In its 2025 Year-End Market Report, Veson Nautical noted that high vessel prices and market uncertainty have led to a decrease in second-hand vessel transactions across most vessel types; new shipbuilding orders have cooled significantly after reaching previous peaks, mainly due to extended vessel delivery times and unresolved issues regarding marine fuel types.
In the dry bulk market, Veson Nautical data indicates that in 2025, prices for 5-year-old and 10-year-old 180,000 DWT Capesize bulk carriers rose by approximately 24% and 25% year-on-year, respectively. Regarding newbuild orders, a total of 396 dry bulk carriers were ordered globally in 2025. Although order trends showed some recovery in the second half of the year, the annual order volume still reached its lowest level since 2019. Regarding ship scrapping, 81 bulk carriers were dismantled in 2025, a 40% increase year-on-year. However, the report also notes that the current scale of dry bulk carrier scrapping remains below levels commensurate with the fleet’s aging profile.
In the tanker market, Veson Nautical data shows that in 2025, the volume of second-hand vessel transactions decreased slightly by 4%, totaling 817 deals. The price difference between second-hand crude oil tankers and product tankers continued to widen, with VLCCs aged 0-15 years seeing a 3-8% price increase throughout the year. In contrast, the prices of product tankers fell significantly; for example, the prices of 15-year-old 75,000 DWT LR1 and 50,000 DWT MR product tankers decreased by 29% and 19%, respectively. Regarding new vessel orders, a total of 291 tankers were ordered globally in 2025, a sharp decrease of 43% year-on-year. In terms of shipbreaking, 43 tankers were scrapped in 2025, a significant increase compared to 12 in 2024, with the average age of the scrapped tankers reaching 29 years.
In the container ship market, Veson Nautical data indicates robust demand for small-to-medium-sized secondhand vessels. For instance, prices for 15-year-old 4,250 TEU container ships rose by 14%, while those for 15-year-old 1,750 TEU vessels increased by 22%. Conversely, newbuild prices for ultra-large container ships declined by 9%. Regarding new orders, 600 container ships (including options) were ordered globally in 2025, representing a year-on-year increase of approximately 42%. For second-hand vessels, 350 transactions were recorded in 2025, a 29% year-on-year decrease. In terms of scrapping, 13 container ships were dismantled in 2025, a sharp 78% year-on-year decline.
In the liquefied petroleum gas (LPG) market, Veson Nautical data indicates that new vessel orders for 2025 totaled only 44 units, a staggering 70% year-on-year plunge. Second-hand vessel transactions numbered 122, down 44% year-on-year, while the annual scrapping volume amounted to just 12 vessels.
Veson Nautical concluded in its 2025 Year-End Market Report that while vessel scrapping volumes have rebounded from extremely low levels, shipowners’ balancing of factors such as pricing, compliance pressures, and shipyard capacity has resulted in an uneven fleet renewal process.