Tanker S&P activity eased in Q2 2026, with 76 transactions completed, down from the 12-quarter high recorded in Q1 and seven fewer than in Q2 2025. Despite the slowdown, year-to-date activity remains strong, with 249 tankers changing hands, equivalent to 73 per cent of all sales recorded in 2025. In capacity terms, 38 Mn dwt has been traded so far this year, already accounting for 88 per cent of last year's total.
In contrast to the subdued newbuilding market, dry bulk S&P activity remained robust in Q2 2026, with 167 transactions completed, up 5 per cent q-o-q and 28 per cent y-o-y. Year-to-date sales have reached 326 vessels, compared with 270 transactions in H1 2025, putting the market on track to comfortably exceed the 617 sales recorded during the whole of last year.
Strong freight markets continued to suppress demolition activity across both the tanker and dry bulk sectors in Q2 2026, with tanker scrappings falling to five vessels and dry bulk demolitions to seven, well below both Q1 2026 and year-earlier levels. As owners opted to keep older vessels trading, the average demolition age rose to 27 years for tankers, the highest since 2008, and 31 years for dry bulk carriers, the highest since 2019.