Secondhand crude tanker values hit highest levels recorded this century

Prices of secondhand crude tankers have reached their highest level in 25 years, backed by a reconfigured global oil trade after Russia’s invasion of Ukraine, according to shipowning body BIMCO.

As the hot market scrambles for available tonnage with secondhand units approaching newbuild prices, BIMCO’s chief shipping analyst, Niels Rasmussen, has seen five-year-old ships increase in value by an average of 67% since December 2020 and up 34% over the past twelve months.

View entirety: Splash 247