Shuttle Tanker Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Conventional Shuttle Tankers, SPM (Single Point Mooring) Shuttle Tankers, DT (Dynamic Positioning) Shuttle Tankers), By Capacity (Less than 100,000 DWT (Deadweight Tonnage), 100,000 to 200,000 DWT, Above 200,000 DWT), By End-User (Offshore Oil & Gas, Chemicals & Liquids Transport, LNG (Liquefied Natural Gas)), By Application (Oil Transportation, Gas Transportation, Chemical Transportation), By Region & Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 4.81 Billion
CAGR (2026-2031)	4.74%
Fastest Growing Segment	100,000 to 200,000 Deadweight Tonnage (DWT)
Largest Market	Asia Pacific
Market Size (2031)	USD 6.35 Billion

Market Overview

The Global Shuttle Tanker Market will grow from USD 4.81 Billion in 2025 to USD 6.35 Billion by 2031 at a 4.74% CAGR. Shuttle tankers are specialized vessels equipped with dynamic positioning systems and bow-loading apparatus designed to transport crude oil from offshore installations to onshore terminals or refineries. The primary drivers supporting market growth include the expansion of deepwater oil exploration activities in key regions such as Brazil and the North Sea and the comparative cost-effectiveness of these vessels over fixed subsea pipelines for remote field development.

One significant challenge impeding market expansion is the stringent regulatory pressure to reduce emissions which necessitates substantial capital expenditure for fleet renewal and green technology retrofits within an aging vessel population. This supply constraint is reflected in broader sector data where limited yard capacity has restricted fleet growth. According to BIMCO, in 2024, the global crude tanker fleet capacity grew by only 0.5 percent due to low delivery volumes and an aging commercial fleet profile.

Key Market Drivers

Rising hydrocarbon production activities in key markets like Brazil and the North Sea are fundamentally propelling the global shuttle tanker sector, as these vessels provide the critical flexibility required to transport crude from remote deepwater fields where subsea pipelines are economically unviable. This driver is particularly potent in Brazil's pre-salt basins, where record-breaking extraction rates are directly translating into sustained vessel utilization and demand for high-specification tonnage. According to the National Agency of Petroleum, Natural Gas and Biofuels (ANP), April 2024, in the 'Monthly Bulletin of Oil and Natural Gas Production', Brazil’s total output reached 4.383 million barrels of oil equivalent per day in February 2024. This robust production environment necessitates a reliable logistics chain, cementing the shuttle tanker’s role as the primary transport solution for the region's expanding crude exports.

The increasing deployment of Floating Production, Storage, and Offloading (FPSO) units serves as the second major catalyst, creating a synchronized demand for shuttle tankers which act as the exclusive "floating pipeline" for these offshore assets. As operators commission new production units to monetize ultra-deepwater reserves, the requirement for bow-loading vessels to perform regular offtake operations scales proportionately. According to Offshore Energy, May 2024, in the article 'Petrobras sets its cap on 14 new FPSOs', the Brazilian state operator intends to bring 14 new FPSO vessels online between 2024 and 2028. Highlighting the massive financial scale supporting this infrastructure growth, the Energy Industries Council (EIC), April 2024, in the 'Petrobras’ vision for growth' report, noted that the company has earmarked a total investment of US$ 102 billion for its five-year strategic plan, ensuring long-term activity for the shuttle tanker market.

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Key Market Challenges

The stringent regulatory pressure to reduce emissions poses a substantial barrier to the Global Shuttle Tanker Market by forcing high capital expenditures on an already constrained supply chain. Vessel owners face increasing difficulties in securing financing for fleet renewal as environmental mandates require the integration of expensive, compliant technologies. This financial burden effectively halts the development of new projects, as operators hesitate to commit to long-term investments without guaranteed charter rates that cover these elevated costs. Consequently, the market experiences a slowdown in the delivery of modern vessels necessary for deepwater operations.

This challenge is significantly compounded by the rapidly aging profile of the existing commercial fleet, which struggles to meet new efficiency standards without significant retrofitting. The lack of available shipyard slots further restricts the ability to replace these older units promptly, creating a deficit in compliant tonnage. According to BIMCO, in early 2025, approximately 10 percent of the total tanker fleet capacity consisted of vessels aged 20 years or older. This statistic highlights a critical bottleneck where the potential retirement of non-compliant tonnage outpaces the entry of new shuttle tankers, thereby limiting overall market capacity and growth potential.

Key Market Trends

The adoption of LNG-fueled and dual-fuel propulsion technologies is rapidly reshaping the shuttle tanker market as operators prioritize fleet decarbonization to meet stringent environmental mandates. This technical evolution involves equipping vessels with engines capable of burning both conventional marine fuels and cleaner alternatives like liquefied natural gas or methanol, significantly reducing nitrogen oxide and particulate matter emissions during offshore loading operations. Shipowners are increasingly integrating these dual-fuel systems into their fleet renewal strategies to ensure compliance with tightening international regulations while maintaining operational flexibility. Reflecting this broader industry shift towards lower-emission propulsion, according to DNV, January 2025, in the 'Alternative Fuels Insights' report, a record 264 LNG-fueled vessels were ordered globally in 2024, more than doubling the volume from the previous year and signaling a decisive transition for specialized segments like the shuttle tanker market.

Simultaneously, there is a distinct trend towards the standardization of vessel designs to support long-term charters in high-growth regions such as Brazil’s pre-salt basins. Operators are securing large-scale contracts for series of identical vessels, which reduces construction costs through economies of scale and streamlines maintenance and crew training protocols for complex dynamic positioning operations. This shift is driven by the requirements of major energy companies for reliable, uniform tonnage that can operate efficiently in harsh offshore environments. According to Offshore Energy, March 2025, Samsung Heavy Industries secured a major contract worth approximately $1.34 billion for the construction of nine standardized dynamic positioning shuttle tankers, specifically designed to service a long-term logistics tender for Petrobras.

Segmental Insights

The 100,000 to 200,000 Deadweight Tonnage segment is identified as the fastest-growing category within the Global Shuttle Tanker Market due to its superior operational flexibility in deepwater regions. This size range offers an optimal balance between cargo capacity and the navigational agility required to service Floating Production Storage and Offloading units efficiently. Increased exploration activities in the North Sea and Brazil further drive demand, as operators prioritize vessels compliant with strict emission regulations from the International Maritime Organization. Consequently, this class provides a cost-effective solution for transporting crude oil from offshore fields to onshore terminals.

Regional Insights

Asia Pacific currently dominates the Global Shuttle Tanker Market, driven primarily by rapid industrialization and surging energy consumption in major economies like China and India. The region's market leadership is underpinned by increasing investments in offshore oil and gas exploration, particularly in deepwater fields across Southeast Asia and Australia that necessitate flexible maritime transport solutions. Furthermore, supportive government policies aimed at enhancing domestic energy security have accelerated the development of robust coastal infrastructure. This growth is reinforced by the region's status as a global shipbuilding hub, ensuring a steady supply of specialized vessels to meet rising operational demands.

Recent Developments

• In November 2024, Altera Infrastructure entered into a definitive agreement to divest its entire shuttle tanker business to an affiliate of the Angelicoussis Group. The transaction involved the sale of Altera Shuttle Tankers, a leading provider that owned and operated a fleet of eighteen specialized vessels across Brazil, Canada, and the North Sea. This strategic consolidation was expected to create one of the largest combined shuttle tanker fleets in the industry. The acquisition enabled the purchasing group to significantly expand its market presence and service capabilities, while the seller aimed to refocus its resources on other core segments of its offshore infrastructure operations.
• In June 2024, Tsakos Energy Navigation achieved a technological breakthrough when classification society DNV awarded the Cyber Secure Essential notation to its emerging fleet of shuttle tankers. These vessels, which were under construction at Samsung Heavy Industries, became the first in the global shuttle tanker market to receive this certification ahead of mandatory industry requirements. The recognition verified that the tankers complied with stringent cybersecurity standards for their automation and control systems. This development highlighted the company’s strategic focus on integrating digital resilience with operational safety to meet the evolving demands of the global energy transportation sector.
• In March 2024, Samsung Heavy Industries announced that it had secured a construction order for a high-specification shuttle tanker from a shipping company based in the Oceania region. The contract was valued at approximately 198.8 billion KRW. The South Korean shipbuilder committed to delivering the vessel by August 2026, reinforcing its competitive position in the high-value special purpose vessel market. The shuttle tanker was designed to transport crude oil from offshore production facilities to onshore terminals, featuring advanced dynamic positioning systems to ensure stable loading operations in demanding offshore environments.
• In February 2024, COSCO Shipping Heavy Industry Zhoushan Co finalized a significant contract with Knutsen NYK Offshore Tankers for the construction of four new shuttle tankers. This agreement was concluded in Shanghai and involved vessels with a capacity of 154,000 deadweight tons. The newly ordered ships were designed with independent intellectual property rights and featured advanced energy-efficient technologies suitable for complex sea conditions. This deal marked a continuation of the collaboration between the two companies, bringing the total number of shuttle tankers ordered by the Norwegian operator from this shipyard to eleven, with the initial vessels having already been delivered.

Key Market Players

• Teekay Corporation Ltd
• Compagnie Maritime Belge N.V
• AET Tanker Holdings Sdn. Bhd
• Knutsen OAS Shipping AS
• Sea1 Offshore Inc.
• Equinor ASA
• BW Group.
• A.P. Moller-Maersk A/S
• Mitsui O.S.K. Lines, Ltd
• DHT Holdings Inc

By Type	By Capacity	By End-User	By Application	By Region
Conventional Shuttle Tankers SPM (Single Point Mooring) Shuttle Tankers DT (Dynamic Positioning) Shuttle Tankers	Less than 100 000 DWT (Deadweight Tonnage) 100 000 to 200 000 DWT Above 200 000 DWT	Offshore Oil & Gas Chemicals & Liquids Transport LNG (Liquefied Natural Gas)	Oil Transportation Gas Transportation Chemical Transportation	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Shuttle Tanker Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Shuttle Tanker Market, By Type:

• Conventional Shuttle Tankers
• SPM (Single Point Mooring) Shuttle Tankers
• DT (Dynamic Positioning) Shuttle Tankers

• Shuttle Tanker Market, By Capacity:

• Less than 100
• 000 DWT (Deadweight Tonnage)
• 100
• 000 to 200
• 000 DWT
• Above 200
• 000 DWT

• Shuttle Tanker Market, By End-User:

• Offshore Oil & Gas
• Chemicals & Liquids Transport
• LNG (Liquefied Natural Gas)

• Shuttle Tanker Market, By Application:

• Oil Transportation
• Gas Transportation
• Chemical Transportation

• Shuttle Tanker Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE