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Oil tanker companies specialize in the transportation and storage of crude oil. The business involves firms that own, operate, or lease various types of oil tankers and facilities. Crude tankers transport bulk volumes of unrefined crude oil from oil extraction facilities to oil refineries, while product tankers carry refined products to facilities where they will be sold to end consumers, and replenishment oilers are used to refuel ships at sea.

One type of tanker that became especially important in early 2020 was old, nonoperational oil tankers used as floating storage units. The oil price war between Russia and Saudi Arabia and the impact of COVID-19 led to plunging oil prices as a glut of supply flooded the market. As demand for oil evaporated, demand for oil storage soared. Oil tanker companies offering storage profited from that demand and their stocks received a healthy boost.

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

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

Teekay is a Canada-based investment holding company that provides international crude oil and gas marine transportation services. It also offers offshore oil production, 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 revenue and market cap figures cited above for Teekay includes these two subsidiaries. TNK provides separate exposure to conventional crude oil tankers and product carriers, while TGP gives investors separate exposure to liquefied natural gas and liquefied petroleum gas 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 Belgium-based company engaged in the transportation and storage of crude oil. It provides shipping services for crude oil seaborne transportation through its tankers segment. It receives hydrocarbon fluids pumped by nearby offshore platforms and provides field storage through its floating, production, storage and offloading operation 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 Monaco-based shipping company that went public in 2010. It provides marine transportation of petroleum products worldwide. The company operates through four segments that represent different types of ships. The company operates over 100 vessels.

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

Frontline is a Bermuda-based international shipping company that owns and operates oil and product tankers. The company also provides seaborne transportation of crude oil and oil products. Frontline was created through a series of major restructurings, mergers, and acquisitions in 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 a Bermuda-based independent crude oil tanker company that provides transportation services to oil companies. The company operates a fleet of crude oil tankers through integrated management companies located in Monaco, Singapore, and Norway.

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