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Shell, Vitol Lead Top 10 Charterers of Product Tankers: OPIS Analysis

Feb. 6, 2015 at 13:05 by Michelle Wiese Bockmann in Tanker and Oil Industry

Shell and Vitol are the world's top charterers of oil products tankers, according to analysis of 2014 spot market shipping fixtures by OPIS.

Oil giant Shell lifted nearly 39 million metric tons of oil products on 777 vessels, followed by Vitol's 606 charters to ship nearly 30.7 million tons, data show.

OPIS Tanker Tracker on FleetMon.com compiled data from just over 10,000 tanker spot fixtures reported to the market in 2014 from the IHS Fairplay's Sea-web database to develop a top 10 charterers list, which covered 515.9 million metric tons of oil products, roughly half of all the world's seaborne oil products trade.

Oil giant BP was the third-biggest, hiring 520 oil products tankers (27.6 million tons), while Saudi Aramco's shipping and trading arm, ATC, was the fourth-largest, with nearly 25 million tons of products moved.

Total, Europe's largest refiner, was the fifth-biggest user of product tankers (22.7 million tons), while Lukoil, Russia's largest oil producer along with its trading arm, Litasco, was sixth (21.5 million).

Oil trader and miner Glencore along with shipping subsidiary ST Shipping made 7 in the top 10 charterers' list, with fixtures totaling 20.36 million tons reported to the market.

Glencore said it shipped 728 million barrels of oil products in 2013, suggesting that greater volumes of its wet seaborne trade are shipped on tankers under longer-term time charters, rather than the spot market.

The shipping arm of Swiss-based Gunvor, Clearlake, also reached the top 10, chartering 343 product tankers in 2014 to ship nearly 15.5 million tons.

Trafigura was ninth with 281 charters and 14.5 million tons lifted, while Brazil's Petrobras, which has experienced significant delays building its own refineries, imported 13.3 million tons on 263 spot-chartered vessels.

The OPIS Tanker Tracker compiles information from traders and brokers, and FleetMon ship tracking to provide a real-time insight into Europe-bound refined products on tankers. Pinpoint detailed shipping information, such as vessel, product and volume being transported, and buying or selling party and gain critical intelligence on the movement of product from port to port. Learn more and take advantage of a 21-day, no-obligation free trial.

Shell, Vitol Lead Top 10 Charterers of Product Tankers: OPIS Analysis

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