Values For Secondhand Tankers Rise In Fourth Quarter Of 1991

The value of secondhand tankers increased slightly during the fourth quarter if 1991, while secondhand bulkers dropped slightly, according to recently published statistics.

Both bulk carriers and tankers obtained their maximum values in the middle of November, with bulk carriers at 6 percent and tankers at 12 percent above their October 1, 1991, values.

However, from mid-November to year's end, both bulker and tanker values decreased.

One particular size tanker outperformed the rest, in the 35,000 deadweight ton range, increasing in value by almost 14 percent over the quarter even though tankers, in general increased by only 4 percent.

On the other hand, bulk carrier values declined both in general and for particular sizes, dropping 5 percent overall, 6 percent for 25,000 dwt vessels, and 4 percent for 120,000 dwt vessels.

Although tanker and bulker values showed similar lateral movement in the fourth quarter, the prior quarters of 1991 were extremely different for each ship type.

For bulk carriers, the values of the fourth quarter were the highest of the year, capping an almost uninterrupted steep rise from the year's low point, which occurred in March.

In contrast, tanker values moved slightly lower during the first three quarters of 1991 and then recovered part of the year's loss during the fourth quarter.

Maritime Reporter Magazine, page 32, Mar 1992

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