With shipping widely acknowledging that the tanker sector is finally in the ascendant after a dire 18 months, prices for newbuilds and secondhand tonnage are now “on a tear”, according to a new report from Poten & Partners.
VLCC newbuilding prices have increased from $88.4m in January 2021, to $119m, an increase of 35%, according to the New York-based tanker broker. Secondhand prices have shown a similar trend. Over the same time period, prices for five-year-old VLCCs are up 23% and 10-year old VLCCs 31%.
