News on market Crude Oil Carriers Market | Página 2

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. On the other hand, there are also factors that hamper the growth of the
global Crude Oil Carriers Market such as time taken to unload the crude oil. The global Crude Oil
Carriers Market is classified on the basis of vessel type and geography. On the basis of vessel type,
the global Crude Oil Carriers Market is classified as VLCC, ULCC, Suezmax, Aframax and
Panamax. Amongst the vessel type, “VLCC” and “ULCC” type of vessel together accounted for a major
share of the global Crude Oil Carriers Market in 2015. “VLCC” and “ULCC” type of vessel is followed
by Aframax, Suezmax, and then Panamax. However, in consideration to all types of vessels, a huge
number of VLCCs are in use as compared to the other vessel types.
VLCC or Very Large Crude Carriers and ULCC or Ultra Large Crude Carriers are the major operating
cargo vessels across the globe. They consist of a size in excess of 250,000 Dead Weight Tonnage
(DWT).These huge ships are having the capability of transporting enormous volume of crude oil in a
single journey. They are also referred to as “Super tankers”. These vessels are mainly utilized in order
to transport long-haul crude from the Persian Gulf to countries in Europe, Asia and North America.
On the basis of geography, the global Crude Oil Carriers Market is classified as North America, Europe,
Asia Pacific, and Rest of the World. The North American region comprises U.S. and Rest of North
America. The European region comprises Greece, Belgium, and Rest of Europe. The Asia Pacific region
comprises China, South Korea, Singapore, Japan, Malaysia, and Rest of Asia Pacific. Rest of World
comprises Iran, Saudi Arabia, and Others.
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In case of geography, Asia Pacific accounted for the major share of 41% of the global Crude Oil Carriers
Market in 2015.In the Asia Pacific market, China presented a noteworthy share in spite of the sluggish
economic growth. Some of the prominent players that fuel the growth of the global 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.