Value of old supertankers soars past new builds as market goes ‘bananas’

With skyrocketing freight rates, the value of old supertankers has skyrocketed, outstripping the prices of newly built vessels. The market's urgency to secure quick delivery times for these ships has driven this unusual shift. This trend highlights the vulnerabilities in supply chains and the intense competition for available shipping capacity, reflecting broader economic pressures impacting global trade. For investors, it underscores the potential for significant returns in vintage shipping assets.