The Tanker Market deals with the transport of liquid cargoes – primarily crude oil, refined petroleum products, liquefied gas (LNG, LPG), chemicals, vegetable oils, and even molasses.
Tanker ships are specially designed with secure, compartmentalised tanks and systems for handling pressurised, flammable, or hazardous liquids.
The market includes:
This market is global, fast-paced, and deeply connected to geopolitics, environmental regulations, and economic cycles.
• Tanker owners & operators – e.g., Euronav, Frontline, Teekay
• Oil majors and energy traders – e.g., Shell, TotalEnergies, Vitol, Trafigura
• Charterers and brokers – negotiating voyage or time charters
• Port and terminal operators – with specialised liquid cargo infrastructure
• Classification societies and vetting agencies – ensuring safety and environmental compliance
• Regulators – IMO, MARPOL, and national authorities overseeing pollution control and safety
• Energy transition: the market is adapting to reduced oil demand and growing LNG/LPG trade
• Slow steaming and scrubbers: to reduce emissions and comply with IMO 2020 sulphur cap
• Green fuels: some tankers are testing ammonia and methanol
• Increased vetting & transparency: especially in chemical and gas shipping
• Geopolitical volatility: sanctions, war, and trade routes directly impact tanker demand and pricing
• Digital platforms are emerging for tracking, chartering, and real-time emissions reporting
Tanker shipping is essential to the energy security of nations.
It carries over 60% of the world’s oil and gas. Without it, planes wouldn’t fly, cars wouldn’t move, factories would halt, and many homes would be cold. It’s also a highly volatile market – sensitive to political tensions, OPEC decisions, environmental disasters, and market speculation.
Crude and gas routes include Middle East-Asia, West Africa-Europe, and US Gulf-Europe/Asia.
Important tanker ports are Ras Tanura, Rotterdam, Houston, Fujairah, Singapore, and Yokohama.
This market is crucial for:
It’s a high-stakes, high-value part of the maritime world – not always visible, but always vital.
The largest oil tankers, called ULCCs (Ultra Large Crude Carriers), can carry over 3 million barrels of oil – enough to supply an entire country for several days. A single LNG tanker can carry enough gas to power Tokyo for a week.
What role will tanker shipping play in a world shifting away from fossil fuels – and how can this sector evolve responsibly?
