June 15, 2018 - 10:16 AM EDT
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Global Crude Oil Carriers Market Outlook 2017-2026, With an Expected CAGR of 4.1% - ResearchAndMarkets.com


The "Crude Oil Carriers - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering.

According to the publisher, the Global Crude Oil Carriers market is accounted for $172.67 billion in 2017 and is expected to reach $250.04 billion by 2026 growing at a CAGR of 4.1% during the forecast period.

Some of the major factors fuelling the market include increasing demand for bulk oil transportation services and facilities, rapid industrialization longer hauls and less triangulation options to reduce ballasting. In addition to this, lower costs of bunker fuels and trending of low global oil prices.

On the basis of Vessel type, Very large crude carrier and ultra large crude carrier are known as super tankers. Its role and scope becomes far more feasible as they help to transport huge quantities of crude oil across the oceans and seas as they can carry huge quantities of crude oil in bulk, therefore economies of scale can be greatly realized. ULCCs and VLCCs have extremely high carrying capacity of over 250,000 DWT, allowing crude transportation of up to 550,000 DWT.

Asia Pacific witnessed largest market share as they own and operate most of the crude oil carriers. North America is also expected to present profitable opportunities for carriers over the forecast period owing to high crude oil production in the U.S, mainly in the states of Texas, North Dakota, and California as well as in the Gulf of Mexico.

Companies Mentioned

  • AET
  • Teekay Corporation
  • Sovcomflot Group
  • Overseas Shipholding Group (OSG)
  • NYK line, Ocean Tankers (pte) Ltd.
  • National Iranian Tanker Company
  • Mitsui O.S.K. Lines, Ltd. (MOL).
  • Maran Tankers Management Inc.
  • Frontline Ltd.
  • Euronav
  • Dynacom Tankers Management Ltd
  • China Shipping Development Corp (CSDC)
  • Bahri

Key Topics Covered:

1 Executive Summary

2 Preface

3 Market Trend Analysis

4 Porters Five Force Analysis

5 Global Crude Oil Carriers Market, By Vessel Type

6 Global Crude Oil Carriers Market, By Geography

7 Key Developments

8 Company Profiling

For more information about this report visit https://www.researchandmarkets.com/research/b2f2n6/global_crude_oil?w=4

Laura Wood, Senior Manager
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Related Topics: Oil

Source: Business Wire (June 15, 2018 - 10:16 AM EDT)

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