Used Tanker Prices Surpassed New Vessel Costs
Maritime operators face record premiums for immediate capacity as regional conflicts disrupt global shipping routes.
Updated on Oct. 13, 2026 in Oil and Gas
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Used oil tanker prices have climbed above the cost of newly constructed vessels, driven by a surge in demand for available shipping capacity. This shift reflects intense pressure on logistics as global trade routes face ongoing disruptions.
Why it matters
The decoupling of used and new vessel pricing stems from urgent demand for immediate shipping capacity to navigate conflict-related route changes. These transit disruptions extend shipping times, creating significant inflationary pressure for industries reliant on maritime freight.
Secondhand tanker prices surged 79.5 percent over the prior year, while newbuild prices rose 4.7 percent. Average daily traffic through the Strait of Hormuz dropped to 4.3 ships, down from an annual average of 85.5 ships.
The players
Clarksons Research
A global shipping services firm providing data, market intelligence, and valuation analysis for the maritime and offshore industries.
The details
Shipping operators are paying premiums for secondhand tonnage to bypass the multi-year wait times associated with new ship deliveries, which currently extend through at least 2028. This scramble for operational assets follows widespread rerouting around traditional chokepoints like the Strait of Hormuz. Consequently, businesses across sectors are seeing freight costs rise, including a sixfold increase in transit expenses on the Busan-Dubai route since October 2025.
Timeline
2002: Clarksons Research began tracking vessel price data.
October 2025: Period measurement for shipping cost growth began.
February 2026: Five-year-old VLCC prices surpassed newbuild prices.
Early September 2026: Strait of Hormuz daily vessel traffic fell to 4.3.
October 1, 2026: Valuation date for new and used oil tankers.
Market Landscape
This reversal in asset valuation marks a sharp departure from the historical premium typically commanded by newbuild tankers since 2002. It reflects a volatile shipping cycle where immediate, functional capacity outweighs the efficiency gains of new vessel construction.
Operators dependent on maritime freight should account for sustained upward pressure on logistics budgets as delivery lead times for new vessels remain at three years. Monitor transit costs and secure long-term capacity agreements to mitigate exposure to continued route volatility.
The takeaway
The premium on used tankers highlights an urgent scramble for operational control in a disrupted supply chain. Operators should factor current freight volatility into contract pricing for the next 18 months and track vessel availability metrics for their specific logistics corridors.
Further reading
For more on market volatility, read the Oil and Gas section.
Source note: This article includes information reported by Pulse.
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