The valuation of Very Large Crude Carriers (VLCCs) is on an upward trajectory, even for older ships. Brokers have reported the sale of the 302,400 dwt, Kawasaki-built Yamatogawa for $61.5 million. This transaction is notable given the vessel's age and its upcoming special survey in September.
This sale follows a similar deal in April, where the Kasagisan, a Mitsui-built vessel of the same age and size, was reportedly sold for a slightly lower, but still significant, amount. The continued appreciation in value for these older tankers highlights a robust demand within the crude oil shipping sector, coupled with a constrained supply of available vessels.
For freight forwarders and operations managers, this trend suggests a tightening market for crude oil transportation. Higher vessel values often translate into increased charter rates, which can impact the overall cost of moving crude oil. While this article specifically addresses tankers, it reflects a broader sentiment of asset appreciation in certain shipping segments, potentially influencing decisions on vessel deployment and long-term contract negotiations. The strong secondhand market also indicates that owners are holding onto older tonnage longer, potentially reducing the influx of new, more efficient vessels.