2025上半年中国船舶拍卖市场：司法拍卖回升，平台分化加剧

Core Insights - The domestic ship auction market in the first half of the year continued its recovery, with a total of 423 ships auctioned and 181 sold, representing year-on-year increases of 57.2% and 69.2% respectively, with a total transaction value of approximately 2 billion yuan, up 62.3% year-on-year [1] Group 1: Auction Market Performance - Judicial auctions showed remarkable performance, with 139 ships sold for 438 million yuan, marking a year-on-year surge of 247.5% and 140.2% [1] - Commercial auctions experienced a decline in transaction volume, but due to a higher proportion of high-value ship transactions, the total transaction value reached 1.46 billion yuan, a year-on-year increase of 42.1% [1] - The total number of auctioned ships increased significantly, with 405 ships auctioned and 173 sold in the first half of 2025, compared to 270 auctioned and 107 sold in the same period of 2024, reflecting growth rates of 50.0% and 61.7% respectively [3] Group 2: Market Segmentation - The international shipping market showed significant activity, particularly in the capesize segment, influenced by fluctuations in iron ore prices, leading to increased inquiries for bulk carriers over 50,000 tons [2] - The coastal market remained sluggish, with transactions for ships over 40,000 deadweight tons being quiet, while smaller vessels of 1-2 thousand tons emerged as a few bright spots [2] - Engineering vessels led in transaction value, with a total of 819 million yuan, a staggering year-on-year increase of 532.2% [2] Group 3: Judicial Auction Trends - The proportion of judicial auctions increased, accounting for 27.3% of total transaction value, up 14.1 percentage points year-on-year, reversing a four-year decline [3] - Major maritime courts such as Tianjin and Ningbo led in transaction value, with Tianjin Maritime Court achieving a single transaction of 127 million yuan [5] Group 4: Platform Performance - The three major ship auction platforms showed significant divergence, with the "Pai Chuan Wang" platform achieving a transaction value of 1.3 billion yuan, a year-on-year increase of 188.3%, capturing 89% of the commercial auction market [6] - The Guangzhou Shipping Trading Platform managed to sell ships worth 120 million yuan, while the "Gang Yun Pai" platform only sold 4 tugboats for a mere 1.3 million yuan [6][8]