A significant increase in tanker buying and selling activity has been recorded over the last weeks with the interest mainly focused on younger vessels.
After the war in Ukraine, deals for tankers over 15 years old were “skyrocketed” by buyers based in China, Dubai, Turkey, in order to operate on Russian oil transport routes.
Now, however, it seems that more “mainstream” players have returned as buyers. Among them are several domestic shipping companies, which from the second half of 2022 and most of 2023, mainly operated as sellers in the market, reaping exorbitant profits due to the spectacular rise in values.
Although they have corrected somewhat from levels recorded three months ago, prices in the secondary tanker market remain high. According to the latest report by Xclusiv Shipbrokers, the values of tankers of all ages and sizes have increased by 4%-31% year-on-year.
The buyers
Most of the shipping reports of the last week include a big deal between two companies based in Greece.
More specifically, Alberta Shipmanagement has reportedly sold two LR1 product tankers to Naftomar. These are the tankers Aesop and Siena with a capacity of approximately 74,550 dwt and built in 2012 each. Some freight brokers report that the alleged deal closed for a total price of 83 million dollars (41.5 million dollars each vessel).
As “Naftemporiki” has reported, Naftomar has implemented an aggressive fleet development strategy both with LPG carriers, which is its main market, and of course with product tankers, to which it expanded a few months ago. Three MR tankers (with a capacity of 37,000 – 50,000 dwt each) are currently part of its fleet.
At the same time, Greek buyers seem to be behind the acquisition of the MR tanker Evinos, with a capacity of 49,997 dwt and built in 2013), for approximately 34 million dollars. The tanker belongs to Pleiades Shipping Agents.
Another ship reportedly ended up in Greek hands. Domestic shipping companies report that the UOG Helios (46,093 dwt, built in 2009) changed hands for about 25.5 million dollars.
At the beginning of October, Brave Maritime spent approximately 27 million dollars for the ice-class product tanker “Dominia” (capacity 40,174 dwt and built in 2009).
The sellers
A big deal for the sale of tankers was reportedly closed in the last few days by TMS Tankers. In particular, the MR tankers Lacerta and Bora Bora (with a capacity of approximately 49,996 dwt and built in 2016 each) reportedly “changed hands”, for a total of 80 million dollars. The company implements a large shipbuilding program for tankers, bulk carriers and LNG carriers.
At the same time, Eastern Mediterranean Maritime Limited reportedly gave away one of the oldest tankers in its fleet. This is the VLCC Great Lady, with a capacity of 308,930 dwt and built in 2005. The large Greek shipping company is in the process of renewing its fleet, buying new and modern ships, with which it is replacing older generation tonnage.
