5- and 10-year VLCC and Suezmax weekly prices on the run-up
Weekly vessel values have been on the rise, with positive week-over-week and significant year-over-year growth.
Nov. 21 2019, Updated 1:28 p.m. ET
Newbuild and secondhand vessel prices
Weekly price changes of secondhand vessels have a significant impact on the crude tanker industry. Weekly vessel values have been on the rise, with positive week-over-week and significant year-over-year growth. Secondhand vessel prices tend to be more responsive to changes in current rates.
Secondhand vessel values
For the week ending January 2, 2015, 5- and 10-year-old VLCC prices stood at $63.35 million. This compares to $57.43 million in the previous week and $57.89 million during the same week a month ago. Notably, the VLCC 10-year-old vessel value touched its 52-week high of $50.31 million in the week ending January 2, 2015. Plus, the VLCC 5- and 10-year-old, four-week average stood at $58.94 million, compared to $50.27 million in the same period a year ago.
For the week ending January 2, 2015, 5-year and 10-year-old Suezmax prices stood at $48.63 million, compared to $44.61 million in previous week and $46 million in the same week a month ago. Notably, the Suezmax 5- and 10-year-old vessel value peaked to its 52-week high of $59.04 million and $38.21 million, respectively, in the week ending January 2, 2015. The four-week average stood at $45.73 million, compared to $33.49 million in the same period a year ago.