An oil tanker, also known as a petroleum tanker, is a merchant ship designed for the bulk transport of oil. There are two basic types of oil tankers: the crude tanker and the product tanker. Crude tankers move large quantities of unrefined crude oil from its point of extraction to refineries. Product tankers, generally much smaller, are designed to move refined products from refineries to points near consuming markets.
Oil tankers are often classified by their size as well as their occupation. The size classes range from inland or coastal tankers of a few thousand metric tons of deadweight (DWT) to the mammoth ultra large crude carriers (ULCCs) of 550,000DWT. Tankers move approximately 2,000,000,000 metric tons (2.2×109 short tons) of oil every year. Second only to pipelines in terms of efficiency, the average cost of oil transport by tanker amounts to only two or three United States cents per 1 US gallon (3.8L).
McQuilling Services has just released the 26th anniversary edition of its keenly read five-year tanker outlook ... These estimates are basis non-eco tankers without scrubbers. Turning to product tankers, McQuilling reckons the Russian sanctions will exacerbate the demand growth for clean tankers and particularly for the LR segments.
Despite some extraordinary sums being paid for vintage clean tonnage of late, and expectations that these units will be used to lift Russian clean products, according to analysis by BRS the clean shadow tanker fleet remains too small to carry Russia’s near-2m barrels per day of clean product exports.
Road transport of petroleum products is a key vertical for Tristar, with services across the GCC, Asia and Africa... Tristar’s shipping business owns and/or operates more than 30 chemical, oil and gas tankers and bulk carriers that trade globally, mostly with oil majors ... Clean petroleum products.
That would mean year-on-year growth versus 2022 of 25-30% while adding as much as 2% to the overall clean petroleum products’ seaborne cargo volume,” said Rasmussen. Product tankers are already predicted to benefit from an increase in average sailing distances in 2023 due to the upcoming European Union ban of Russian petroleum products.
In April 2020, an oversupply of crude oil and refined petroleum products, resulting from decreased demand during the COVID-19 pandemic, drove both clean and dirty tanker rates to record highs ...Clean petroleum products are typically transported on medium range (MR) tankers, which are generally smaller than dirty tankers.