10 Largest Oil Tanker Companies in the World
Despite the growing contribution of renewables to global energy consumption, the global market remains highly dependent on oil. As of April 2020, the global fleet included 810 very large crude carriers
According to Statista, the capacity of the world's oil tanker fleet increased significantly from 1980 to 2020 by more than 77%. Despite the growing contribution of renewables to global energy consumption, the global market remains highly dependent on oil. In 2020, the world's oil tanker fleet had a deadweight of approximately 601 million tons. The various types of oil tankers are categorized by fleet size: VLCC, Suezmax and Aframax. As of April 2020, the global fleet included 810 very large crude carriers. Since oil is the most widely used source of energy, the growing demand for energy is driving the drilling and transportation of oil.
Read alsoThe Review of Maritime Transport 2020: pandemic cuts global maritime trade and transforms the shipping industry.
Read alsoThe Review of Maritime Transport 2020: pandemic cuts global maritime trade and transforms the shipping industry.
Let's start the review of the biggest oil tanker companies in the world starting at number 10
10. International Seaways
Revenue: $366.184 million
Market Cap: $491.42 million
Assets: $1.712 billion
Number of employees: 1,642
Headquarters: New York, NY
International Seaways, Inc. is one of the largest tanker companies in the world providing energy transportation services for crude oil and petroleum products. The oil tanker company owns and operates a fleet of 36 vessels, including 11 VLCCs, 2 Suezmax, 4 Aframax, 13 Panamax and 4 MR Tankers. International Seaways partially owns floating storage and offloading vessels.
Market Cap: $491.42 million
Assets: $1.712 billion
Number of employees: 1,642
Headquarters: New York, NY
International Seaways, Inc. is one of the largest tanker companies in the world providing energy transportation services for crude oil and petroleum products. The oil tanker company owns and operates a fleet of 36 vessels, including 11 VLCCs, 2 Suezmax, 4 Aframax, 13 Panamax and 4 MR Tankers. International Seaways partially owns floating storage and offloading vessels.
9. SFL Corp Ltd
Revenue: $458.849 million
Market Cap: $810.08 million
Assets: $3.7 billion
Number of employees: 50
Headquarters: Hamilton, Bermuda
SFL Corporation Ltd is one of the largest oil tanker companies in the world with a fleet of approximately 84 vessels such as crude oil tankers, bulk carriers and ore carriers, bulk carriers and container ships. Other sources of income for SFL Corp Ltd include chartering, buying and selling assets. The company established operations through subsidiaries located in Bermuda, Cyprus, Malta, Liberia, Norway, Great Britain and the Marshall Islands.
Market Cap: $810.08 million
Assets: $3.7 billion
Number of employees: 50
Headquarters: Hamilton, Bermuda
SFL Corporation Ltd is one of the largest oil tanker companies in the world with a fleet of approximately 84 vessels such as crude oil tankers, bulk carriers and ore carriers, bulk carriers and container ships. Other sources of income for SFL Corp Ltd include chartering, buying and selling assets. The company established operations through subsidiaries located in Bermuda, Cyprus, Malta, Liberia, Norway, Great Britain and the Marshall Islands.
8. Navios Maritime Holdings
Revenue: $484.8 million
Market Cap: $57.17 million
Assets: $2.142 billion
Number of employees: 250
Headquarters: Piareas, Greece
Navios Maritime Holdings Inc. ("Navios") is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. Navios was created in 1954 by US Steel to transport iron ore to the US and Europe. Since then, Navios has diversified geographically and expanded the scope of its business activities such that Navios currently controls 49 vessels totaling approximately 5.1 million deadweight tons.
NM is ranked 8th on our list of the largest oil tankers in the world. Navios Maritime controls a large fleet of crude oil, petroleum products and chemical tankers providing global shipping services. Navios is one of the world's leading shipping brands specializing in the global transport, trade, storage and related logistics of international bulk cargo. The oil tanker company operates a large group of bulk carriers Capesize, Panamax, Ultra-Handymax and Handysize using their own, chartered and leased vessels. Regionally, most of the company's revenue comes from South America.
Market Cap: $57.17 million
Assets: $2.142 billion
Number of employees: 250
Headquarters: Piareas, Greece
Navios Maritime Holdings Inc. ("Navios") is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. Navios was created in 1954 by US Steel to transport iron ore to the US and Europe. Since then, Navios has diversified geographically and expanded the scope of its business activities such that Navios currently controls 49 vessels totaling approximately 5.1 million deadweight tons.
NM is ranked 8th on our list of the largest oil tankers in the world. Navios Maritime controls a large fleet of crude oil, petroleum products and chemical tankers providing global shipping services. Navios is one of the world's leading shipping brands specializing in the global transport, trade, storage and related logistics of international bulk cargo. The oil tanker company operates a large group of bulk carriers Capesize, Panamax, Ultra-Handymax and Handysize using their own, chartered and leased vessels. Regionally, most of the company's revenue comes from South America.
7. Tsakos Energy Navigation
Revenue: $512.5 million
Market Cap: $167.14 million
Assets: $3.156 billion
Number of employees: 3,500
Headquarters: Athens, Greece
TNP is ranked 7th on our list of the largest oil tankers in the world. Tsakos Energy Navigation is one of the largest and oldest independent energy carriers in the world with a dynamic fleet of 64 modern high-capacity crude oil and oil products tankers, shuttle tankers and liquefied natural gas (LNG) carriers. The company continues to grow to become one of the largest ice-class tanker operators in the world among the major international oil companies. Tsakos Energy Navigation operates worldwide, including Greece, the Philippines, Ukraine, Russia and Romania.
Market Cap: $167.14 million
Assets: $3.156 billion
Number of employees: 3,500
Headquarters: Athens, Greece
TNP is ranked 7th on our list of the largest oil tankers in the world. Tsakos Energy Navigation is one of the largest and oldest independent energy carriers in the world with a dynamic fleet of 64 modern high-capacity crude oil and oil products tankers, shuttle tankers and liquefied natural gas (LNG) carriers. The company continues to grow to become one of the largest ice-class tanker operators in the world among the major international oil companies. Tsakos Energy Navigation operates worldwide, including Greece, the Philippines, Ukraine, Russia and Romania.
6. DHT Holdings
Revenue: $535 million
Market Cap: $941.10 million
Assets: $1.68 billion
Number of employees: 15
Headquarters: Hamilton, Bermuda
DHT is an independent oil tanker that provides services to oil companies and operates a fleet of crude oil tankers in the VLCC, Aframax and Suezmax segments internationally. The company has established operations through an integrated management in Singapore, Norway and Monaco. Their fleet of 27 VLCCs had a capacity of 8,360,850 DWT in the first quarter of 2020.
Market Cap: $941.10 million
Assets: $1.68 billion
Number of employees: 15
Headquarters: Hamilton, Bermuda
DHT is an independent oil tanker that provides services to oil companies and operates a fleet of crude oil tankers in the VLCC, Aframax and Suezmax segments internationally. The company has established operations through an integrated management in Singapore, Norway and Monaco. Their fleet of 27 VLCCs had a capacity of 8,360,850 DWT in the first quarter of 2020.
5. Frontline Ltd
Revenue: $957.3 million
Market Cap: $1.22 billion
Assets: $3.134 billion
Number of employees: 70
Headquarters: Hamilton, Bermuda
Frontline Ltd. is one of the largest shipping companies engaged in the sea transportation of crude oil and petroleum products around the world. Frontline has 24 very large oil tankers, 28 Suezmax tankers and 20 Aframax aircraft, with an average age of just 4 years. Frontline was formed as a result of a series of major restructurings, mergers and acquisitions over the past decade. His main business is the transportation of crude oil. As of 2008, the company had one of the largest tanker fleets in the world, consisting of VLCC, Suezmax and Suezmax OBO vessels (82 tankers in total and 18 more on order).
Market Cap: $1.22 billion
Assets: $3.134 billion
Number of employees: 70
Headquarters: Hamilton, Bermuda
Frontline Ltd. is one of the largest shipping companies engaged in the sea transportation of crude oil and petroleum products around the world. Frontline has 24 very large oil tankers, 28 Suezmax tankers and 20 Aframax aircraft, with an average age of just 4 years. Frontline was formed as a result of a series of major restructurings, mergers and acquisitions over the past decade. His main business is the transportation of crude oil. As of 2008, the company had one of the largest tanker fleets in the world, consisting of VLCC, Suezmax and Suezmax OBO vessels (82 tankers in total and 18 more on order).
4. Scorpio Tankers Inc.
Revenue: $958.1 million
Market Cap: $700.64 million
Assets: $5.16 billion
Number of employees: 19
Headquarters: Monaco
Scorpio Tankers is the world leader in the transportation of petroleum products. Scorpio Tankers owns and operates a first class tonnage consisting of the latest generation of fuel efficient tankers from high quality shipyards. Scorpio Tankers currently maintains or finances 128 product tankers and a time charter or bareboat charter of 10 product tankers.
Market Cap: $700.64 million
Assets: $5.16 billion
Number of employees: 19
Headquarters: Monaco
Scorpio Tankers is the world leader in the transportation of petroleum products. Scorpio Tankers owns and operates a first class tonnage consisting of the latest generation of fuel efficient tankers from high quality shipyards. Scorpio Tankers currently maintains or finances 128 product tankers and a time charter or bareboat charter of 10 product tankers.
3. Euronav NV
Revenue: $1.4 billion
Market Cap: $1.63 billion
Assets: $3.71 billion
Number of employees: 3,110
Headquarters: Antwerp, Belgium
Euronav provides comprehensive transport services to complement its large tanker fleet. The company is the successor to the owner of the tanker European Navigation Company Ltd, an Isle of Man company registered by the Compagnie Nationale de Navigation (CNN), at the time a subsidiary of the Worms Group. In 1995, European Navigation Company Ltd sold the vessels, subsidiaries, crewing and technical, management companies and the reputation of Euronav Luxembourg NV to form a joint venture between CNN and Compagnie Maritime Belge (CMB). In 1997, CMB acquired CNN and transferred Euronav Luxembourg NV into full ownership of CMB. Thus, Euronav became a fully owned tanker division of CMB.
Euronav is a Belgian independent crude oil transportation and storage company. It provides services for the transportation of crude oil by sea through its tanker segment. In addition to its fleet of large tankers, Euronav is known for providing cargo transportation services. The company's ship management services include, but are not limited to, technical services, fleet management, environmental protection, defense management, commercial and operational management.
Market Cap: $1.63 billion
Assets: $3.71 billion
Number of employees: 3,110
Headquarters: Antwerp, Belgium
Euronav provides comprehensive transport services to complement its large tanker fleet. The company is the successor to the owner of the tanker European Navigation Company Ltd, an Isle of Man company registered by the Compagnie Nationale de Navigation (CNN), at the time a subsidiary of the Worms Group. In 1995, European Navigation Company Ltd sold the vessels, subsidiaries, crewing and technical, management companies and the reputation of Euronav Luxembourg NV to form a joint venture between CNN and Compagnie Maritime Belge (CMB). In 1997, CMB acquired CNN and transferred Euronav Luxembourg NV into full ownership of CMB. Thus, Euronav became a fully owned tanker division of CMB.
Euronav is a Belgian independent crude oil transportation and storage company. It provides services for the transportation of crude oil by sea through its tanker segment. In addition to its fleet of large tankers, Euronav is known for providing cargo transportation services. The company's ship management services include, but are not limited to, technical services, fleet management, environmental protection, defense management, commercial and operational management.
2. Teekay Corp
Revenue: $2 billion
Market Cap: $268.95 million
Assets: $2.23 billion
Number of employees: 6,800
Headquarters: Hamilton, Bermuda
Teekay is a Canadian company specializing in crude oil, LNG and LPG tankers. Teekay is one of the largest medium-sized tanker operators including Suezmax, Aframax and long-range vessels (LR2). Teekay currently owns a $ 12 billion network, including gas and oil tankers and offshore facilities, headquartered in Canada, London, the Bahamas, Bermuda and Singapore. Teekay operates several Floating Storage and Offloading Facilities (FPSOs) under its North Sea subsidiary Teekay Petrojarl. In addition to operating world class oil tankers, Teekay offers services such as basin management, fuel services and tanker management.
Teekay was founded in 1973 by Torben Karlshoy, a 31-year-old Danish ship broker who emigrated to the United States at the age of 20 and mainly worked on farms. The company was named "TK" after Karlshoy's initials. The company began with the purchase of small used and second-hand oil tankers, which was a lucrative deal due to the high oil prices during the 1973-1974 oil crisis. The company's head office was located in the Bahamas, which allowed it to enjoy low corporate taxes. Most of her ships were registered in Liberia, which allowed her to take advantage of the relatively low taxes and the ability to hire seafarers from around the world. The company grew in the 1980s, operating in the perilous waters of the Persian Gulf during the Iran-Iraq War.
Market Cap: $268.95 million
Assets: $2.23 billion
Number of employees: 6,800
Headquarters: Hamilton, Bermuda
Teekay is a Canadian company specializing in crude oil, LNG and LPG tankers. Teekay is one of the largest medium-sized tanker operators including Suezmax, Aframax and long-range vessels (LR2). Teekay currently owns a $ 12 billion network, including gas and oil tankers and offshore facilities, headquartered in Canada, London, the Bahamas, Bermuda and Singapore. Teekay operates several Floating Storage and Offloading Facilities (FPSOs) under its North Sea subsidiary Teekay Petrojarl. In addition to operating world class oil tankers, Teekay offers services such as basin management, fuel services and tanker management.
Teekay was founded in 1973 by Torben Karlshoy, a 31-year-old Danish ship broker who emigrated to the United States at the age of 20 and mainly worked on farms. The company was named "TK" after Karlshoy's initials. The company began with the purchase of small used and second-hand oil tankers, which was a lucrative deal due to the high oil prices during the 1973-1974 oil crisis. The company's head office was located in the Bahamas, which allowed it to enjoy low corporate taxes. Most of her ships were registered in Liberia, which allowed her to take advantage of the relatively low taxes and the ability to hire seafarers from around the world. The company grew in the 1980s, operating in the perilous waters of the Persian Gulf during the Iran-Iraq War.
1. Mitsui OSK Lines
Revenue: $10.6 billion
Market Cap: $2.1 billion
Assets: $19.4 billion
Number of employees: 8,941
Headquarters: Tokyo, Japan
Mitsui OSK Lines ranks first in the list of the largest oil tanker companies in the world. Commonly known as MOL, the company is one of the largest shipping companies in the world and operates a fleet of more than 930 vessels with a deadweight of 66 million tons (DWT). The energy transportation segment includes tankers, steam locomotives, coal tankers, gas carriers and offshore companies. The world's largest oil tanker also specializes in the operation of container ships, specialized ships and ferries. Mitsui O.S.K. LLC "Lines" provides transportation, warehousing and cargo handling services. Products transported include coal, iron ore, grain, logs, aluminum, cement, industrial salt, copper ore, wood chips, cars, paper products, chemical products, gasoline, LPG and other goods.
MOL (Mitsui OSK Lines) was founded in 1964 through the merger of Osaka Shosen Kaisha (OSK) (大阪 的 船 株式会社, Osaka Shōsen Kabushiki-gaisha), founded in 1878, and Mitsui Steamship Co., Ltd., founded in 1942, formerly Mitsui Line under the Shipping Industry Reconstruction and Reorganization Act. At that time, the company was the largest shipping company in Japan with a capital of 13.1 billion yen, with 83 vessels with a total deadweight of 1,237 thousand tons (DWT).
In Marine Digital we during the development process have formed 4 solutions that are suitable for charters, shipowners and fleet managers of different types of vessels for:
Read also 15 Biggest Shipping Companies in the World
Read more on Digital Ship
Market Cap: $2.1 billion
Assets: $19.4 billion
Number of employees: 8,941
Headquarters: Tokyo, Japan
Mitsui OSK Lines ranks first in the list of the largest oil tanker companies in the world. Commonly known as MOL, the company is one of the largest shipping companies in the world and operates a fleet of more than 930 vessels with a deadweight of 66 million tons (DWT). The energy transportation segment includes tankers, steam locomotives, coal tankers, gas carriers and offshore companies. The world's largest oil tanker also specializes in the operation of container ships, specialized ships and ferries. Mitsui O.S.K. LLC "Lines" provides transportation, warehousing and cargo handling services. Products transported include coal, iron ore, grain, logs, aluminum, cement, industrial salt, copper ore, wood chips, cars, paper products, chemical products, gasoline, LPG and other goods.
MOL (Mitsui OSK Lines) was founded in 1964 through the merger of Osaka Shosen Kaisha (OSK) (大阪 的 船 株式会社, Osaka Shōsen Kabushiki-gaisha), founded in 1878, and Mitsui Steamship Co., Ltd., founded in 1942, formerly Mitsui Line under the Shipping Industry Reconstruction and Reorganization Act. At that time, the company was the largest shipping company in Japan with a capital of 13.1 billion yen, with 83 vessels with a total deadweight of 1,237 thousand tons (DWT).
In Marine Digital we during the development process have formed 4 solutions that are suitable for charters, shipowners and fleet managers of different types of vessels for:
Read also 15 Biggest Shipping Companies in the World
Read more on Digital Ship
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