A record volume of tonnage is reported to have changed hands last year and reported secondhand sales rose by 29% year-on-year to total 51.0m GT in 2014.
Activity at the larger end of the oil tanker sector was particularly strong and 2014 saw a firm increase in the volume of containership tonnage sold year-on-year. This month we take a closer look at the detail behind global sales activity in 2014.
Selling And Buying Big
A total of 1,320 vessels of 51.0m GT were reported sold market in 2014, a record in terms of GT. This was driven by strong interest in the oil tanker sector with a reported 309 tankers of 23.0m GT sold, 82% more tonnage y-o-y, and the sector accounted for the largest share of sales in GT terms (45%) for the first time on record.
In the general cargo sector, the volume of tonnage sold rose 48% y-o-y in 2014 and 275 units of 6.5m GT were reported to have changed hands. Containerships accounted for 93% of the general cargo units reported sold in 2014 in terms of GT. Meanwhile, reported bulker sales fell 7% y-o-y to 16.9m GT in 2014 (411 ships) though the sector still accounted for 33% of total sales in terms of GT.
The Big Sell On Vessels
Whilst the number of units that changed hands fell 8% y-o-y in 2014, greater interest in the larger size segments saw the average size of ships sold rise 37% y-o-y to around 39,000 GT - the highest ever level. In the tanker sector, a record 79 VLCCs of 12.7m GT were reported sold in 2014 (around a third of which were en-bloc deals) as well as 59 Aframaxes of 3.5m GT and 37 Suezmax tankers of 3.0m GT (up 118% y-o-y in terms of GT). Further, 60 Capesize units of 5.4m GT and 12 boxships above 8,000 TEU of 1.1m GT were reported sold in 2014.
Increased sales of these larger units led to a big rise in the volume of GT sold.The
Big Buyers In 2014
In recent years, Greek owners have typically accounted for the largest proportion of secondhand purchases and their share stood at 24% in 2014 (11.8m GT). Chinese owners are reported to have bought the second largest volume of tonnage in 2014, 5.7m GT, with over half (56%) of units purchased from domestic owners.
Elsewhere, US owners saw sales activity rise 139% y-o-y in 2014 to 4.0m GT, with oil tankers accounting for 50% of the GT.
The Big Sellers In 2014
Japanese owners remained net sellers in 2014 with 7.0m GT reported sold. Bulkers accounted for 51% of Japanese sales in terms of GT and 41% of units were reported sold to Greeks. German owners sold a reported 6.1m GT in 2014, up 36% y-o-y, and they accounted for 56% of total boxship sales (5.9m GT).
Meanwhile, Chinese owners also sold a record 5.1m GT in 2014, a y-o-y rise of 58%.So, secondhand sales activity was strong in 2014 and the reported value of sales totalled $26.1bn, up 26% y-o-y. There was interest in the larger sizes and the average size of ship sold reached a record level.
Greek and Japanese owners were the ‘top’ buyers and sellers respectively whilst Chinese owners’ activity broke previous highs. There has been 3.0m GT reported sold in 2015 so far, but 2014’s total will be a challenging target.
Activity at the larger end of the oil tanker sector was particularly strong and 2014 saw a firm increase in the volume of containership tonnage sold year-on-year. This month we take a closer look at the detail behind global sales activity in 2014.
Selling And Buying Big
A total of 1,320 vessels of 51.0m GT were reported sold market in 2014, a record in terms of GT. This was driven by strong interest in the oil tanker sector with a reported 309 tankers of 23.0m GT sold, 82% more tonnage y-o-y, and the sector accounted for the largest share of sales in GT terms (45%) for the first time on record.
In the general cargo sector, the volume of tonnage sold rose 48% y-o-y in 2014 and 275 units of 6.5m GT were reported to have changed hands. Containerships accounted for 93% of the general cargo units reported sold in 2014 in terms of GT. Meanwhile, reported bulker sales fell 7% y-o-y to 16.9m GT in 2014 (411 ships) though the sector still accounted for 33% of total sales in terms of GT.
The Big Sell On Vessels
Whilst the number of units that changed hands fell 8% y-o-y in 2014, greater interest in the larger size segments saw the average size of ships sold rise 37% y-o-y to around 39,000 GT - the highest ever level. In the tanker sector, a record 79 VLCCs of 12.7m GT were reported sold in 2014 (around a third of which were en-bloc deals) as well as 59 Aframaxes of 3.5m GT and 37 Suezmax tankers of 3.0m GT (up 118% y-o-y in terms of GT). Further, 60 Capesize units of 5.4m GT and 12 boxships above 8,000 TEU of 1.1m GT were reported sold in 2014.
Increased sales of these larger units led to a big rise in the volume of GT sold.The
Big Buyers In 2014
In recent years, Greek owners have typically accounted for the largest proportion of secondhand purchases and their share stood at 24% in 2014 (11.8m GT). Chinese owners are reported to have bought the second largest volume of tonnage in 2014, 5.7m GT, with over half (56%) of units purchased from domestic owners.
Elsewhere, US owners saw sales activity rise 139% y-o-y in 2014 to 4.0m GT, with oil tankers accounting for 50% of the GT.
The Big Sellers In 2014
Japanese owners remained net sellers in 2014 with 7.0m GT reported sold. Bulkers accounted for 51% of Japanese sales in terms of GT and 41% of units were reported sold to Greeks. German owners sold a reported 6.1m GT in 2014, up 36% y-o-y, and they accounted for 56% of total boxship sales (5.9m GT).
Meanwhile, Chinese owners also sold a record 5.1m GT in 2014, a y-o-y rise of 58%.So, secondhand sales activity was strong in 2014 and the reported value of sales totalled $26.1bn, up 26% y-o-y. There was interest in the larger sizes and the average size of ship sold reached a record level.
Greek and Japanese owners were the ‘top’ buyers and sellers respectively whilst Chinese owners’ activity broke previous highs. There has been 3.0m GT reported sold in 2015 so far, but 2014’s total will be a challenging target.