Early 2025 has seen robust tanker sale and purchase (S&P) activity, with Clarksons Research tallying 409 vessels totaling 44.5 million deadweight tons (dwt) sold for $13.9 billion—a 27% dwt increase over 2024's pace, though just 3% higher in value amid declining secondhand prices. This underscores sustained investor appetite for tankers despite pricing pressures, signaling market confidence in long-term oil demand.
Tanker Prices Dip but Show Recovery Signs
Clarksons' five-year-old tanker secondhand price index averaged 10% lower in 2025 than 2024, yet ticked up 5% since September, reflecting stabilizing sentiment. VesselsValue data highlights VLCC stability in December, with 20-year-old 310,000 dwt units rising 7.27% month-on-month to $43.21 million, driven by scarce compliant tonnage amid IMO sulfur regulations.
- Key deals: NYK sold the 19-year-old VLCC Towada for $45.7 million.
- Cido Shipping offloaded 14-year-old VLCCs Mermaid Hope and Mercury Hope en bloc for $120 million.
These transactions reveal buyers targeting older assets for quick redeployment, as newbuild delays and retrofit costs tighten eco-compliant supply—a trend amplifying tanker values in a geopolitically volatile oil trade environment.
Bulker Activity Lags Amid Solid Freight Support
Only 14 bulk carriers traded hands in early December, despite firm freight and charter rates. Values held steady, with capesize 20-year-old 180,000 dwt ships up 5.42% to $19.06 million per VesselsValue. Opportunistic plays shine: NGM Shipping flipped a 14-year-old Japanese-built Pacifist cape from $19 million to $32 million in five years.
- NYK Bulkship sold 2012-built 107,000 dwt NBA Rembrandt for $18.7 million to ArcelorMittal Shipping, following sistership NBA Rubens at $15 million.
This subdued volume contrasts tanker vigor, hinting at capex caution in bulkers even as iron ore and coal flows buoy earnings—investors eyeing peak cycle risks.
Containers End Year on High Note
Container charter markets stayed elevated, up 35% versus 2024 averages per Alphaliner, despite 45% lower global 40ft rates year-over-year (Drewry). S&P mirrors this cheer, with middle-aged 8,568 teu sisters Cypress, Koi, and Lotus A sold en bloc to Global Ship Lease for $90 million, including CMA CGM charter-back.
"Just like the charter market, sale and purchase is ending 2025 in a cheerful mood," Alphaliner noted, with firm prices across sizes. This resilience ties to persistent supply chain snarls and e-commerce growth, buffering spot rate volatility.
Outlook: Demand Persists Amid Transition Pressures
Healthy tanker S&P volumes signal oil's enduring role despite energy shifts, bolstered by Red Sea disruptions and sanction-driven fleet dynamics. Softer pricing offers entry points for yields, but regulatory waves—like EU ETS expansions—could squeeze older fleets further. Broader shipping sees selective strength: tankers lead, bulkers selective, boxes steady—pointing to a bifurcated recovery favoring adaptable owners.
