As reported by Vessel Value, Aframax vessel values are experiencing an upward trend, approaching historically high levels. As of September 2023, 15-year-old Aframaxes were valued at $40.04 million, which is a significant increase compared to previous years.
An increase in values is observed in all seniority categories in this sector. For example, vessels 15 years old and 110,000 tons dwt recorded an increase of approximately 20.95%, going from $31.88 million to $38.46 million. These figures are close to the historical highs reached in September 2008.
Some notable transactions in the period analyzed include the sale of the Aframax "Anavatos 2" and "Fulmar" to buyers in the Middle East for a total of $79 million. In the same period last year, these were valued at $70.52 million.
Greek shipowners in charge
Greek shipowners have led marketing in this sector, with a total of 37 ships sold so far in 2023, representing approximately 35.6% of total sales. In second place is the United Arab Emirates, with around 15%, while Canada and China share third place with approximately 8.4%.
It is important to highlight that a significant proportion of sales continue to be made to unknown buyers, representing approximately 38.3% of transactions since the beginning of 2023. This trend has been observed during the last year and is associated with the emergence of new participants in the oil tanker market.
Despite some volatility in the spot market, one-year charter rates for Aframax have seen an increase of around 44.9% year-on-year, standing at approximately US$41,770 per day.
News and image obtained: "Mundo Marítimo"
The vessel, which will be the first of its kind to be propelled with this fuel, will be delivered in 2026.