Crude Oil Carriers Market Study By Type, Trends & Applications Till
2022
The factors that propel the growth of the global Crude Oil Carriers
Market include high demand of oil all over the globe, expansions of
refineries, high demand for transportation as well as benefits in
transporting bulk liquid, etc.
Crude Oil is considered as one of the most essential natural resource. It has several applications in a
variety of fields like it is utilized to drive machinery, generate heat and also to fuel vehicles. On the
other hand, its components are utilized for production of plastics, paints, chemicals, etc. An oil tanker,
also referred to as a petroleum tanker, is a ship especially designed for the purpose of oil in bulk
amounts. There are basically two different types of oil tankers namely crude tankers or crude oil
carriers and product tankers. Crude tankers or crude oil carriers move huge amounts of unrefined
crude oil from the place of extraction to refineries. These tankers or carriers are usually large in size
as well as the journeys are mostly longer in length; whereas, the product tankers are referred to those
tankers that are considerably smaller in size as compared to that of the crude tankers and specifically
designed to transport refined products to the consumer markets.
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