Crude Oil Carriers Market SWOT Analysis to Receive Overwhelming Hike in Revenues by 2024

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Crude Oil Carriers Market

• - Global Industry Analysis, Size, Share, Growth
  Trends and Forecast 2016 - 2024

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Crude Oil Carriers Market Snapshot

• Crude oil carriers are used in transportation of
  crude oil from production location to refineries.
  
• Pipelines, rail tank cars, tank trucks, and
  barges are some of the means through crude oil
  transported.
• However, crude oil carriers, commonly known as
  oil tankers, are mainly used in bulk transport
  from one place to another.
• Based on vessel type, the global crude oil
  carriers market is segmented into Suezmax,
  VLCC/ULCC, Panamax, and Aframax.

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Diverse Business Strategies by Vendors Driving
Market Growth

• Key vendors are coming up with new ways to
  strengthen their position in the global crude oil
  carriers market.
• Incorporation of advanced transportation
  technologies is one such move that is helping
  major players.
• Some of them are focusing on utilizing improved
  carrier models.
• Growing crude oil demand from developed and
  developing countries in pushing the crude oil
  carriers market.
• This increased demand can be attributed to need
  for fuel generation and as a feedstock for
  chemical production.
• Swift industrialization in many worldwide
  economies is one of the key factors projected to
  push demand for crude oil and its by-products.

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VLCC and ULCC Together Account for Dominant
Share

• The two main kinds of oil carriers are crude oil
  carriers and product carriers. Crude oil
  carriers, typically, transfer unrefined crude oil
  from exploration and production facilities to
  crude oil refineries.
• Product carriers, on the other hand, ship
  refined products to points close to consuming
  markets.
• Coastal tank vessel trades are carried out using
  crude carriers, tank barges, and product tankers.
  Crude oil carriers serve the West/Alaska coast
  crude oil trades.

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Crude Oil Carriers Market By Vessel Type

• VLCC/ULCC
• Suezmax
• Aframax
• Panamax 

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