Asia Ascend sold for $33 million, setting a record in the Aframax tanker market, highlighting strong demand for aging vessels.
A new sales record has been set in the classic Aframax tanker segment. The tanker named Asia Ascend (115,444 dwt, built in 2004, Samsung) was sold to an undisclosed buyer in China for $33 million. This figure stands out as the highest sale price recorded in the aging tonnage category.
It has been reported that the ship was sold in September of the same year by the Greece-based IMS to the Marshall Islands-flagged company Global Crown for $22 million, with the latest transaction occurring through this company.
Despite the aging tonnage, demand continues to rise.
Although the average age of vessels changing hands in the market has increased, activity in the classic Aframax segment shows no signs of slowing down. According to VesselsValue data, approximately 30 Aframax tankers built between 2000 and 2005 have changed hands since the end of September.
However, it is noted that price transparency in the market is limited. Due to the majority of transactions being conducted through companies connected to China, the publicly disclosed sale amounts remain quite few.
Recent net transactions were observed in October.
It has been recorded that the latest publicly priced sales occurred in October. Accordingly, three Aframax tankers with a capacity of approximately 105,000 dwt, owned by Greek shipowners Eastmed and Minerva Marine, were sold for prices slightly below $22 million each.
The difference with modern tonnage is striking.
The sharp increase in the value of aging tonnage becomes even more notable when compared to modern tanker prices. In March, the tanker named Green Attitude (112,500 dwt, built in 2018) was sold to Minerva Marine for $71 million.
According to sales records, a bid of around $55 million had been prepared for the same vessel in January, but the transaction did not finalize.
Source: SeaNews Türkiye
