VLCC newbuilding and secondhand prices have been on the rise lately, but this is not a repeat of the 2004-2008 tanker “super-cycle”, says Poten & Partners.

Newbuilding prices have increased from $88.4m in January 2021, to $119m this month, an increase of 35%, the US shipbroker said.

Secondhand prices have shown a similar trend with five and 10-year-old VLCCs up 23% and 31%, respectively, over the same period.