Tanker sale and purchase activity concentrated in the VLCC sector this week, dry bulk transactions spread across every size class, and recycling prices in the Indian subcontinent moved higher on continued competition between Pakistan and Bangladesh.
The VLCC segment carried the week. Two 2015-built sisters of about 319,800 dwt, DELTA AMAZON and DELTA APOLLONIA, were committed at USD 120 million each, both scrubber fitted with special surveys falling due in mid 2030. Middle Eastern buying continued alongside. Two 2017-built units of about 298,000 dwt, FRONT HUMBER and FRONT VEFSNA, were reported sold en bloc at USD 270 million to UAE interests, equivalent to USD 135 million per vessel, and the 2011-built 319,368 dwt OLYMPIC LEOPARD went to the same buying group at USD 115 million.
Older crude tonnage also traded. HELLSTUGUTINDEN, 299,095 dwt built 2003, was reported sold at around USD 57 million to Indonesian buyers, and GRIT, 298,555 dwt built 2003, was committed to Korean interests at USD 50 million. Survey position, specification and trading history account for the spread between two vessels of the same vintage.
Mid-size and product activity was thin. The 2007-built Aframax SEASENATOR, 105,715 dwt, was reported at USD 30 million. In the MR sector, the 2005-built sisters CHAMPION CONCEPT and WINFORT, each 47,171 dwt, were each reported at USD 13 million.
Longer-run data published this week put the January to July 2026 tanker sale and purchase count at 365 vessels against 239 in the same period of 2025, an increase of 53 percent. VLCC and ULCC sales accounted for 83 of those transactions, close to 23 percent of the total, against 31 a year earlier. Vessels aged 16 to 20 years made up 157 sales, roughly 43 percent of the total, which confirms sustained appetite for vintage crude tonnage.
Dry bulk transactions covered every size class. On the Capesize sector, MOUNT DAMPIER, 181,469 dwt built 2011 at Imabari, was reported sold at excess of USD 38 million to European buyers. RTM TASMAN, 205,432 dwt built 2013, also changed hands, with the price undisclosed.
Panamax trading was steady at modest levels. FRANCESCO CORRADO, 77,061 dwt built 2008 at Oshima, went to Korean interests at USD 15 million, matching the level achieved by a sister vessel earlier in the month. IVESTOS 9, 75,131 dwt built 2008, was reported at USD 11.75 million.
The Supramax and Ultramax sizes produced the widest spread of the week. AFRICAN WAGTAIL, 58,340 dwt built 2013, was reported in the region of USD 20.5 million. MARIANNA, 55,753 dwt built 2010, was committed at around USD 17 million. SPAR SCORPIO, 53,565 dwt built 2006, was reported at USD 11.35 million. CBW LIAN YUN GANG, 56,869 dwt built 2011, was acquired by Middle Eastern buyers at USD 10.5 million through an auction sale basis immediate drydock, a level that reflects the auction route and the survey position. GLORY BRIDGE, 50,077 dwt built 2001, was committed at USD 7.5 million, above the USD 6.3 million paid for a sister vessel in May.
Smaller sizes remained liquid. JIN HANG FU ZHAN, 49,420 dwt built 2004, was sold to Chinese buyers at USD 9.2 million, and ARKLOW SPIRIT, 36,006 dwt built 2013 with an eco main engine, went to Greek buyers at USD 16.6 million.
Newbuilding contracting supported the same picture. Two 182,000 dwt units were ordered at Namura at about USD 77 million each for 2029 delivery, and three Ultramaxes of 63,800 dwt were contracted at Nantong Xiangyu at USD 36 million each.
Recycling prices across the Indian subcontinent firmed again, with Pakistan holding the highest levels. Gaddani paid around USD 495 per ldt for bulk carriers and USD 508 per ldt for tankers, against USD 472 and USD 500 at Chattogram and USD 435 and USD 449 at Alang. Turkey remained far below at about USD 277 per ldt for bulk carriers and USD 287 per ldt for tankers.
Pakistani buying was driven by a domestic billet shortage and by seasonal supply bottlenecks from the monsoon, which lifted local steel plate to 203,000 Pakistani rupees per tonne, the highest quoted level in the region. Some yards paid premiums to secure tonnage in support of Hong Kong Convention certification, others to close transactions ahead of tax and audit deadlines.
Bangladesh maintained healthy appetite, with the sharpest interest in small and mid-size tankers. Differentials of USD 15 to 20 per ldt between competing recyclers were readily observable, driven by yards that need tonnage to extend their recycling approvals.
India saw domestic prices strengthen month on month, with common plate rising from INR 38,400 to INR 40,500 per tonne and melting scrap from INR 33,300 to INR 34,500 per tonne. Alang continues to struggle against the premiums offered in Pakistan and Bangladesh for conventional bulk carriers and container vessels, and holds its position as the destination for sanctioned tonnage and for vessels requiring fully compliant green recycling.
Supply remains the binding constraint. Reported sales were limited to vintage units. A 1989-built bulk carrier of about 5,733 ldt was committed to India, a 1990-built bulk carrier of about 5,000 ldt was delivered at Gaddani, a 1999-built reefer of 6,420 ldt was delivered at Chattogram, and a 1992-built reefer of 4,629 ldt was sold as is Busan at USD 463 per ldt. Whether current levels persuade owners to release more vintage tonnage remains to be seen.
