Current selling market for small oil / chemical tankers
4 de abril de 2022
Estimación de los valores del mercado de los parámetros de búsqueda de un buque caso de estudio: buques “general cargo” entre 7.000 y 12.000 dwt.
4 de abril de 2022
The values indicated in Graphic 1 were taken from the sales averages obtained, within the range of the most significant DWTs for each class of ship, in the first quarter prior to January 2021 and the quarter prior to May 2021. These values were taken of the records made by the different weekly reports of the most important brokerage companies worldwide.
In Graphic 1, an upward trend can be observed in the sale prices of all types of Crude Oil Carrier in the second-hand market. Significant increases were observed in Aframax and secondly in VLCC, which can be understood if the market for buying and selling crude oil and the main shipping and receiving ports, fundamentally between the Middle East and the Southeast, and Northeast Asia. If we analyze the variation in prices depending on the age of the vessels for each type, we can see that the greatest price increases suffered: in the case of the VLCCs, the average 15-year-old; in the case of the Suezmax, the resale; in the case of Aframax and MR, the 10-year average.
These trends can be seen in detail in each of the following graphics:
In Graphic 2 it can be seen how the second-hand VLCC sales market has a rebound in this first four-month period, with a higher percentage of price increase to ships with an average age of 15 years. The polynomial line of «Rate % Increase» presents a trend of constant increase as a function of time and age. By evaluating the data used in the preparation of this graphic, this trend has characteristics of not changing in the short term, because there is an increase in the transportation of crude oil from USGC to North-East Asia and West-India.
In Graphic 3 it can be observed how the market for the sale of second-hand SUEZMAX has a stable behavior, with a greater increase only observed in the segment of RESALE. The “Rate % Increase” polynomial line shows a tendency to be stable over time and with the age of the ship. This trend may have upward changes as the VLCC market becomes saturated.
In Graphic 4 it can be seen how the second hand AFRAMAX sales market has a greater increase in the age segments between 5 and 10 years. On the other hand, the polynomial line of the “Rate % of increase” indicates that the tendency of the increase for the older vessels or resale is much lower. In general, there is an upward trend, the AFRAMAX in general showed a higher price increase than the rest of the Crude Oil Carriers, may be due to a low supply and high demand for this type of ship, used to cover the diets to refineries from central storage tanks.
In Graphic 5 it can be observed how the market for the sale of second-hand MR has a similar behavior to that of AFRAMAX with the highest increase in the 10-year age segments. The polynomial line of the “Rate % of increase” indicates that there is a general trend of increase for MR vessels of all ages. This is because these are ship highly required for the distribution of dirty petroleum products and to cover small diets of the refineries.
Recommended reading of Papers:
1.- Asian Aframax freight rates surge to w90 amid switch to clean products.
S & P GLOBALS. PLATTS. Author: Vickey Du / Sameer Mohindru
2.- Low freight environment shifts Americas-loading VLCC rate differentials.
S & P GLOBALS. PLATTS. Author:Catherine Wood / Kristian Tialios .
By Domingo Vacca. Consultant Engineer NEFOCONSULTING (January-April 2021)
