Tanker S&P index soars to highest level since January 2009 as bulkers hit 14-month low

The Baltic Exchange’s secondhand price index for the tanker sector soared to the highest level since January 2009 on Friday, as the measure for bulker prices continued to head in the opposite direction.

The Tanker Sale and Purchase Index reached 6,346 on Friday, a 36 point gain compared to the last reading a week earlier and a 33.8% surge since the close of 2021.

Further value rises come as S&P activity in the sector has slowed from recent heights, but the transaction volume has remained historically strong as tanker spot rates remain buoyant prop up values.

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