A Tale of Two Markets

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.

This story was originally published by Breakwave Advisors. Read the full story at Breakwave Advisors →