GRIN - Newbuilds secondhand tonnage following tanker prices higher report says

With the tanker sector finally on the rise after a difficult year-and-a-half, prices for newbuilds and secondhand tonnage are now "on a tear ," a new report from tanker broker Poten & Partners said, according to Splash247.com.

VLCC newbuilding prices have climbed to $119M from $88.4M in January 2021, while prices for five-year-old VLCCs have gained 23% and 10-year old VLCCs are up 31% during the same period, while price developments in the other tanker segments mostly mirror those of the VLCCs, the Poten report said.

Newbuilding prices have increased faster than secondhand values in the current cycle, but Poten said this likely would change if rates continue to recover.

In its own analysis, the Gibson brokerage said five-year-old medium-range tankers have appreciated in value in 2022 to $34M from $29M, exceeding the price of a newbuild MR in January 2021.

Gibson said price gains for Aframaxes are even more impressive, with five-year-old values rising 50% since January 2021 to $51M, also topping newbuilding prices from early 2021.

Among potentially relevant tickers: ( FRO ), ( EURN ), ( NAT ), ( DLNG ), ( DSX ), ( SB ), ( GRIN ), ( TNP ), ( ASC ), ( GNK ), ( SBLK ), ( INSW ), ( EGLE ), ( STNG ), ( TNK ), ( NMM ), ( GLOP ), ( DHT ), ( GLNG ), ( NVGS )

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