Top 30 Companies in Global Tanker Shipping Market (2025–2035): Competitive Analysis and Forecast
RELEASE DATE: Sep 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Tanker Shipping Market Size is projected to Grow from USD 209.4 Billion in 2024 to USD 345.2 Billion by 2035, at a CAGR of 4.65% during the forecast period 2025–2035. The global tanker shipping market has been experiencing steady growth over the years. The growth of this market is driven by various factors such as rising demand for oil and gas, increased production, and exploration activities, as well as the development of the petrochemicals industry.
Introduction
The Global Tanker Shipping Market Size refers to the segment of the maritime transport industry dedicated to carrying liquid cargo such as crude oil, refined petroleum products, chemicals, liquefied natural gas (LNG), and other bulk liquids across international waters. Tanker shipping plays a pivotal role in facilitating global trade and ensuring uninterrupted energy and chemical supply chains. As the backbone of international energy transportation, the market is vital for meeting the growing demand for crude oil and its derivatives, particularly in emerging economies like China and India. The market is witnessing robust growth, driven by rising global energy consumption, expanding petrochemical industries, and increasing international trade volumes. Technological improvements in shipbuilding, eco-friendly designs, and automation improve operating efficiency while adhering to international environmental norms. Strategic investments in port infrastructure boost global trade networks, resulting in shorter turnaround times and more cost-effective operations. Within this context, the hazardous chemical tanker market is particularly essential as it provides specialized tankers intended to carry hazardous and poisonous chemicals under rigorous rules while guaranteeing environmental safety and compliance. Overall, tanker shipping is still a critical component of global economic growth and supply chain stability.
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Tanker Shipping Market Size & Statistics
- The Market Size for Tanker Shipping Was Estimated to be worth USD 209.4 Billion in 2024.
- The Market Size is Going to Expand at a CAGR of 4.65% between 2025 and 2035.
- The Global Tanker Shipping Market Size is anticipated to reach USD 345.2 Billion by 2035.
- Asia Pacific is expected to generate the highest demand during the forecast period in the Tanker Shipping Market
- North America is expected to grow at a significant CAGR during the forecast period in the Tanker Shipping Market.
Regional growth and demand
North America is expected to grow at a significant CAGR during the forecast period in the tanker shipping market. North America is expected to grow at a significant rate due to rising shale oil and gas production, expanding petrochemical exports, and strategic investments in port infrastructure. Increasing energy demand and advanced logistics networks further strengthen the region’s tanker shipping growth prospects.
Asia Pacific is expected to generate the highest demand during the forecast period in the tanker shipping market. Asia Pacific is expected to generate the highest demand due to rapid industrialization, urbanization, and surging energy consumption in countries like China and India. Expanding petrochemical industries, strong manufacturing bases, and growing international trade further drive tanker shipping demand in the region.
Top 10 Trends in the Tanker Shipping Market
- Digitalization & AI
- Blockchain
- Maritime Robotics & Automation
- Green Technology & Alternative Fuels
- Energy-Efficient Integrations
- Market & Operational Trends
- Growth in Chemical Tankers
- Infrastructure Development
- Shifting Trade Patterns
- Cybersecurity
- Crew Welfare
1. Digitalization & AI
Digital technologies and Artificial Intelligence (AI) are revolutionizing tanker operations by providing predictive maintenance, route optimization, and real-time cargo tracking. AI-driven analytics improve decision-making, save operating costs, and increase supply chain visibility, assuring safer and more efficient transportation.
2. Blockchain
Blockchain technology is gaining popularity in tanker transportation because of its capacity to provide transparent, secure, and tamper-proof transaction records. It streamlines documentation, reduces fraud, and simplifies complicated trade processes, therefore increasing confidence and efficiency throughout the marine supply chain.
3. Maritime Robotics & Automation
The tanker sector is being transformed by navigation automation, robotic inspection systems, and self-driving boats. These technologies decrease human error, improve safety during hazardous activities, and increase efficiency in monitoring, maintenance, and cargo handling, minimizing total operating hazards.
4. Green Technology & Alternative Fuels
The desire for sustainability is boosting the use of LNG, biofuels, hydrogen, and ammonia-powered ships. Green technology, such as scrubbers and carbon capture systems, assists in minimizing emissions while also ensuring compliance with International Maritime Organization (IMO) environmental requirements.
5. Energy-Efficient Integrations
Tankers are increasingly being designed with energy-efficient features, hull changes, and modern propulsion systems. These improvements minimize fuel usage, greenhouse gas emissions, and vessel life cycles, meeting both cost-cutting and environmental objectives.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the tanker shipping market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 25 Companies Leading the Tanker Shipping Market
- Mitsui O.S.K. Lines, Ltd.
- China COSCO Shipping Corporation Limited
- Teekay Corporation
- Frontline Ltd.
- Euronav NV
- DHT Holdings, Inc.
- Scorpio Tankers Inc.
- Nordic American Tankers Limited
- Tsakos Energy Navigation Ltd.
- International Seaways, Inc.
- AET Tanker Holdings Sdn Bhd
- Bahri (The National Shipping Company of Saudi Arabia)
- Stena Bulk AB
- Odfjell SE
- Maran Tankers Management Inc.
- Chevron Shipping Company LLC
- Shell International Trading and Shipping Company Limited
- BP Shipping Limited
- Maersk Tankers A/S
- Hafnia Tankers
- Navig8 Group
- Stolt-Nielsen Limited (Stolt Tankers)
- NYK Line (Nippon Yusen Kabushiki Kaisha)
- Camillo Eitzen & Co (Eitzen Group)
- B+H Ocean Carriers Ltd.
1. Mitsui O.S.K. Lines, Ltd. (MOL)
Headquarters: Tokyo, Japan
Mitsui O.S.K. Lines, Ltd. (MOL), based in Tokyo, Japan, serves over 30 countries through regional offices and subsidiaries in Asia, Europe, North America, and Oceania. As one of the world's largest shipping firms, MOL has a diverse fleet that includes crude oil tankers, chemical tankers, LNG carriers, and bulk ships, allowing it to meet a wide range of global marine transport requirements. The firm plays an important role in international energy and commodities logistics, delivering dependable, efficient, and safe transportation solutions while ensuring compliance with demanding environmental and safety laws throughout its global operations.
2. China COSCO Shipping Corporation Limited
Headquarters: Shanghai, China
COSCO Shipping is headquartered in Shanghai, China, and operates in over 160 countries and territories, serving major ports around the world. As a state-owned maritime corporation, it controls a large fleet of crude oil, chemical, LNG, and container ships. The corporation plays a critical role in global energy and commodities transportation, assuring China's energy security and enabling international trade. COSCO Shipping prioritizes efficiency, sustainability, and adherence to environmental rules, investing in new, eco-friendly vessels. Its broad global network, key port access, and diverse activities make it a dominating player in the tanker shipping business, pushing development and innovation throughout the sector.
3. TEEKAY CORPORATION
Headquarters: Vancouver, Canada
Teekay is headquartered in Vancouver, Canada, and operates in eight countries: Canada, the United States, Norway, Bermuda, Singapore, the Philippines, Hong Kong, and Australia. The firm specializes on crude oil and product tankers and provides dependable marine transport services to major energy companies globally. Teekay's fleet services important trade routes while prioritizing operating efficiency, safety, and regulatory compliance. The organization optimizes logistics and reduces environmental impact through technology and strategic partnerships. Teekay's global presence and skill in tanker operations place it as a prominent contributor to the international energy supply chain and the larger tanker shipping sector.
4. Frontline Ltd.
Headquarters: Limassol, Cyprus
Frontline Ltd., based in Limassol, Cyprus, operates in various countries, including Norway, Bermuda, India, the United Kingdom, China, Singapore, the Marshall Islands, and Cyprus. It is a major operator of VLCCs and Suezmax tankers, focusing on crude oil transportation. Frontline focuses on providing dependable and cost-effective transportation solutions along important global commerce routes. The firm guarantees operating efficiency, safety, and compliance with international maritime rules by maintaining a contemporary fleet and entering into strategic charter arrangements. Frontline is a major participant in the tanker shipping business, enabling global energy logistics, thanks to its global operations, large fleet, and market experience.
5. Euronav NV
Headquarters: Antwerp, Belgium
Euronav NV, headquartered in Antwerp, Belgium, operates globally through offices in Belgium, France, Greece, Hong Kong, Singapore, and the United Kingdom. It is an independent crude oil tanker firm with a fleet of VLCCs and Suezmax tankers used for worldwide oil transportation and storage. Euronav focuses on operating efficiency, safety, and environmental compliance while serving key maritime routes throughout the world. Its strategic worldwide position and sophisticated fleet enable it to handle the growing demand for crude oil transportation. The corporation is known as a prominent participant in the worldwide tanker shipping sector, contributing to the expansion of energy logistics and marine trade.
Are you ready to discover more about the tanker shipping market?
The report provides an in-depth analysis of the leading companies operating in the global tanker shipping market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Mitsui O.S.K. Lines, Ltd. (MOL)
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- China COSCO Shipping Corporation Limited
- TEEKAY CORPORATION
- Frontline Ltd.
- Euronav NV
- DHT Holdings, Inc.
- Scorpio Tankers Inc.
- Nordic American Tankers Limited
- Tsakos Energy Navigation Ltd.
- Others.
Conclusion
The Global Tanker Shipping Market Size continues to expand, driven by rising energy demand, growing international trade, and the need for efficient maritime logistics. Key players, including MOL, COSCO Shipping, Teekay, Frontline, and Euronav, leverage extensive fleets, technological advancements, and global networks to meet the increasing demand for crude oil, petroleum products, and chemicals. Innovations in eco-friendly vessels, automation, and digital solutions are enhancing operational efficiency and regulatory compliance. Strategic port expansions and sustainable practices further support market growth. Overall, the tanker shipping industry remains a critical component of global trade, ensuring energy security and supply chain stability worldwide.
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