Analysts at the bank note 15-year-old VLCCs have jumped 11% to $37m since June.
Five and 10-year-old VLs have risen by 5% and 7% respectively over the same period.
“We believe there is more room for second-hand asset price appreciation in light of the current strong crude tank market supported by oil producers continued incentive to maximize production and hence pour more oil into the market,” Nicolay Dyvik, Oyvind Berle and Petter Haugen wrote in a report today.
Based on their one-year price forecasts, a 10-year-old VLCC could see its value climb by a further 24%. A five-year-old vessel could add a further 14%, the report added.
While tonnage on the water is becoming increasingly valuable, DNB Markets does not see further climbs in the price of VLCC newbuildings.
This is due to a highly competitive shipyard landscape, falling steel prices and limited interest in funding new orders.
