The 19-year-old suezmax tanker Sonangol Namibe has changed hands for just under $50m, according to Splash247, in a deal that underscores sustained strength in secondhand crude carrier values well into the shadow-fleet age bracket. The vessel, built in 2007 at Daewoo, displaces 158,425 dwt, and Splash247 reported the price is in line with the June sale of the sanctioned Helion, another Korean-built tanker of the same age currently located in the Gulf of Finland.
Tanker values keep climbing
Splash247 reported that tanker values in this segment show no sign of cooling down, with the Sonangol Namibe joining a long list of suezmaxes changing hands this year. The sale price is notable because the vessel is firmly in the shadow-fleet age bracket — a category of older tankers that have become increasingly sought after as crude carriers, particularly following sanctions on certain Russian-linked tonnage.
| Vessel | Built | DWT | Price / Value | Seller / Buyer Context |
|---|---|---|---|---|
| Sonangol Namibe | 2007 (Daewoo) | 158,425 | Just under $50m | Sold by Sonangol; previously named Cosmo Sail |
| Helion | Korean-built, same age | Not stated | In line with Sonangol Namibe | Sanctioned; located in the Gulf of Finland; changed hands in June |
| Bristol | Two-year-old | Not stated | Close to resale levels; above $90m newbuild price | Sold by CMB.Tech; capital gain of about $56.9m |
Ownership trail and shadow-fleet links
The Sonangol Namibe, until recently named Cosmo Sail, has changed names and companies between two Chinese entities — Hao Xin Long and Taihu Shipping — after being acquired from Thenamaris last year for just under $40m, according to Splash247. That timeline shows the vessel trading through multiple ownerships within roughly a year, with the latest sale marking a significant price jump over the previous transaction.
The reference to the sanctioned Helion, which remains in the Gulf of Finland, points to the active market for older tankers that operate outside mainstream Western insurance and chartering networks. Splash247 did not disclose the buyer of the Sonangol Namibe in the reported excerpt, but the transaction aligns with the broader trend of suezmax sales in 2026.
Modern benchmark: CMB.Tech sells Bristol
While the Sonangol Namibe is a 19-year-old vessel, modern ships in the segment are also fetching record prices. Splash247 reported that CMB.Tech sold the two-year-old Bristol (pictured above), setting a new benchmark and locking in a capital gain of about $56.9m as the Belgian group continues to take advantage of strong crude carrier values.
- The Bristol was sold at close to resale levels and well above its $90m newbuild price.
- The vessel can currently fetch around $75,000 per day for a one-year charter, according to Splash247.
- This charter rate illustrates the earnings power that is underpinning both modern and older tanker asset values.
Implications for tanker operators and charterers
The sale of the Sonangol Namibe, combined with the Bristol transaction, reinforces the strength of the suezmax segment across both vintage and modern tonnage. For charterers, the high one-year charter rate on the Bristol suggests that locking in forward crude carrier capacity remains expensive. For owners, the near-$50m price for a 19-year-old vessel — up from just under $40m a year ago when it was acquired as the Cosmo Sail — signals that secondhand asset values are holding firmly.
Splash247 also highlighted that the transaction follows a long list of suezmax sales this year, meaning fleet turnover is active. Operators with older tonnage in the shadow-fleet age bracket may find favourable conditions for divestment, while those seeking modern ships will likely face premium pricing, as the Bristol sale demonstrates.
Watch list
- Further secondhand suezmax sales — Splash247 indicated tanker values in this segment show no sign of cooling down, so additional transactions are likely.
- Movement of sanctioned tonnage — The sanctioned Helion remains in the Gulf of Finland, and its status could influence shadow-fleet vessel pricing.
- Modern charter rates — The Bristol's one-year charter rate of around $75,000 per day is a key benchmark for whether new ship values stay elevated.
- Capital gains on modern sales — CMB.Tech's $56.9m capital gain suggests newbuild pricing and resale values remain tightly aligned.
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