Towards the end of last week, Teekay Tankers exited the VLCC sector, selling the 2013-built, 318,700 dwt Singapore Spirit — formerly Hong Kong Spirit — for $84.5m. Over the weekend, brokers linked the usual suspect these days, Sinokor, to the deal.
The sale follows CMB.TECH’s disposal earlier this month of the 2012-built, 314,000 dwt Ingrid and Ilma, also reportedly tied to the same buyer. All vessels are scheduled for delivery in the second quarter of 2026. VesselsValue links five purchases to Sinokor this month alone, while the Korean player is associated with more than 40 secondhand VLCC acquisitions so far this year.
According to shipbroker Xclusiv, 15-year-old VLCC values have surged year-on-year. February 2026 levels stand at around $83m, up from $53m in February 2025 — a sharp 57% increase. Ten-year-old units have also posted solid gains, rising to approximately $105m from $83.3m over the same period, marking a 26% uplift.
The segment continues to draw strong buyer interest as modern eco tonnage remains scarce and earnings underpin firm asset pricing.
VLCCs are also seeing high-paying time charter fixtures this week, with charterers fixing several vessels close to $100,000 per day on one-year deals — a dynamic that helps explain the sharp acceleration in secondhand values.
