Tanker secondhand values posted the strongest year-on-year gains in week 17, while dry bulk asset prices continued to appreciate across all size classes and demolition rates held steady at all destinations.
Suezmax resale values are assessed at $175 million, up 21% year-on-year, with five-year units at $120 million reflecting the same annual gain. Aframax resales stand at $88.8 million, up 20% year-on-year, and MR2 resales at $53.5 million, up 7%. Transaction activity was high across all tanker classes. Two 2026-built Suezmax resale vessels achieved $120 million each to Greek buyers, and a pair of 2014-built units changed hands en bloc for $140 million. An older 2007-built Suezmax was reported at $50.1 million. Three 2014-built Aframax units transacted en bloc at $195 million, and a 2018-built Aframax achieved $78 million. A 2006-built VLCC of 302,000 dwt sold for $60 million. In the LR1 segment, a pair of 2007-built units sold at $20 million each, a 2008-built unit achieved $19 million to Greek buyers, and a 2006-built unit was reported at $16.5 million. MR2 activity was particularly broad: a 2026-built resale unit achieved approximately $50 million, three 2014-built Korean-built units transacted en bloc at $105 million to Turkish interests, a 2011-built unit sold at $25.5 million, and a 2010-built unit at $20.8 million. Older 2006-built MR2 tonnage traded at $13.3 million, and a separate 2010-built unit achieved $22 million to Greek buyers.
Tanker newbuilding prices were marginally higher week-on-week. Korean-built VLCCs are quoted at $131 million, Suezmax at $89 million, Aframax at $75.5 million and MR2 at approximately $51 million. Orders placed during the week included eight VLCC-equivalent units at a Chinese yard at $123 million each for 2028 to 2030 delivery, two LR2 tankers at a Chinese yard at $76.5 million each for 2028 delivery, and two MR2 tankers at a Korean yard at approximately $51 million each.
Five-year-old Capesize vessels are assessed at $70.5 million, up 12% year-on-year, while resale units command approximately $81 million, a 7% increase from the same period in 2025. Ten-year-old Capesize tonnage has appreciated more steeply, reaching $54.5 million, a 22% gain on 2025 levels. Kamsarmax and Ultramax resale values are each assessed at approximately $42 to $42.5 million, up around 11% year-on-year. Two 2012-built VLOCs of 205,000 dwt each changed hands en bloc for in excess of $90 million to Chinese interests. In the Kamsarmax sector, an 88,000-dwt 2006-built vessel sold for $12.9 million to Chinese buyers, an 87,000-dwt 2010-built geared unit was reported at mid-$16 million, and a 76,000-dwt 2012-built unit achieved $16.5 million. An older 76,000-dwt 2004-built Panamax sold for $9.65 million.
Transaction activity was concentrated in the Ultramax and Supramax segments. A modern 64,000-dwt 2018-built Ultramax sold for $32 million, and two 2027-built resale units achieved $36.5 million each to Far Eastern buyers. A 60,000-dwt 2016-built unit achieved $26 million, and several 2011 to 2012-built Japanese-built Ultramaxes traded between $18.5 million and $20.4 million. Older 2006 to 2007-built Supramax tonnage changed hands between $9.8 million and $14 million depending on condition and class position. In the Handysize segment, 2014 to 2015-built units achieved $17 to $18 million.
Dry bulk newbuilding prices were broadly flat week-on-week. Capesize orders at Chinese yards are quoted at $75 to $77 million, Kamsarmax at $37 to $38 million, Ultramax at $34 to $35 million and Handysize at $30 to $33 million. Four plus two Capesize units were ordered at an Imabari yard at $39.2 million each for 2028 to 2029 delivery.
Demolition values were stable across all destinations during the week. Indian subcontinent rates for bulkers ranged from $440 to $480 per light displacement tonne, with tankers assessed at $420 to $480 per light displacement tonne. Bangladesh offered $360 to $480 per light displacement tonne for bulkers and $390 to $510 for tankers. Pakistan assessed bulkers at $270 to $400 and tankers at $280 to $440 per light displacement tonne. Turkey remained the lowest-returning destination, with bulker rates between $270 and $460 per light displacement tonne and tankers at $300 to $480. Enquiry in the recycling market was limited. A 1996-built bulk carrier changed hands at approximately $439 per light displacement tonne to a Bangladeshi buyer, and a 1998-built Panamax-sized bulk carrier was reported sold as-is in Indonesia at $461 per light displacement tonne.
