Data from Greek shipbroker Allied Shipbroking shows that the market reference valuation for a 15-year-old, 300,000-dwt very large crude carrier (VLCC) has climbed to $160 million—a 176% increase since last October—while the valuation for a 10-year-old VLCC has reached $190 million, up 116% year-on-year.
As of October 2025, a 15-year-old VLCC was valued at $57.8 million, while a 10-year-old VLCC was valued at $85.3 million. In just one year, the price of the former nearly doubled, rising to 2.76 times its original value, while the latter also more than doubled.
In recent months, the rise in second-hand VLCC prices has accelerated significantly: the benchmark price for a 15-year-old VLCC climbed 54% in a single month, 92% over three months, and 100% over six months. During the same period, the benchmark price for a 10-year-old VLCC increased by 44%, 65%, and 73%, respectively. Allied Shipbroking emphasizes that these figures serve as market reference valuations and do not represent the actual transaction prices for individual vessels.
In its weekly report, Allied Shipbroking noted that the reference price for a newbuild VLCC in October stood at $130 million, a slight year-on-year increase of 1.56%. The benchmark price for a VLCC resale was $240 million, while the market valuation for a five-year-old VLCC was $215 million.
As of October 9, the volume of tanker transactions for 2026 has reached 526 vessels, including 124 VLCCs. In terms of shipowners, Greek owners have been particularly active in the secondhand VLCC market, acquiring a total of 98 vessels; they are followed by South Korean and Chinese owners, who have acquired 68 and 35 vessels, respectively.