Logistics of crude oil & petroleum products - The different types of tankers by WR Training

Summary

The video provides an insightful overview of oil tanker classifications based on deadweight tonnage, detailing four main categories: ULCCs, VLCCs, Suezmax, and Aframax. ULCCs are the largest, carrying up to 4.5 million barrels of crude oil, while VLCCs and Suezmax tankers serve key international routes. Aframax tankers are vital for regional transport. The current tanker fleet is primarily owned by independent ship owners, with a significant proportion aging, reflecting shifts in the oil industry since the 1973 oil shock and a surplus of shipping capacity leading to mothballed vessels.

Takeaways

• 🚢 ULCCs (Ultra Large Crude Oil Carriers) can carry between 325,000 and 600,000 deadweight tons, equivalent to 2.5 to 4.5 million barrels of crude oil.
• 📉 Many ULCCs commissioned in the 1970s have been scrapped or laid up due to changes in the oil industry after the oil shocks.
• 🌍 VLCCs (Very Large Crude Oil Carriers) are tankers with more than 160,000 deadweight tons, primarily used for routes from the Arabian Gulf to the Caribbean, United States, Europe, and Southeast Asia.
• 🛳️ Suezmax tankers, with capacities between 100,000 and 160,000 deadweight tons, can transit the Suez Canal fully laden.
• 🔄 Aframax tankers range from 80,000 to 100,000 deadweight tons, used for regional movements to the North Sea, Mediterranean, Caribbean, and U.S.
• 📊 The global tanker fleet is primarily composed of smaller petroleum product tankers, which hold the largest share of the fleet.
• 🛠️ Approximately two-thirds of the world's tanker fleet is owned by independent ship owners, with a declining share owned by major oil companies.
• 📉 Following the first oil shock in 1973, the proportion of tankers owned by national companies increased, while the major oil companies' share fell.
• ⚓ The global tanker fleet is aging, with 30% of ULCCs and 20% of Suezmax tankers over 20 years old.
• 💸 Freight rates for tankers were historically low in the early 1980s, leading to financial struggles for ship owners.

Q & A

What are the three main categories of oil tankers classified by deadweight tonnage?

The three main categories are Ultra Large Crude Carriers (ULCCs), Very Large Crude Carriers (VLCCs), and Suezmax tankers.

What is the deadweight tonnage range for ULCCs?

ULCCs have a deadweight tonnage of between 325,000 and 600,000.

How much crude oil can ULCCs carry?

ULCCs can carry between 2.5 and 4.5 million barrels of crude oil.

What impact did the oil shocks of the 1970s have on super tankers?

Many super tankers commissioned in the 70s did not survive the changes in the oil industry and were either laid up or scrapped.

What is the purpose of VLCCs and where do they typically transport oil?

VLCCs, with more than 160,000 deadweight tonnage, transport oil primarily from the Arabian Gulf to the Caribbean, the United States, Europe, and Southeast Asia.

What distinguishes Suezmax tankers from other categories?

Suezmax tankers have a deadweight tonnage between 100,000 and 160,000 and are capable of transiting the Suez Canal fully laden.

What is the deadweight tonnage range for Aframax tankers?

Aframax tankers have a deadweight tonnage between 80,000 and 100,000.

What is the significance of the size of the tanker fleet owned by independent ship owners?

Independent ship owners own about two-thirds of the world fleet, indicating their dominance in the shipping market.

What trend has been observed regarding the ownership of the world tanker fleet since the first oil shock in 1973?

The proportion of tankers owned by major oil companies has fallen, while the ownership share of national companies has risen.

What percentage of the ULCCs and Suezmax tankers are more than 20 years old?

Approximately 30% of ULCCs and 20% of Suezmax tankers are more than 20 years old, indicating an aging fleet.