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The top 12 tanker shipping companies are listed below
The world merchant shipping fleet different types of vessels. The general cargo type ships lead the share of vessels while tankers are in 2nd Place. As of 1st January 2019, the world tanker fleet had 15,158 ships. This contains crude oil tankers, Chemical/product tankers, and LNG tankers. Hence, tanker shipping plays a major role in the maritime industry.
To give you a clear understanding of tanker shipping, we have mentioned below the top 10 tanker vessel operating company below according to their market revenue.
01. Teekay Corp
Teekay Corp is the largest tanker operator and one of the largest tanker shipping companies in the world. The company was founded in 1973 in Hamilton, Bermuda with the vision of its founder Torben Karlshoej.
The company has started with the second and third-hand vessels and currently, it owns vessels ranging from mid-sized tankers including Suezmax, Aframax, and long-range two vessels (LR2) to carry LNG, LPG, and crude oil.
It has operating offices in Singapore, London, Houston, and Vancouver. Teekay Petrojarl, Omi, Cork Spirit L.L.C. Teekay Shipping Norway As, and Teekay Shipping (Australia) Pty. Ltd. Are a few subsidiaries of Teekay Corporation.
- Revenue: $2 billion
- Market Cap: $268.95 million
- Assets: $2.23 billion
- Headquarters: Hamilton, Bermuda
02. Euronav NV
Euronav is the second-largest tanker operating company in the world. It is a Belgium-based crude oil company having operational offices in Qatar, Switzerland, and Hong Kong.
Euronav’s fleet includes FSOs, V-PLus, VLCCs, and Suezmax vessels flying Belgian, Greek, French, Liberian, and Marshall Islands flags. The company has started operations in 1989 as a subsidiary of Compagnie Nationale de Navigation (CNN). The company has 75 vessels in operation.
- Revenue: $1.4 billion
- Market Cap: $1.63 billion
- Assets: $3.71 billion
- Headquarters: Belgium
03. Scorpio Tankers Inc.
Scorpio Tankers Inc. is the 3rd largest tanker operating company transporting petroleum products worldwide.
The company has owned 128 product tankers (42 LR2 tankers, 12 LR1 tankers, 56 MR tankers including 4 newbuilds and 14 Handymax tankers) and 10 charted vessels (three MR tankers and seven Handymax tankers). Scorpio Tankers Inc is founded in 2009 in Monaco and has an operating office in New York.
STI Supreme Shipping Company Limited, Sting LLC, STI Guard Shipping Company Limited, and Venice Shipping Company Limited are a few subsidiaries of Scorpio tankers.
- Revenue: $958.1 million
- Market Cap: $700.64 million
- Assets: $5.16 billion
- Headquarters: Monaco
04. Frontline Ltd
Frontline Ltd owns 19 VLCC, 29 Suezmax, and 20 Aframax/LR2 vessels flying under the flag of Hong Kong, Michigan, and Libya.
The company was founded in 1985 as Frontline AB. After a merge with London & Overseas Freighters in 1998, the company was renamed Frontline. The company has operating offices in Singapore, London, Glasgow, and Oslo other than the principal office in Bermuda.
- Revenue: $957.3 million
- Market Cap: $1.22 billion
- Assets: $3.134 billion
- Headquarters: Hamilton, Bermuda
05. DHT Holdings
Double Hull Tankers, Inc. is an independent crude oil company commonly known as DHT. DHT has operating offices in Singapore, Monaco, and Oslo.
The company’s tanker fleet includes 27 VLCC vessels operating under Hong Kong and French. The modern ships have been built by the leading ship construction companies including, Daewoo, Hyundai, and Bohai.
- Revenue: $535 million
- Market Cap: $941.10 million
- Assets: $1.68 billion
- Headquarters: Hamilton, Bermuda
06. Tsakos Energy Navigation
Tsakos Energy Navigation is also known as TEN Ltd. Ten is one of the oldest tanker shipping companies in the world and ranks in 6th place revenue-wise. It has a fleet of modern crude and product tankers with strong ice-class capabilities, shuttle tankers, and liquefied natural gas (LNG) vessels.
Currently, the Ten fleet has 64 vessels including 2 VLCC, 13 Suezmax, 20 Aframax/LR2, 11 Panama LR1,17 handymax, 2 LNG, and 3 DP2 shuttles. Tsakos Energy Navigation is also a leader in operating ice-class vessels.
- Revenue: $512.5 million
- Market Cap: $167.14 million
- Assets: $3.156 billion
- Headquarters: Athens, Greece
07. Navios Maritime Holdings
Navios Maritime Holdings is a leading brand name in shipping, being for more than 60 years in the industry. Navios businesses expand to raw materials producing, agricultural trading and exporting, industrial end-users, ship owning, chartering, ship and derivative brokering, agency, and being a financial business partner.
Navios Tankers Management Inc. handles the tanker fleet of the company. Navios operates VLCC, LR1, and LR2 product/chemical tankers. The company generates most of its revenue from the operation in the South American region.
- Revenue: $484.8 million
- Market Cap: $57.17 million
- Assets: $2.142 billion
- Headquarters: Piareas, Greece
09. SFL Corporation Ltd
SFL Corporation Ltd is a Bermuda-based company having a portfolio in oil and gas, container, bulk, and offshore sectors.
SFL has 22 tankers and operating offices in the United Kingdom and Norway. The company was incorporated in 2003 and is currently, 9th largest tanker operating company in the world.
- Revenue: $458.849 million
- Market Cap: $810.08 million
- Assets: $3.7 billion
- Headquarters: Hamilton, Bermuda
10. International Seaways
International Seaways owns and operates a fleet of 36 vessels to transport petroleum products and crude oil worldwide.
Its fleet includes eleven VLCCs, two Suezmaxes, four Aframaxes/LR2s, thirteen Panamaxes/LR1s, and four MR Tankers. International Seaways is a New York-based company established in 2016.
- Revenue: $366.184 million
- Market Cap: $491.42 million
- Assets: $1.712 billion
- Headquarters: New York
Well, you have made it to the end. here is your bonus,
the 11th and 12th largest tanker companies.
11. Overseas Shipholding Group
Overseas Shipholding Group is the 11th largest tanker operating company in the world providing transport services to crude oil and refined petroleum products. The company was founded in Florida, United States in 1948.
Overseas ship holding bankrupted in 2012 and able to develop the business again. Currently, it owns 110 vessels with a capacity of 11 million deadweight tons.
- Revenue: $355.5 million
- Market Cap: $192.53 million
- Assets: $1.23 billion
- Headquarters: Florida, United States
12. Nordic American Tankers
Nordic American Tankers is a Bermuda-based company incorporated in 1995. The company bought its 1st 3 vessels from the Shipbuilder Samsung Heavy Industries and owns 33 vessels at present.
All the tankers are Suezmax size and operate under the flags of Marshall Island, Cayman Islands, Liberia, Bahamas, and Cayman.
Nordic American became active in operation in 2004 after the expiration of the charter contract with British Petroleum of its own vessels.
- Revenue: $317.22 million
- Market Cap: $437.84 million
- Assets: $129.37 million
- Headquarters: Hamilton, Bermuda
You might be interested- Top 10 Chemical tanker shipping companies