Tanker S&P activity has been healthy in 2025 so far with Clarksons Research reporting 409 tankers of 44.5m dwt and $13.9bn as sold so far, up by 27% in dwt terms compared to the 2024 run rate, but only up by 3% in dollar terms amidst softer secondhand tanker pricing. Clarksons’ five-year-old tanker secondhand price index has averaged 10% lower in 2025 than in 2024, though price levels have ticked up by 5% since September. Tanker values have remained largely stable across most sectors in December. VLCCs saw the most significant gains, according to VesselsValue with 20-year-old vessels of 310,000 dwt appreciating by 7.27% month-on-month from $40.28m to $43.21m, reflecting continued demand for older tonnage amid tight availability of compliant vessels. Headline tanker S&P transactions this month include NYK’s sale of the 19-year-old Towada VLCC for $45.7m, and Cido Shipping’s en bloc sale of the 14-year-old Mermaid Hope and Mercury Hope VLCCs for $120m. In the opening half of the month, just 14 bulk carriers have changed hands. This comes despite the freight markets and time charter rates being very solid. Bulker values have remained stable across most categories with VesselsValue data showing the capesize sector has experienced the most significant increase, particularly for older vessels where 20-year-old, 180,000 dwt tonnage increased by 5.42% since the start of December from $18.08m to $19.06m. Among notable bulkier sales, the 14-year-old Pacifist cape, built in Japan, went for $32m, sold by NGM Shipping, a group known for opportunistic asset play. NGM added the ship five years ago for approximately $19m, underscoring the strong capital gains currently available in the segment. Tokyo-headquartered NYK Bulkship agreed to sell the 2012-built, 107,000 dwt NBA Rembrandt, with multiple brokers pointing to ArcelorMittal Shipping as the buyer at $18.7m. This follows September’s disposal of the one-year-younger sistership NBA Rubens, which Golden Union acquired for around $15m. In containers, there’s been no change in the charter market, which has held at stable elevated levels all year, up 35% versus the one-year time charter average for 2024. By contrast, global 40ft container rates are down 45% year-over-year as per Drewry. “Just like the charter market, sale and purchase is ending 2025 in a cheerful mood, with continued demand for most sizes of ships and firm prices across the board,” Alphaliner reported. The middle-aged, 8,568 teu Cypress, Koi and Lotus A sister ships were sold en bloc to Global Ship Lease for $90m including a time charter to CMA CGM. TagsSplash Extra December 2025