By Eirini Diamantara & Dimitris Roumeliotis
The tanker Sale & Purchase market during September and October 2026 reveals an interesting divergence between vessels offered for sale and those actually changing hands, highlighting differences in investment appetite across vessel segments, age groups and shipbuilding countries. Based on our data of tankers above 10,000 DWT, a total of 371 vessels were advised for sale during the two-month period, compared to 146 recorded transactions. Although these figures do not represent a direct conversion rate between listings and sales, they provide valuable insight into the composition of supply and actual buying activity.
Looking at vessel segments, the contrast becomes particularly evident in the larger crude tanker categories. A total of 22 VLCCs and 28 Suezmaxes changed hands, compared to just 13 and 16 vessels respectively appearing in the for-sale dataset. Combined, these two segments accounted for 34% of all transactions but less than 8% of for sale available tonnage. Meanwhile, the MR2 segment recorded 42 sales against 125 vessels offered for sale, while smaller tankers accounted for another 167 listings but only 20 transactions. This divergence suggests that buying activity is disproportionately concentrated in larger tankers, potentially reflecting stronger earnings expectations and investor confidence in crude transportation.
The age profile reveals another important distinction. Vessels aged 16–20 years dominate the for-sale market of the last 2 months, with 175 units, representing 47% of available tonnage, followed by 100 vessels aged 21 years and above, accounting for another 27%. Together, these categories represent 74% of advertised vessels, compared to 55% of completed transactions. Conversely, vessels aged 11–15 years represented 23% of sales against just 13% of listings, while the 6–10-year category accounted for 8% of transactions but only 3% of supply. Additionally, five resale transactions were recorded, matching the number of resales for sale. These differences suggest that owners are increasingly seeking opportunities to dispose of ageing assets, while buyers demonstrate comparatively greater interest in younger tonnage.
Shipbuilding origin adds another dimension to this picture. South Korean-built tankers dominate activity, accounting for 146 advised for sale vessels and 68 transactions, representing approximately 39% and 47% of the respective markets. Interestingly, 121 Korean-built tankers offered for sale are already over 15 years old, compared to 38 among those sold. Particularly notable is the 11–15-year category, where 23 Korean-built vessels changed hands against 22 units out in the market, underlining the strong presence of this age group in actual transactions.
Chinese-built tankers present a different profile. Of the 118 vessels for sale since 1st of September, 42 were resales or aged up to 10 years, while this group accounted for 24 of the 48 recorded Chinese-built sales. Japan, meanwhile, exhibits a significantly older profile, with 51 of its 56 for sale vessels exceeding 15 years, compared to 17 of its 21 sales.
Overall, the figures suggest a tanker S&P market characterised by selective investment rather than uniform buying appetite. While larger crude tankers attract substantial transactional activity, the considerable availability of ageing tonnage highlights owners' willingness to capitalise on current asset values. The different age profiles across Korean, Chinese and Japanese-built vessels further demonstrate that vessel specifications, age and trading potential remain central to investment decisions. Ultimately, the balance between available tonnage and buyer preferences will be instrumental in shaping secondhand values over the coming months.
Data source: Xclusiv Shipbrokers Inc.