Newbuilds, secondhand tonnage following tanker prices higher, report says

With the tanker sector finally on the rise after a difficult year and a half, prices for newbuild and used tonnage are now “at their peak,” according to a new report from tanker broker Poten & Partners, according to Splash247.com.

VLCC new building Prices have increased to $119 million from $88.4 million in January 2021, while five-year-old VLCC prices have increased by 23% and 10-year-old VLCCs by 31% over the same period, while price developments mainly in the other tanker segments mirror those of the VLCCs, the Poten report said.

New home prices have risen faster than pre-owned values ​​in the current cycle, but Poten said that’s likely to change if interest rates continue to recover.

In its own analysis, brokerage firm Gibson said five-year-old medium-range tankers appreciated in value from $29 million to $34 million in 2022, surpassing the price of a newly-built MR in January 2021.

Gibson said price gains for Aframaxes are even more impressive, as five-year values ​​are up 50% since January 2021 to $51 million and have also outperformed new-build prices as of early 2021.

Among potentially relevant tickers: (FRO), (EURN), (NAT), (DLNG), (DSX), (SB), (GRIN), (TNP), (ASC), (GNK), (SBLK), ( INSW), (EGLE), (STNG), (TNK), (NMM), (GLOP), (DHT), (GLNG), (NVGS)