Since 2025, the global second-hand ship trading market has significantly cooled, with the transaction volumes for both bulk carriers and tankers declining compared to the same period last year. In its latest weekly report, shipbroker Xclusiv pointed out that from January to the end of July this year, a total of 703 bulk carriers and tankers over 10,000 deadweight tons changed hands, a 15% decrease from the 831 vessels in the same period of 2024.
In the bulk carrier segment, the decline in transaction volume was particularly noticeable. By the end of July 2025, only 469 vessels were traded, a 13% decrease year-on-year. Among them, Handysize vessels remained the most traded, reaching 122 ships; Supramax followed closely with 108 ships, accounting for 23%; Panamax ranked third with 58 ships.
Notably, although Handysize and Supramax transactions still lead, they fell by 11% and 16% year-on-year respectively; in contrast, Panamax transactions bucked the trend, increasing by 26% year-on-year. Meanwhile, Capesize and Newcastlemax types saw the most severe declines, with only 34 and 9 ships traded respectively, plummeting by 45% and 68% year-on-year.
Regarding age structure, the market showed a preference for “middle-aged” and “older” vessels. Vessels aged 11 to 15 years accounted for 215 transactions, nearly half of the total bulk carrier trades; 99 vessels aged 16 to 20 years changed hands. On the seller side, Greek shipowners were the most active, selling 98 ships in total, with Panamax (32 ships, average age 20 years) and Supramax (31 ships, average age 18 years) being the most concentrated types. On the buyer side, Chinese shipowners topped the list, purchasing 80 ships, with Supramax being the most popular (25 ships, average age 17 years), followed by Panamax (15 ships, average age 19 years).
The tanker market also showed signs of cooling. Cumulative transactions this year reached 234 ships, a 20% decrease year-on-year. Among them, MR2 type led with 71 ships; LR2 transactions totaled 41 ships, ranking second; VLCCs completed 31 transactions. Overall transaction volumes generally declined, but the Suezmax type performed notably well, with 27 ships changing hands so far this year, almost double the number from the same period last year.
Looking at the age distribution, the 2025 tanker market was almost dominated by older vessels. Vessels aged 16 to 20 years accounted for 113 transactions, representing 48% of the total; 34 vessels over 21 years old were traded, a 26% increase year-on-year. On the seller side, Greek shipowners continued to play a major role, selling a total of 50 ships, with LR2 being the most numerous (16 ships, average age 15 years), followed by MR2 and VLCC with 10 and 9 ships respectively. On the buyer side, Chinese shipowners remained the most active, purchasing 38 tankers, with LR2 accounting for the highest proportion (11 ships, average age 18 years), followed closely by VLCC (9 ships, average age 18 years).
