A scrubber-fitted Suezmax and a series of MR transactions headlined tanker secondhand activity in Week 15, while dry bulk values held flat across all size classes and demolition prices firmed in Bangladesh ahead of the pre-monsoon season.
The most notable secondhand tanker sale in Week 15 was the “Stena Surprise,” a 158,491 dwt scrubber-fitted Suezmax built at Sungdong in 2012, which sold at high $60 million. The coated LR2 “P. Aliki” (105,304 dwt, 2010, Hyundai Heavy Industries), fitted with a scrubber and stainless-steel coated tanks, was reported sold to Trafigura at $42.65 million. In the LR1 segment, “Ever Victory” (70,426 dwt, 2005, Universal Japan) changed hands at $14.68 million. MR activity was broad: the scrubber-fitted “Pro Onyx” (49,999 dwt, 2019, Hyundai Mipo) sold at $39 million with a time charter attached through August to December 2026; “Ocean Spirit” (49,995 dwt, 2012, Spp Korea) went at $27 million; the scrubber-fitted “Ardmore Engineer” (49,420 dwt, 2014, Stx Korea) sold to Gesco at $35.5 million; “Jag Prakash” (47,848 dwt, 2007, Stx Korea) achieved $17.5 million to Far Eastern interests; “Easternly Canyon” (36,677 dwt, 2009, Hyundai Mipo), an IMO 2 MR1, sold to Greek buyers at $19 million; and the ice-class 1B scrubber-fitted “East Coast” (37,515 dwt, 2005, Hyundai Mipo) changed hands at mid to high $11 million. The stainless-steel chemical and oil carrier “JBU Sapphire” (19,860 dwt, 2009, Kitanihon Japan) sold to Chinese buyers at $18.7 million. Benchmark secondhand values were unchanged week on week, with a five-year VLCC assessed at $139.5 million, a five-year Suezmax at $87.5 million, a five-year Aframax at $72 million, and a five-year MR2 at $46.5 million.
Newbuilding orders were concentrated in large crude carriers. AET contracted four plus two 320,000 dwt VLCCs at Hengli Shipbuilding in China at $138 million each for 2029 delivery, Stealth Maritime placed two at Hanwha Ocean in Korea at $132.5 million each for 2030, and Carlova contracted one at the same yard at $130 million for 2029. In the Suezmax segment, Akrotiri ordered one 158,000 dwt vessel at New Times Shipbuilding in China at $82 million for 2029, Ibaizabal placed four 158,000 dwt units at Hengli at $86 million each for 2028, and Eastern Pacific contracted two 157,000 dwt Suezmaxes at CSSC GSI in China for 2028 delivery at an undisclosed price. Carlova additionally contracted one 114,000 dwt Aframax at Hengli at $73 million for 2029, and Hafnia placed eight 50,000 dwt MR2 product carriers at Hyundai yards at $50.5 million each for 2028 and 2029 delivery.
Dry bulk secondhand activity in Week 15 was concentrated in the smaller size classes, with no Capesize transactions reported. The Post-Panamax “Yangtze 901” (93,229 dwt, 2012, Jiangsu China) sold to Chinese interests at $12.8 million for July to August 2026 delivery. On the Panamax side, “Skyros” (79,366 dwt, 2011, Nanjing Wujiazui China) changed hands at mid to high $13 million. The Ultramax “ASL Ixora” (61,470 dwt, 2012, Imabari Japan) sold to Chinese buyers at $19.6 million. Four Supramax transactions were reported: “K. Ruby” (55,688 dwt, 2011, IHI Japan) achieved high $15 million to Chinese interests; “Serene Amelia” (57,238 dwt, 2010, Stx Korea) went at mid $14 million; “Petrus” (57,334 dwt, 2011, Stx Korea) sold at high $13 million; and “Poseidon S” (53,482 dwt, 2008, Imabari Japan) sold to Turkish buyers at $13 million. In the Handysize segment, “Nanaimo Bay” (34,407 dwt, 2016, Namura Japan) sold at excess $19 million for June to August 2026 delivery; “Stamford Pioneer” (32,211 dwt, 2012, Taizhou China) achieved $8.5 million; “Aeolos” (31,640 dwt, 2001, Saiki Japan), an open-hatch box-shaped design, sold at $6.5 million; and “Juno Brave” (25,081 dwt, 2012, Murakami Japan) went to Vietnamese interests at $6.5 million. Benchmark secondhand values were unchanged week on week, with a five-year Capesize assessed at $70 million, a five-year Kamsarmax at $36.5 million, a five-year Ultramax at $36.5 million, and a five-year Handysize at $29 million.
Newbuilding activity included a substantial order for large bulk carriers: Shandong Shipping contracted ten 325,000 dwt units at Qingdao Beihai in China at $130 million each, on time charter to Vale. Energy One ordered four 92,500 dwt dual-fuel ammonia-ready bulk carriers at Swan Defence Heavy Industries for 2029 delivery, and Alpha Omega Marine contracted four 40,000 dwt bulk carriers at Jiangsu Huatai for 2027 to 2028 delivery. Chinese yard newbuilding prices were assessed at $72.7 million for a Capesize, $36.1 million for a Kamsarmax, $34.0 million for an Ultramax, and $30.0 million for a Handysize.
Demolition prices firmed across the Indian Subcontinent in Week 15, with Bangladesh the strongest market as recyclers positioned ahead of the pre-monsoon season and in anticipation of budget-related changes to import tax structures. Dry bulk vessels were quoted at approximately $390 per ldt in India, $440 per ldt in Bangladesh, $435 per ldt in Pakistan, and $270 per ldt in Turkey. Tanker recycling rates ran marginally higher: approximately $405 per ldt in India, $465 per ldt in Bangladesh, $450 per ldt in Pakistan, and $280 per ldt in Turkey. Reported transactions included an LNG carrier of approximately 31,340 ldt that achieved around $513 per ldt as-is at Linggi in Malaysia, and the 1998-built Panamax bulk carrier “Andhika Kanishka” (10,026 ldt) sold as-is in Indonesia at $461 per ldt. Pakistan maintained selective appetite with limited tonnage available, while Turkey held broadly stable with local scrap prices providing modest support.
