[Second-hand ships are US$15 million more expensive than new ships as buyers compete for spot cargo capacity] September 27th: Affected by tight crude oil transportation in the Middle East, the market price of very large crude carriers (VLCC) rose sharply. The transaction price of some second-hand VLCCs that are about ten years old has exceeded US$150 million, which is higher than the current average cost of new ships of about US$135 million, and ship prices have been inverted. Buyers are willing to pay high premiums just to lock in spot cargo capacity that can be put into operation immediately. The core reason for this round of ship price inversion is the difference in delivery times between old and new ships. When ordering a new ship, you need to wait for construction and delivery. If you buy a second-hand ship in stock, you can immediately put it into route operation, take on freight orders, and earn high freight costs. (CCTV Finance)