Very Large Crude Carrier
Abbreviation
VLCC
Very Large Crude Carriers are one of the largest operating cargo vessels in the world. With a size in excess of 250,000 Deadweight Tonnage (DWT), these giant ships are capable of carrying huge amounts of crude oil in a single trip. Known as Supertankers, these vessels are primarily used for long-haul crude transportation from the Persian Gulf to countries in Europe, Asia, and North America. VLCC has a size ranging from 180,000 to 320,000 DWT. They are capable of passing through the Suez Canal in Egypt, and as a result, are used extensively around the North Sea, the Mediterranean and West Africa.
Very Large Crude Carriers can carry roughly 2 million barrels of oil.
It is primarily used to transport oil but can be used to store oil as well.
Older vessels are typically used to store oil.
Carriers typically charge a rate per day. Rates can vary dramatically by oil market supply and demand (25,000/day - 300,000 per day)