Mixed Trends in Secondhand Shipping Markets
Recent activity in the secondhand dry bulk and tanker markets has shown a blend of resilience and challenges, with specific segments performing better than others despite overall downward pressure on asset prices. While the dry bulk sector has experienced a slowdown in transaction volumes, tanker sales have remained robust, indicating a shift in buyer strategies amid fluctuating freight market conditions.
Dry Bulk Market Faces Challenges
The dry bulk carrier market has seen limited transaction activity, with kamsarmax and panamax vessels making up a significant portion of sales. The lack of momentum from the dry bulk freight market has left the secondhand market without a clear direction. Consequently, there has been a general decline in secondhand pricing, with Clarksons’ five-year-old bulk carrier index dropping by 12% year-on-year.
So far this year, around 280 bulk carriers, totaling 21 million deadweight tons (dwt), have been sold for approximately $4.1 billion. This represents a decrease of about 10% in dwt and a staggering 30% in value compared to 2024. Noteworthy transactions this month include the sale of the Cape Friendship, a 185,879 dwt vessel built in 2005, to Chinese interests for $16.1 million, with dry docking scheduled for June. Additionally, the CL Tiffany, CL Mona, and CL Grace, all built between 2012 and 2013, were sold together for $45 million to buyers in China.
Tanker Sales Show Resilience Amid Price Declines
In contrast, the tanker market has demonstrated a more vigorous sales activity in 2025, with approximately 150 vessels totaling 18 million dwt sold for $5.2 billion. This marks a 25% increase in dwt compared to the same period last year. However, the overall value of these transactions has declined, with Clarksons’ five-year-old tanker index down 11% year-on-year and the total dollar value of deals decreasing by around 5%.
Recent notable tanker transactions include the M. Star, a 314,000 dwt vessel built in 2008, which was acquired by Chinese buyers for $47 million. Additionally, the Jag Pooja MR2, a 48,539 dwt vessel from 2005, changed hands for $12 million, reflecting a discount compared to the $17 million sale of the Chiba, built in 2007, in December.
Meanwhile, in the container sector, there is a growing trend of vessels with short balance charters through 2026 entering the market. This shift indicates that owners are eager to capitalize on favorable market conditions and mitigate risks early, driven by high charter rates and strong buyer interest. The Mediterranean Shipping Company (MSC), the largest container line globally, has initiated an aggressive acquisition strategy, purchasing over ten panamax and post-panamax vessels in May alone. Among these high-profile deals, MSC has bid $38.5 million for the Navios Tempo, a 4,249 TEU panamax containership built in 2010.
