The value of the tanker fleet has slipped by almost $50 billion dollars from 2015 to the present, while bulkers have appreciated by a net $56 billion dollars. The below chart shows the total valuation of each major shipping segment and how it has varied each year from 2015 to the present.

Further, tankers appear to be in the middle of a down cycle, which has depressed the valuation of the tonnage on the water and the outstanding orderbook to second place. Although the top three vessel segments have shuffled places, gas carriers and small dry ships held onto more historic trends. Overall the value of total freight carrying assets fell by about $43bn from the end of 2015.