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Tanker shipment Market Worth to Reach USD 2614.42 Million by 2026

According to the report, The global tanker shipment market in 2019 was approximately USD 2097.09 Million. The market is expected to grow above a CAGR of 3.2% and is anticipated to reach over USD 2614.42 Million by 2026.

The shipping tankers are used for water transportation of bulk material. The tankers design varies depending upon the type of material it is intended to carry. the material carried by the tanker includes chemicals, oil (Crude oil etc.) and gas (LNG, CNG, etc.). According to its size, the tankers are differentiated among ultra large crude carrier, very large crude carrier, suezmax, large range 2, large range 1, medium range 2, medium range 1, intermediate tanker and small tanker. The VLCC tankers are considered to carry twice the capacity of suezmax tankers.

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The tanker shipment market research report delivers an acute valuation and taxonomy of the tanker shipment industry by practically splitting the market based on shipment type, tanker type, transportation route and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the tanker shipment industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the tanker shipment industry is provided for the leading economies of the world.

The tanker shipment market is segmented based on shipment type, tanker type, transportation route and region. On the basis of shipment type segmentation, the market is classified into oil tankers, chemical tankers, LNG tankers and others. On the basis of tanker type, the market is bifurcated into ultra large crude carrier (ULCC), very large crude carrier (VLCC), suezmax, large range 2 (LR2), large range 1 (LR1), medium range 2 (MR2), medium range 1 (MR1), intermediate tanker and small tanker. On the basis of transportation route, the market is segmented into inland, coastal and deep sea.

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Some of the essential players operating in the tanker shipment market, but not restricted to include Tsakos Energy Navigation, Teekay Corp, Frontline Ltd, COSCO, DHT Holdings Inc, Ship Finance International Limited, Nordic American Tanker, Mitsui O.S.K. Lines, Eastern Pacific Shipping, The Maersk Group, Orient Overseas Container Line Limited and AET.

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