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Published Date: 2016-03-11Number of Pages: 112

Crude Oil Carriers Market, by Vessel Type (VLCC/ULCC, Suezmax, Aframax, and Panamax) - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2016 - 2024

Shipping of petroleum liquids such as crude oil comprises many different operations, each of which signifies a potential source of evaporation loss. Crude oil is transported from production facilities to refineries by crude oil carriers, rail tank cars, barges, pipelines, and tank trucks. Coastal tank vessel trades are functioned by crude carriers, tank barges, and product tankers. Crude oil carriers are generally referred to as oil tankers which transport crude oil from one location to another. Oil tankers are designed for bulk transportation of oil. Tanker shipping provides a convenient way of transporting bulk liquid for international seaborne trade. Transportation rates in the shipping industry are determined by time charter equivalent. Oil tankers have become an integral part of the transportation process.

Safe marine transportation involves several factors. Among these include crew training and competencies, management policies and procedures, vessel design and maintenance, port regulatory and infrastructure oversight. The supply of crude oil carrier shipping operates under perfect competition is characterized by several conditions such as number of shipping service providers and availability of information. Numerous ship owners operate crude oil carriers and offer petroleum liquids shipping services. In the crude oil carriers market, information on freight rate can be examined through the Baltic Index. Therefore, shipping service providers cannot influence freight rates. Obstacles to entry to and exit from the crude oil shipping industry exist as these challenges can be managed. Ship owners have additional procedures in place to ensure secure, reliable and environmentally responsible operations.       
   
The crude oil carriers market has been segmented on the basis of vessel type and region. In terms of vessel type, VLCC and ULCC together held about 63% share in 2015; a large number of VLCCs are in operation compared to rest of the vessel types. Suezmax accounted for nearly 14% of the crude oil carriers market in 2015. Aframax accounted for nearly 21% and Suezmax accounted for the rest 2% of the crude oil carriers market in that year.   

The crude oil carriers market has been segmented into four regions: North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific held the largest share of 41% of the crude oil carriers market in 2015. Several countries in Asia Pacific, such as China, Japan, Malaysia, and South Korea, own and operate majority of crude oil carriers. In Europe, Greece alone owns and operates 17% of the crude oil carriers globally in 2015.     

In 2015, shipping rates for the some of the largest carriers, including ULCCs and VLCCs, transporting crude oil to Asia Pacific peaked at just above US$ 90,000 a day. This was a result of countries such as China storing low cost crude oil. Crude oil carriers also became a medium of floating storage as some energy traders and companies stored their crude oil supplies, in case the futures price was higher than the spot price. Majority of the demand for crude oil carriers is generated from Asia Pacific, particularly China despite its slowing economy. Crude oil from South America or West Africa is transported to Asia Pacific, as the consumption in the U.S. has reduced due to less imported crude oil due to the shale oil boom.    

Demand for crude oil carrier majorly depends on oil product consumers, crude oil production, and refining facilities. The cargo carrying capacity of a crude oil carrier is 90%–95% of its deadweight capacity, depending on the distance to the succeeding bunkering port. Long haul crude oil generates an incentive to build large-sized crude oil carriers. This is expected to lower shipping costs through economies of scale up to the largest carrier such as ultra large crude carriers (ULCC). 

crude-oil-carriers-market

 

Section 1 Preface

  • Report Description
  • Market Segmentation
  • Research Scope
  • Research Methodology

Section 2 Executive Summary

  • Executive Summary

Section 3 Industry Analysis

  • Introduction
  • Value Chain Analysis
  • Market Dynamics
    • Market Drivers
    • Market Restrains
    • Market Opportunities
  • Porter’s Five Forces Analysis
    • Bargaining Power of Suppliers
    • Bargaining Power of Buyers
    • Threat of Substitutes
    • Threat of New Entrants
    • Degree of Competition
  • Company Market Share- Crude Oil Carriers Market, 2014
  • Market Attractiveness Analysis- Crude Oil Carriers Market, By Region 

Section 4 Global Crude Oil Carriers Market – Vessel Type, by Volume and Revenue, 2014 – 2024 (Units) (US$ Bn)

  • Overview
  • VLCC/ULCC
  • Suezmax
  • Aframax
  • Panamax

Section 6 Global Crude Oil Carriers Market – Regional Analysis by Volume and Revenue, 2014 – 2024 (Units) (US$ Bn)

  • Regional Overview
  • North America
    • Overview
    • Countries
      • U.S. Crude Oil Carriers Market by Vessel Type Segment
      • Rest of North America Crude Oil Carriers Market by Vessel Type Segment
  • Europe
    • Overview
    • Countries
      • Greece Crude Oil Carriers Market by Vessel Type Segment
      • Belgium Crude Oil Carriers Market by Vessel Type Segment
      • Rest of Europe Crude Oil Carriers Market by Vessel Type Segment
  • Asia Pacific
    • Overview
    • Countries
      • China Crude Oil Carriers Market by Vessel Type Segment
      • South Korea Crude Oil Carriers Market by Vessel Type Segment
      • Singapore Crude Oil Carriers Market by Vessel Type Segment
      • Japan Crude Oil Carriers Market by Vessel Type Segment
      • Malaysia Crude Oil Carriers Market by Vessel Type Segment
      • Rest of Asia Pacific Crude Oil Carriers Market by Vessel Type Segment
  • Rest Of World
    • Overview
    • Countries
      • Iran Crude Oil Carriers Market by Vessel Type Segment
      • Saudi Arabia Crude Oil Carriers Market by Vessel Type Segment
      • Others Crude Oil Carriers Market by Vessel Type Segment

Section 7 Company Profiles

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

List of Figures

Figure 1. Global Crude Oil Carriers Market, Estimates and Forecast, by Volume and Revenue, 2014–2024 (US$ Bn)
Figure 2. Global Crude Oil Carriers Market, Global Market Share
Figure 3. Global Crude Oil Carriers Market, Company Market Share (%) (2014)
Figure 4. Market Attractiveness, Crude Oil Carriers Market
Figure 5. Global Crude Oil Carriers, Market Share by Vessel Type Segment, 2014
Figure 6. Global Crude Oil Carriers, Market Share by Vessel Type Segment, 2024
Figure 7. Global Crude Oil Carriers Market, Vessel Type Segment, By Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 8. Global Crude Oil Carriers Market, VLCC/ULCC, By Volume and Revenue, 2014–2024  (Units) (US$ Bn)
Figure 9. Global Crude Oil Carriers Market, Suezmax, By Volume and Revenue, 2014–2024  (Units) (US$ Bn)
Figure 10. Global Crude Oil Carriers Market, Aframax, By Volume and Revenue, 2014–2024  (Units) (US$ Bn)
Figure 11. Global Crude Oil Carriers Market, Panamax, By Volume and Revenue, 2014–2024  (Units) (US$ Bn)
Figure 12. Global Crude Oil Carriers Market, By Region, 2014 and 2024
Figure 13. North America Crude Oil Carriers Market Share, by Country, 2014 and 2024
Figure 14. North America Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 15. U.S. Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 16. U.S. Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 17. Rest of North America Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 18. Rest of North America Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 19. Europe Crude Oil Carriers Market, By Country, 2014 and 2024
Figure 20. Europe Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 21. Greece Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 22. Greece Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 23. Belgium Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 24. Belgium Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 25. Rest of Europe Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 26. Rest of Europe Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 27. Asia Pacific Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 28. China Crude Oil Carriers Market, by Volume and Revenue, 2013–2024 (Units) (US$ Bn)
Figure 29. China Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 30. South Korea Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 31. South Korea Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 32. Singapore Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 33. Singapore Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 34. Japan Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 35. Japan Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 36. Malaysia Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 37. Malaysia Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 38. Rest of Asia Pacific Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 39. Rest of Asia Pacific Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 40. Rest of the World Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 41. Iran Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 42. Iran Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 43. Saudi Arabia Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 44. Saudi Arabia Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)
Figure 45. Others Crude Oil Carriers Market, by Volume and Revenue, 2014–2024 (Units) (US$ Bn)
Figure 46. Others Crude Oil Carriers Market, by Vessel Type, 2014–2024 (Units) (US$ Bn)

This research study analyzes the market for crude oil carriers both in terms of volume (units) and revenue (US$ Bn). The crude oil carriers market has been segmented on the basis of vessel type and geography. In terms of region, the market has been divided into four segments that comprise 10 countries, which are the major players in the global crude oil carriers market. For the research, 2015 has been taken as the base year, while all forecasts have been given for the period from 2016 to 2024. Market data for all the segments has been provided at the regional as well as country-specific level from 2016 to 2024. The report provides a broad competitive analysis of companies engaged in the crude oil shipping business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the global crude oil shipping market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the global crude oil carriers market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and market profitability. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition. 

The high-level analysis in the report provides detailed insights into the crude oil shipping business globally. There are currently numerous drivers of the market. Some of the most prominent drivers are declining crude oil prices proving to be beneficial for the crude oil carriers market and world economy influencing the demand for crude oil transportation. Market attractiveness analysis was carried out for the crude oil carriers market on the basis of geography. Market attractiveness was estimated on the basis of common parameters that directly impact the crude oil carriers market in different regions. The parameters include shipping costs, government policies, crude oil demand, and applications such as automobile.  

Shipping of petroleum liquids such as crude oil comprises many different operations, each of which signifies a potential source of evaporation loss. Crude oil is transported from production facilities to refineries by crude oil carriers, rail tank cars, barges, pipelines, and tank trucks. Coastal tank vessel trades are functioned by crude carriers, tank barges, and product tankers. Crude carriers serve the West Alaska coast crude oil trades. Crude oil carriers are generally referred to as oil tankers, which transport crude oil from one location to another. 

The crude oil carriers market was segmented on the basis of vessel type (VLCC/ULCC, Suezmax, Aframax, and Panamax). The crude oil carriers market was analyzed across four geographies: North America, Asia Pacific, Europe, and Rest of the World. Regional data has been provided for each sub-segment of the crude oil carriers market. Key players in the crude oil carriers market include AET Tanker Holdings Sdn Bhd, The National Shipping Company of Saudi Arabia (Bahri), China Shipping Development Corp (CSDC), Dynacom Tankers Management Ltd., Euronav, Frontline Ltd., Maran Tankers Management Inc., National Iranian Tanker Company, NYK line, Ocean Tankers (pte) Ltd., OMAN SHIPPING COMPANY S.A.O.C., Overseas Shipholding Group (OSG), Sovcomflot Group, and Teekay Corporation. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.

Crude Oil Carriers Market: By Vessel Type

  • VLCC/ULCC
  • Suezmax
  • Aframax
  • Panamax 

Crude Oil Carriers Market: By Region

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • Greece
    • Belgium
    • Rest of Europe
  • Asia Pacific
    • China
    • South Korea
    • Singapore
    • Japan
    • Malaysia
    • Rest of Asia Pacific
  • Rest of World
    • Iran
    • Saudi Arabia
    • Others


 
 
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