The trading activity of VLCC (Very Large Crude Carrier) tankers in September 2023 has surged dramatically. According to recorded statistics, 14 transactions were registered this month, showing a significant increase compared to five transactions in August. This increase in activity has been particularly influenced by the ongoing tensions in the Middle East and their impact on oil supply.
Increase in Tanker Asset Values
The value of tanker assets has also seen a significant rise. According to available reports, VLCC tankers that are five years old have reached a price of $180 million, which is a 6.51 percent increase compared to last week. The total disclosed transaction value has reached approximately $1.54 billion, compared to $324 million in August, indicating an almost fivefold increase in registered investments.
Read more: Major General Rahim Safavi: Iran Will Shape Regional Security Arrangements
Major Transactions and Industry Players
Discussions are ongoing about a major deal involving two VLCC tankers built in 2011 at a price of $160 million each. There are also rumors about the sale of four tankers at a record price of $250 million each. ADNOC Logistics and Services, based in the United Arab Emirates, has been one of the most active names in the VLCC sector in July, August, and September. The company has been adding and selling vessels and had the highest activity in September. Additionally, Onex DMCC from Dubai, with six transactions this month, is recognized as a prominent name in the industry.
Sinokor has also remained active in this area, capitalizing on the rising value of VLCC tankers. Brokerage sources have reported that the tanker Rain Cubic, built in 2008, has been sold. This Korean company purchased the tanker in February for $59 million and is now in the process of buying another tanker named Atherina for $146 million.
Charter Rates and Revenue
Latest statistics from AXIA indicate that one-year charter rates for VLCC tankers have reached $216,000 per day. Additionally, the average revenue for VLCC tankers equipped with eco-scrubbers has reached approximately $614,032 per day. These figures indicate a significant increase in the profitability of this type of tanker in the global market.
Overall, the increase in VLCC tanker trading activity and the rise in asset values in this sector reflect the profound impacts of Middle East tensions on the global oil and shipping markets. These developments could have significant implications for oil supply and pricing in the future.
Read more: Omid Shakeri: Supplying Feedstock for Petrochemicals Will Be More Difficult in Winter · Iranian Tanker Cargo Identified on November 5, 2023, in the Caspian Sea Route
