Due to the tight transportation of crude oil in the Middle East, prices in the oversized tanker market have risen sharply. The transaction price of some ten-year-old second-hand VLCCs has surpassed 150 million US dollars, which is higher than the current average cost of a new ship of about 135 million US dollars, and there is an inversion of ship prices. Buyers are willing to pay a high premium just to lock in spot freight capacity that can be put into operation right away. The core reason for this ship price reversal is the difference in the delivery cycle between old and new ships. To order a new ship, you need to wait for construction and delivery. If you buy a used ship in stock, you can immediately put into route operation, accept freight orders, and earn high freight charges.

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