The 5 largest oil tanker companies

Oil tanker companies specialize in transporting and storing crude oil. The business includes companies that own, operate or lease various types of oil tankers and facilities. Crude tankers transport volumes of crude oil from oil extraction facilities to oil refineries, while product tankers transport refined products to facilities where they will be sold to end consumers, and 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. The oil price war between Russia and Saudi Arabia and the impact of COVID-19 sent oil prices down as oversupply flooded the market. As demand for oil evaporated, demand for oil storage soared. Oil companies that offer storage benefited from this demand and their stocks got a healthy boost.,,

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

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

Teekay is a Canadian-based holding company that provides international marine transportation services for crude oil and natural gas. It also offers offshore oil production, storage and offloading services under both long-term and fixed contracts. Two of its subsidiaries, Teekay Tankers Ltd. (TNK) and Teekay LNG Partners LP (TGP), trade separately under their own tickers. The revenue and market capitalization figures reported above for Teekay include these two subsidiaries. TNK provides separate exposure to conventional crude 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 capitalization: $3.4 billion
  • Stock Market: New York Stock Exchange

Euronav is a company based in Belgium that deals in the transportation and storage of crude oil. It provides shipping services for the marine transportation of crude oil through its tanker division. 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 capitalization: $2.3 billion
  • Stock Market: New York Stock Exchange

Scorpio Tankers is a shipping company based in Monaco that went public in 2010. It provides marine transportation of petroleum products around the world. The company operates through four divisions representing different types of vessels. The company manages over 100 ships.

  • Revenue (TTM): $772 million
  • Net income (TTM): -$8.9 million
  • Market capitalization: $2.7 billion
  • Stock Market: 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 crude oil and petroleum products. Frontline was created through a series of major restructurings, mergers and acquisitions over the past decade.

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

DHT is an independent Bermuda-based crude oil tanker company providing transportation services to oil companies. The company manages a fleet of crude oil tankers through integrated management companies located in Monaco, Singapore and Norway.

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