Tanker market sees robust sale and purchase activity

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

Key sales included the VLCC Marjan (built 2002, 302,977 dwt), which was sold by Bahri to UAE-based buyers for US$33.5M, while Bahri was reported as the purchaser of the en bloc sale of SM White Whale1 and SM White Whale2 (both built 2019, 300,759 dwt) for US$116M each – highlighting the premium on newer vessels.

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

Nippon Princess (built 2008, 105,392 dwt) was reported sold for US$41.8M, although, according to the Advanced Market Report, “Tsakos Shipping & Trading committed its LR2 Nippon Princess 105/2008 Sumitomo, Japan at US$38.0M.”

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.

The J19 stainless-steel-type G Bright (built 2004, 19,931 dwt) was sold for US$15.3M, highlighting ongoing demand for vessels capable of transporting chemicals.