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5 largest oil tankers

by SuperiorInvest

Oil tanker companies specialize in the transportation and storage of crude oil. The business includes companies that own, operate or lease various types of oil tankers and equipment. Crude tankers they transport large volumes of crude oil from oil production facilities to oil refineries, while product tankers transport refined products to facilities where they will be sold to final consumers, and oil tankers are used to refuel ships at sea.

One type of tanker that became particularly important in the early 2020s was the old, decommissioned oil tankers used as floating storage units. Oil price war between Russia and Saudi Arabia and the impact of COVID-19 have led to a drop in oil prices as oversupply has flooded the market. As demand for oil evaporated, demand for oil storage skyrocketed. Companies offering oil tanker storage have profited from this demand and their inventories have increased healthily.

These are the top 5 oil tanker companies in the last 12 months (TTM) revenues. Some non-US companies report earnings semi-annually instead of quarterly, so 12-month data may be older than for companies that report quarterly. This list is limited to companies that are publicly traded in the US and Canada, either directly or through ADR. Data courtesy of YCharts.com.All data is as of September 8.

  • Revenue (TTM): $838 million
  • Net income (TTM): -$14 million
  • Market capitalization: $376 million
  • Exchange: New York Stock Exchange

Teekay is a Canadian investment holding company that provides international marine transportation of oil and gas. It also offers offshore oil extraction, storage and offloading services under both long-term and fixed-rate contracts. Two of its subsidiaries, Teekay Tankers Ltd. (TNK) and Teekay LNG Partners LP (TGP), trade separately under their own tickers. The sales and market capitalization figures shown above for Teekay include these two subsidiaries. TNK provides separate exposure to conventional oil tankers and product carriers, while TGP provides investors with separate exposure to LNG and LPG carriers. TK provides exposure to both.

  • Revenue (TTM): $475 million
  • Net income (TTM): -$226 million
  • Market cap: $3.4 billion
  • Exchange: New York Stock Exchange

Euronav is a Belgian oil transportation and storage company. It provides shipping services for marine transportation of crude oil through its tanker segment. It receives hydrocarbon liquids pumped from nearby offshore platforms and provides field storage through its floating, production, storage and offloading operating segments. Euronav also provides crew, ship and fleet management services.

  • Revenue (TTM): $846 million
  • Net income (TTM): -$12.6 million
  • Market cap: $2.3 billion
  • Exchange: New York Stock Exchange

Scorpio Tankers is a maritime company based in Monaco that went public in 2010. It provides marine transportation of petroleum products worldwide. The company operates through four segments representing different types of ships. The company operates more than 100 vessels.

  • Revenue (TTM): $772 million
  • Net income (TTM): -$8.9 million
  • Market cap: $2.7 billion
  • Exchange: New York Stock Exchange

Frontline is an international shipping company based in Bermuda that owns and operates oil and product tankers. The company also provides marine transportation of oil and oil products. Frontline has been shaped by a number of significant restructurings, mergers and acquisitions over the past decade.

  • Revenue (TTM): $319 million
  • Net income (TTM): -$31.5 million
  • Market cap: $1.3 billion
  • Exchange: New York Stock Exchange

DHT is an independent oil tanker company based in Bermuda that provides transportation services to oil companies. The company operates a fleet of oil tankers through integrated management companies based in Monaco, Singapore and Norway.

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