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The Shanghai Shipping Exchange released its November 11 Shanghai Ship Price Index at 1,313.48 points, up 0.37% from the previous week and 16.71% year over year. Its international tanker price index climbed to 1,881.78, a 65.53% annual increase, while the international dry-bulk index advanced 1.76% for the week to 1,035.59. China's coastal and inland dry-bulk indexes fell 0.48% and 0.27%, respectively. The weekly release shows substantial appreciation in international secondhand tanker and bulk-carrier valuations alongside weaker domestic vessel-price indicators.
Tanker Price Index Surges 65.5% Year Over Year
Shanghai's new ship-price data shows international tankers and bulk carriers gaining value while domestic coastal and river-going bulk ships retreat.
International tanker prices lead the market
Up 1.34% from 1,856.89 the previous week. The year-earlier reading was 1,136.84.
Up 1.76% for the week, the strongest percentage increase among the four vessel-sector indexes.
All five indexes: November 11 weekly movements
Year-over-year index appreciation
Domestic asset-market contrast
Both domestic indexes were up over the past year but declined during the latest week. Bars within each panel have separate comparison scales.
Source: Shanghai Shipping Exchange / China Ship Trading Information Platform, November 11, 2026. Displayed weekly and annual percentages reproduce the official release.
Strong Global Asset Prices, Weak Domestic Price Momentum
The November 11 release gives vessel investors five market signals. Their implications are very different for tanker assets, bulk fleets and domestic Chinese shipping.
Sector-by-sector asset-value evidence
What is inside the Shanghai methodology?
Five tanker classes from product tankers to VLCCs, plus four dry-bulk classes from Handysize to Capesize.
Representative domestic tanker and bulk-carrier designs used in the exchange's assessment framework.
River-going tanker and dry-bulk designs, reflecting a different operating and trading market.
Why the secondhand tanker premium is remarkable
Estimated value of a representative five-year-old VLCC. Historical external valuation, not a November 11 SPI dollar figure.
Comparable newbuilding benchmark cited by Veson. New vessels face construction and delivery lead times.
Three distinct financing and investment implications
Rapidly rising international vessel values can increase sellers' expectations while raising acquisition prices for buyers seeking immediate employment.
Changes in an individual ship's independently appraised market value may alter loan-to-value ratios, refinancing capacity and covenant headroom.
Delivery timing and immediately available earnings can explain why existing tankers sometimes command valuations above newbuilding benchmarks.
Sources: Shanghai Shipping Exchange, November 11 index and published methodology; Shanghai Shipping Exchange November 4 weekly commentary; Veson Nautical October 16 vessel-market analysis.
What Could the New Shanghai Index Mean for Your Fleet?
Apply November 11 market-index movements to a hypothetical vessel portfolio and examine collateral, equity and sale-value sensitivity.
Fleet valuation inputs
Index-linked scenario derived from the entered previous vessel value. Not an appraisal or sale quotation.
Fleet valuation versus debt exposure
Index values: Shanghai Shipping Exchange release dated November 11, 2026. All vessel prices, financing and sensitivity assumptions are hypothetical and user-editable.
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