Image source: NAT
Shipping news, the recent rise in crude oil tanker earnings has sparked new momentum in the Suezmax tanker sale and purchase market. Despite stricter scrutiny of the so-called “shadow fleet,” secondhand vessel transactions are active, even for older vessels.
The prices of older vessels remain difficult to predict but are stable, usually depending on the time of survey, specifications, and overall condition. The latest transaction shows that Turkish owner Denizcilik sold the “Ottoman Nobility” (150,000 dwt, built 2005) for approximately $27 million, a level roughly consistent with the last transaction.
Greek shipping magnate George Procopiou is also capitalizing on the strong market. His company Dynacom sold the “Samurai” (built 2008, 169,000 dwt, equipped with a scrubber) to an undisclosed third party for approximately $39 million.
Data from ShipVision Bao, the strategic partner of Shipping, shows that the vessel was renamed “Gregal” in September, reflagged to Sierra Leone, and is operated by a company registered in Liberia.
Indian owners have recently become the most active buyers in the Suezmax tanker sector. India’s largest state-owned shipping company, Shipping Corporation of India, is preparing to purchase two modern Suezmax tankers. Indian owner Great Eastern is also very active in the S&P market.
In September 2025, India’s Seven Islands spent $40 million to purchase the 2009-built “Constantios,” which has been renamed “COMPASS,” doubling its Suezmax tanker fleet.
