Clarksons is not yet ready to cut its VLCC asset price projections despite the knock-down sale of an NYK VLCC of late.
While the world’s largest shipbroker notes the $36m paid for the 281,000-dwt Tenzan (built 2000) marks a 30% fall from the last comparable deal, it feels further sales are needed before the fears are formalized.
Its latest weekly report said: “It has yet to be seen whether the sale will in fact set a new benchmark, as at present similar vessels on the market are commanding a premium and sellers are holding firm at pre-Tenzan price ideas.
“The lack of liquidity in the market means that single sales are having dramatic effects on perceived values, when in essence, unless there is a willing seller to repeat last done, it is premature to downgrade asset values too swiftly.”
Clarksons presently values a 10-year-old VLCC at $47m, down 9% over the past three months.
It has a tag of $101m on a VLCC resale and $79m on a five-year-old VL.