Tanker values surge as strong earnings and Sinokor spree reset S&P benchmarks

• Tanker asset values have risen across all segments since mid-December, underpinned by months of strong freight earnings that have reduced sellers’ willingness to discount
• Robust cashflow visibility has anchored valuations at elevated levels, while compliance and sanctions-related constraints have tightened the pool of mainstream tonnage
• VLCC prices have been further boosted by a heavy buying programme from South Korea’s Sinokor, which has acquired numerous VLCCs at prices above benchmark estimates