Shipping
At any one time, there are up to 200 tankers performing voyages for Vitol, located throughout the waters of the world.
Our shipping capability is clearly central to providing reliability, punctuality and highly competitive freight costs for crude oil, products, LPG and, recently, LNG.
In freight, we are very active in the dry cargo market, both through paper trades and vessel ownership.
We have a dedicated shipping team located in Europe, the Far East and the Americas to give Vitol 24-hour coverage of the world’s shipping markets.
As with every other Vitol business, market intelligence is pivotal in knowing the availability of appropriate tonnage at any given moment. Prices are driven by the volume of oil being moved around the world, and through close contact with our own oil sector teams Vitol has the best possible data from which to project worldwide shipping rates. We are also an active player in the freight forward market in order to manage shipping rate risk.
Vitol charters well over 3000 vessels a year, making us one of the largest charterers of large ships in the world. We also have a fleet of approximately 80 tankers on time charter, meaning that we can take them anywhere at any time, freeing us to maximise opportunities wherever they arise.
• The Challenge Prospect loading at our EuroTank Terminal in Rotterdam.