News ID: 78033 |
Publish Date: 11:48 - 08 January 2018

Secondhand Shipping Markets Expand by 47% in 2017

SECONDHAND markets for cargo carriers and offshore vessels saw significant increases in the number of sales and transaction amounts in 2017, driven by stronger activity in nearly all sectors, new research shows.

Secondhand Shipping Markets Expand by 47%  in 2017
According to MANA, The total spend on 1,709 secondhand deals amounted to $31.5bn last year, compared with $21.4bn on 1,544 deals in 2016, according to VesselsValue estimates.
Among cargo carriers, 1,457 ships with 59.2m gt changed hands in 2017 with a total transaction amount of $24.2bn, versus 1,390 vessels with 51.5m gt for $19.2bn in 2016.
In terms of value, a total of $9bn was spent in secondhand bulker markets last year, exceeding all other sectors. That compares with $6.8bn transaction amounts recorded in 2016.
The increase mainly resulted from higher asset prices, as there was actually less tonnage traded as buyers appeared more reluctant in chasing a rising market.
VesselsValue recorded 666 bulkers totalling 48.7m dwt changed hands in 2017, versus 679 ships with 52.1m dwt in the previous year. The bulker sector was the only ship type with less activity last year.
Broken down by sizes, the capesize, post-panamax and panamax segments experienced less activity last year, while the ultramax, supramax and handysize segments saw more.
In the tanker sector, 335 vessels totalling 31.5m dwt changed hands for $7.4bn in 2017, versus 308 ships with 22.5m dwt for $6.4bn in the previous year.
The very large crude carrier segment encountered more increases in activity than others, with 49 units changing hands for $2.1bn last year compared with 28 units for $1.2bn in 2016.
As for containerships, 303 vessels with 1.3m teu were traded in the secondhand market last year for nearly $5bn, versus 185 vessels with 784,364 teu for $4.3bn in 2016.
In the liquefied natural gas shipping sector, 15 vessels with 2.2m cu m were traded in deals worth $1.6bn last year, compared with nine ships with 1.3m cu m for $944m in 2016.
Also, 37 liquefied petroleum gas carriers totalling 1m cu m changed hands for $823m in 2017, compared with 27 units with 519,795 cu m for $246m in 2016.
In total, 252 offshore units changed hands for $7.3bn in 2017, compared with 154 units for $3.2bn in 2016.
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