It is reported that the resale price of a new-built Aframax tanker is about $36.0m, which demonstrates that even the most modern medium tanker has devaluated by over 30% in the last year.
Greek shipping company Frangos-Moundreas is rumored to purchase the 104,000dwt “Hope 1” built in 2012 by Sumitomo shipyard at a cost of $36.0m. Frangos-Moundreas now boasts a tanker fleet of 13 vessels, of which three are modern Aframax tankers. The owner has cancelled orders for ten Handysize and Panamax bulkers.
The final price is only 70% of the previous trading value ($52.0m) and $1.7m less than the assessment from VesselsValues. The value of secondhand Aframax tankers has been severely depressed in the overall market recession.