Tankers become the ‘most-wanted’ type of ship in the S&P market

Tankers become the ‘most-wanted’ type of ship in the S&P market

Tanker second-hand tonnage is quickly becoming a hot commodity in the market. In its latest weekly report, shipbroker Intermodal said: “After a series of months where the dry bulk sector was attracting most of the buying interest, tankers S&P activity spiked in the previous weeks.”

It said that over the last week, prevailing buying interest in the wet sector continued to grow with the spotlight being on modern MRs and vintage VLCCs.

A total of eight deals were reported in the MR segment, the vast majority of which were built in South Korea and were less than five years old up to resales, while a couple of them were built in Japanese yards aging around 10 and 20 years, respectively.

It added: “In the VLCC segment more than a handful of S&P transactions were recorded with most of them being built in South Korean yards and more than half fitted with scrubbers, while the whole S&P realm consisted of vessels aged above 15 years”.

Mohamed Rabie, research analyst with Intermodal, said: “Although owners of such tonnage are struggling to confront the current low rates, their choice either in expanding/renewing their fleet or even entering this segment, is in fact a vote of confidence to the crude oil market and proves their high expectations.”

For more information visit www.intermodal.gr

26th April 2021