Using VesselsValue data, Rebecca Galanopoulos Jones, Senior Content Analyst, explores the latest trends in the Tanker markets. You can read the full piece here.
Global Clean Tanker trade from Russia climbs
“The highly volatile MR market plunged this week, as US cargo momentum slowed and earnings went down from this year’s peak of 55,857 USD/Day earlier in February, to 28,803 USD/Day today. Sale and purchase activity for MRs remains firm with levels up by c.49% YoY. Overall, values for Clean Tankers have corrected so far this year but remain high, with the exception of older MRs. Values for 20 year old MRs have risen by c.6.24% to USD 16.17 mil…” Read more.
Aframaxes earning over 40K USD/Day
“2022 was a record breaking year for Tanker sale and purchase transactions, of which Aframax sales accounted for just under a quarter of these sales at c.22%. This trend looks set to continue in 2023; in the first two months of the year, sale and purchase activity levels for Aframaxes are up by c.33% YoY, and continue to be led by demand for vintage tonnage. This includes Aframaxes 15 years and older, accounting for 63% of sales over the first two months of this year…” Read more.
