Overview of vessel prices
On a weekly basis, vessel prices indicate the currently trading prices of Very Large Crude Carriers (or VLCC), Suezmax, and Aframax, and their weekly changes. With weekly prices indicating short-term performance of the crude tanker industry, we will also look at the four-week average prices in order to smooth out and better understand the data. Depending on its size, a tanker takes two to three-plus years to build, with each tanker costing upward of ~$60 million.
VLCCs’ newbuild prices for the week ending January 6, 2015, stood at $106.04 million. This compares to $100 million the previous week and $101 million in first week of the prior month’s levels, according to data from Vessel Value Ltd. This level is close to its 52-week high of $106.17 million. The past four-week average saw current prices at $102 million, compared to $89 million in the same period last year.
Suezmax prices touched its 52-week high of $77.7 million in the week ending January 6, 2015, compared to $75.4 million in the prior week and $77 million in same week during the previous month. Plus, the four-week average stood at $76.05 million, compared to $58 million in the same period a year ago.
Aframax prices stood at $58.6 million, its 52-week high level, as of the week ending January 6, 2015. This compares to $56.55 million in the prior week and $55.8 million in the same week during the previous month. The four-week average was ~$57 million, compared to $47.1 million in the same period a month ago.