2 product tanker sector, Bachata (built 2008, 50,179 dwt) was sold for US$27.5M, indicating ongoing interest in mid-sized tankers.

This transaction highlights the market’s focus on maintaining a balanced fleet with versatile vessel sizes and “…recent secondhand sales have been strong, indicating a healthy market interest,” according to the Intermodal Report.

In the chemical carriers segment, specialised tonnage attracted considerable interest.

Capital Maritime & Trading (Evangelos Marinakis) is reported to have exercised options on six VLCCs ordered in January 2024 at Dalian. Due to the high demand for new ships, all six VLCCs will now be constructed by CSSC Tianjin Shipbuilding, each at a cost of US$136.0M. Some sources suggest a potential increase in price to US$140.0M per vessel, this has yet to be confirmed.

Horizon Tankers of Greece has also announced an order for four MR1 product carriers, with an option for two additional vessels, from Zhoushan Changhong International Shipyard at US$45.0M, which will be equipped with 12 cargo tanks, indicating their suitability for parcel trading.

Analysis of the different tanker sectors will be available at the Crude Tankers & Terminals Conference, Awards & Exhibition 2024 (22-23 October 2024). Register your interest here. Nominations for the Awards are now open to all stakeholders.

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Source: Riviera