VesselNexus Weekly: Global Second-hand Ship Market Insights

VesselNexus Weekly: Global Second-hand Ship Market Insights

Reporting period: 19–25 October 2026

1. Executive Summary

Dry bulk was the standout performer this week, with the BDI gaining 4.48% to 2,660 on the back of a powerful Capesize rally (+12.66%). That strength, however, masked a clear split in the market: Panamax lost 7.74% while Supramax edged up 1.02%. Tanker and container indices were largely flat or unavailable, and S&P activity was dominated by a heavy flow of mid-age tonnage across all major sectors.

2. Dry Bulk Market

The BDI closed the week at 2,660, up 4.48% from 2,546, and traded within a 2,546–2,693 range (weekly average 2,634). The Capesize index (BCI) drove the gains, rising 12.66% to 3,791 from 3,365 (average 3,618). By contrast, the Panamax index (BPI) fell 7.74% to 2,109 from 2,286, while the Supramax index (BSI) firmed 1.02% to 1,887. This divergence suggests that iron ore and bauxite-led Capesize demand is outweighing softer grain and coal flows on the Panamax side. Handysize data (BHSI) was not available this week.

3. Tanker Market

No public data currently available. Both the BDTI and BCTI were marked n/a in this week's feed, so no weekly tanker index movement can be reported.

4. Secondhand & Newbuilding Prices

The Clarksons secondhand and newbuilding indices were not available this week. Banchero Costa reference values (as of 16 October 2026, prior to this reporting window) put secondhand Capesize at USD 74.4m, Kamsarmax at USD 41.7m, Handysize at USD 31.0m, VLCC at USD 205.9m, Suezmax at USD 128.4m, Aframax at USD 95.3m and MR product at USD 51.9m. Newbuilding benchmarks (as of 1 September 2026) stand at USD 74.6m for Capesize, USD 37.3m Kamsarmax, USD 35.4m Ultramax, USD 30.9m Handysize, USD 124.8m VLCC, USD 83.6m Suezmax, USD 72.7m LR2 and USD 46.1m MR2. The implied secondhand-to-newbuild premium on Capesize is essentially nil (74.4 vs 74.6), while VLCC secondhand values carry a substantial premium over newbuild (205.9 vs 124.8), reflecting scarcity of prompt tonnage and longer delivery lead times.

5. Sale & Purchase Activity

Activity was brisk. Two bulkers were sold for recycling delivered to Chittagong: LIAN YI DA 2 HAO (5,560 LDT) and ZHENG NENG FANG ZHO (7,813 LDT). Tanker and container fixtures included VLCCs Southern Emperor (297,400 DWT, Nov 2004) and Eurospirit (320,100 DWT, Dec 2011), Suezmaxes Maran Poseidon and Achilleas (both ~158,300 DWT, 2010), Aframax Hydra (105,700 DWT, 2004), MR2 Valle Azzurra (50,700 DWT, 2007) and a 1,800 TEU Handysize containership (Nordmaas, Oct 2019). On the dry side, Supramaxes Shenli (56,000 DWT, 2004) and Jin Xing (55,500 DWT, 2007), Ultramax Bulk Guatemala (61,400 DWT, 2013), Panamax Wei He (79,400 DWT, 2012) and Handysizes ZBB Serenity (37,300 DWT, 2010) and Marem (34,100 DWT, 2012) changed hands.

6. Ship Recycling Market

Best Oasis pricing (as of 23 October 2026) remains led by Bangladesh: bulker USD 495/LDT, container USD 530/LDT, tanker USD 520/LDT, HMS USD 400/LDT, shredded USD 405/LDT. Pakistan sits close behind (bulker 485, container 505, tanker 495). India lags on larger units (bulker 440, tanker 455, container 485). Türkiye is firmest in the West (bulker 280, container 300, tanker 290, HMS 395, shredded 410).

7. Tanker Market Commentary

Gibson's 23 October report, "Diesel, Drones and Donald," centres on the US easing of sanctions: General License 135 permits sale, delivery and import of Russian-origin diesel into the US until 7 April 2027, and the administration waived the main measures of the Graham Act. Reports also suggest possible easing of shadow-fleet sanctions—a theme worth tracking for tonnage supply.

8. China Freight Market (SSE)

SCFI held essentially flat at 3,681.34 (+0.05% WoW), while CCFI eased 2.41% to 1,876.27, signalling soft contract pricing beneath a stable spot market. CDFI rose 2.64% to 1,598.59, consistent with the Capesize-led dry bulk upturn. CBFI data was not available.

9. Port Stay Time

No public data currently available for this week.

10. Global Schedule Reliability

Global schedule reliability: 56.4% (Top-13 carriers: 67.3%), publication 2026-07-31.

11. Outlook

Watch whether Capesize momentum can offset Panamax weakness in the BDI, and monitor the sanctions-easing narrative for tanker tonnage supply. S&P volumes across mid-age tankers and bulkers bear watching for price discovery.

This report is for informational purposes only and does not constitute investment advice.

VesselNexus周报：全球二手船市场洞察

报告期：2026年10月19日至25日

一、市场总览

本周干散货市场表现突出，BDI受海岬型船强劲上涨（+12.66%）带动，上升4.48%至2,660点。但这一强势掩盖了市场明显分化：巴拿马型下跌7.74%，超灵便型小幅上涨1.02%。油轮与集装箱指数基本持平或数据缺失，二手船买卖活动以各主要板块大量中年船成交为主。

二、干散货市场

BDI收于2,660点，较2,546点上涨4.48%，周内区间2,546–2,693点（周均2,634点）。海岬型指数（BCI）领涨，升12.66%至3,791点（前值3,365点，均值3,618点）。巴拿马型指数（BPI）下跌7.74%至2,109点（前值2,286点），超灵便型指数（BSI）上涨1.02%至1,887点。这一分化表明，铁矿石与铝土矿驱动的海岬型需求正压过巴拿马型方面走弱的粮食与煤炭货流。本周暂无灵便型（BHSI）数据。

三、油轮市场

本周暂无公开数据，BDTI与BCTI均标注为n/a，无法报告油轮指数周度变动。

四、二手船与新造船价格

本周Clarksons二手船及新造船指数缺失。Banchero Costa参考值（截至2026年10月16日，早于本报告期）显示：二手海岬型7,440万美元，卡尔萨姆型4,170万美元，灵便型3,100万美元，VLCC 20,590万美元，苏伊士型12,840万美元，阿芙拉型9,530万美元，MR型成品油轮5,190万美元。新造船基准（截至2026年9月1日）：海岬型7,460万美元，卡尔萨姆型3,730万美元，Ultramax 3,540万美元，灵便型3,090万美元，VLCC 12,480万美元，苏伊士型8,360万美元，LR2 7,270万美元，MR2 4,610万美元。海岬型二手对新造溢价基本为零（7,440万对7,460万美元），而VLCC二手价对新造价溢价显著（20,590万对12,480万美元），反映即期运力稀缺及交付周期较长。

五、买卖活动

成交活跃。两艘散货船拆解交付吉大港：LIAN YI DA 2 HAO（5,560轻吨）与ZHENG NENG FANG ZHO（7,813轻吨）。油轮及集装箱成交包括VLCC Southern Emperor（297,400载重吨，2004年11月）与Eurospirit（320,100载重吨，2011年12月），苏伊士型Maran Poseidon与Achilleas（均约158,300载重吨，2010年），阿芙拉型Hydra（105,700载重吨，2004年），MR2 Valle Azzurra（50,700载重吨，2007年）及一艘1,800 TEU灵便型集装箱船（Nordmaas，2019年10月）。干散货方面，超灵便型Shenli（56,000载重吨，2004年）与Jin Xing（55,500载重吨，2007年）、Ultramax Bulk Guatemala（61,400载重吨，2013年）、巴拿马型Wei He（79,400载重吨，2012年）及灵便型ZBB Serenity（37,300载重吨，2010年）与Marem（34,100载重吨，2012年）易手。

六、船舶拆解市场

Best Oasis报价（截至2026年10月23日）仍以孟加拉国领先：散货船495美元/轻吨，集装箱船530美元/轻吨，油轮520美元/轻吨，HMS 400美元/轻吨，碎废钢405美元/轻吨。巴基斯坦紧随其后（散货船485、集装箱船505、油轮495）。印度在大型船方面落后（散货船440、油轮455、集装箱船485）。土耳其为西方最高（散货船280、集装箱船300、油轮290、HMS 395、碎废钢410）。

七、油轮市场评论

Gibson 10月23日报告《柴油、无人机与唐纳德》聚焦美国放松制裁：第135号通用许可证允许俄罗斯原产柴油在2027年4月7日前销往、交付及进口至美国，政府亦豁免了《格雷厄姆法案》主要措施。报道还暗示可能放松对影子船队的制裁——此主题值得关注运力供给影响。

八、中国运价市场（SSE）

SCFI基本持平于3,681.34点（周环比+0.05%），CCFI下跌2.41%至1,876.27点，显示现货市场稳定之下合约运价偏软。CDFI上涨2.64%至1,598.59点，与海岬型带动的干散货回暖一致。CBFI数据缺失。

九、港口停留时间

本周暂无公开数据。

十、全球班期可靠性

全球班期可靠性56.4%（前13大承运人67.3%），发布日期2026年7月31日。

十一、展望

关注海岬型动能能否在BDI中抵消巴拿马型疲软，并留意制裁放松叙事对油轮运力供给的影响。中年油轮与散货船的买卖成交量值得关注，以判断价格发现走向。

本报告仅供参考，不构成投资建议。