Report
Subject: the largest owners of oil tankers worldwide (companies and individuals)
Data cut-off: 26 August 2025
Coverage: crude oil and oil product tankers (VLCC, Suezmax, Aframax/LR2, LR1/Panamax, MR/Handy).
State/public groups leading by fleet size:
COSCO Shipping Energy (PRC), Frontline (Oslo/NYSE), Bahri (Saudi Arabia), Hafnia (BW Group), Scorpio Tankers, International Seaways, DHT Holdings. Plus large state operators under sanctions (NITCIran, Sovcomflot RF). (HKEX News, ml-eu.globenewswire.com, bahri.sa, investor.hafnia.com, intlseas.com, CMB.TECH, Poten & Partners, Reuters)
Largest private owners (individuals) focused on oil:
Maria Angelicoussis (Angelicoussis Group / Maran Tankers), Georgios Prokopiou (Dynacom), the Martinos family (Thenamaris), Andreas Martinos (Minerva Marine). (worldlngsummit.com, marantankers.gr, DynacomTM,
Largest corporate owners of tankers
COSCO Shipping Energy Transportation (PRC, state-owned)
Scale: as at year-end 2024 — 159 tankers totaling 23.74 million dwt; another 12 on order (4.07 million dwt). Wording “owned and operated.”
Note: the largest Chinese state player in “wet” shipping (crude + products).
Source: COSCO Energy 2024 reporting (presentation/annual report). (HKEX News)
Frontline plc (Norway/Cyprus, public)
Snapshot: end-2024 — 81 tankers: 41 VLCC, 22 Suezmax, 18 Aframax/LR2.
Comment: growth after the 2023 Euronav deal; confirmed in the 2024 annual report and Q1 2025 materials. (ml-eu.globenewswire.com, Seeking Alpha, GlobeNewswire)
Bahri (Saudi Arabia, state-owned)
Operated: 109 vessels as of 31.12.2024 (including charters). Owned: 93 at year-end 2024 and 97 by Q1 2025.
VLCC: modernization via purchase of 9 VLCCs from Capital Maritime; in 2025 they add ≥10 VLCCs. The corporate fleet page currently shows “~104 vessels, of which 50 VLCCs” — the value is dynamic.
Sources: 2024 annual report, Q4 2024/Q1 2025 press releases, website and S&P Global/KSA exchange notices. (bahri.sa, PR Newswire, investors.bahri.sa, S&P Global, saudiexchange.sa)
Hafnia (BW Group, public)
Owned: ≈114; total under commercial management: ≈199 (product + chemical).
Source: corporate “Fleet / Investor Relations” page (updated; figure refers to 2025). (investor.hafnia.com)
Scorpio Tankers (NYSE: STNG)
Fleet: 99 “eco” tankers on the water (mix of LR2/LR1/MR) — Q2 2025 presentation.
Source: official investor presentation.
International Seaways (NYSE: INSW)
Fleet: 81 vessels (11 VLCC, 13 Suezmax, 5 Aframax/LR2, 13 LR1 incl. 6 NB, 39 MR) — updated in a corporate release on 23.07.2025.
Source: company website (IR news) and quarterly reporting. (intlseas.com, sec.gov)
DHT Holdings (NYSE: DHT)
Fleet: 22 VLCC as of 31.03.2025; 23 VLCC after May 2025 delivery.
Sources: DHT press releases/presentations in spring 2025. (CMB.TECH, offshore-energy.biz)
Okeanis Eco Tankers (OSE/NYSE: ECO)
Fleet (sailing): 14 vessels, including 8 VLCC and 6 Suezmax (scrubber-fitted, modern).
Source: corporate communications in 2025. (OKEANIS ECO TANKERS)
AET (MISC Berhad, Malaysia)
Profile: global crude and clean owner/operator, a significant player in DP-shuttle tankers; “60+ vessels.”
Sources: MISC 2024 annual report, AET 2023/24 overview and public materials. (insage.com.my, AET Connect)
State operators under sanctions (scale is significant, reporting is limited):
National Iranian Tanker Company (NITC): benchmark — ~38 VLCC (Clarksons estimate, cited by Poten/TradeWinds, May 2025). Iran actively deploys a “shadow fleet.” (Poten & Partners, Reuters)
Sovcomflot (RF): the largest Russian tanker carrier; under tightened sanctions by the US/EU/UK, with restrictions covering dozens of vessels (including 69 vessels in one of the 2025 packages). Quantitative fleet figures in open English-language sources since early 2025 are fragmentary. (Reuters, U.S. Department of the Treasury)
Note: China Merchants Energy Shipping (CMES) remains one of the largest Chinese owners of VLCC/Aframax, but in English-language excerpts its AR 2024 fleet breakdown is disclosed in aggregate (tankers + gas carriers). Including CMES in the global oil top is justified, but quantitative data for purely “oil tankers” in a comparable 2024/25 format are publicly limited. (s3gw.cmbimg.com)
Major private owners (individuals) and their tanker assets
Maria Angelicoussis (CEO/Owner, Angelicoussis Group / Maran Tankers, Greece).
The largest private Greek group (tankers managed via Maran Tankers). In 2024–25 the group also consolidated Altera’s shuttle fleet, strengthening its oil presence. (worldlngsummit.com, tradewindsnews.com)
Georgios Prokopiou (Dynacom Tankers).
A long-standing major crude-tanker owner; the company website indicates ≈67 vessels under management; in 2024–25 a notable newbuilding portfolio for large crude tankers was placed. (DynacomTM, rivieramm.com)
The Martinos family (Thenamaris / EastMed).
As of 2025, Thenamaris operates ~50 tankers (from a total fleet ≃92 units across segments), actively renewing LR2. (rivieramm.com, Thenamaris)
Andreas Martinos (Minerva Marine).
Minerva manages ~54 tankers; a significant share is VLCC/Suezmax/Aframax. (rivieramm.com, GreekReporter.com)
The “shadow fleet” market and its impact on tonnage distribution
According to S&P Global/Lloyd’s List and others, the “shadow fleet” in 2024–25 reached 17–20% of the global tanker fleet, 669–1600 vessels depending on methodology; part is employed in flows from the RF/Iran/Venezuela. This distorts the visibility of beneficiaries and “actual” operators. (S&P Global, Reuters)
Appendix: links to key sources
COSCO FY 2024 (159 tankers, 23.74 million dwt) — results presentation/AR. (HKEX News)
Frontline FY 2024 and Q1 2025 — fleet composition. (ml-eu.globenewswire.com, Seeking Alpha)
Bahri AR 2024, Q4 2024/Q1 2025 releases, fleet website, VLCC deals. (bahri.sa, PR Newswire, Reuters)
Hafnia — Fleet/IR. (investor.hafnia.com)
Scorpio Tankers — Q2 2025 deck (“99 eco vessels on the water”).
International Seaways — IR (81 vessels) + SEC/presentations. (intlseas.com, sec.gov)
DHT — Q1/Q2 2025 (22→23 VLCC). (CMB.TECH, offshore-energy.biz)
NITC — Clarksons/TradeWinds estimate (VLCC ≈38). (Poten & Partners)
SCF — Reuters/OFAC on sanctions and fleet impact. (Reuters)
Angelicoussis/Maran — bio and 2024–25 deals. (worldlngsummit.com, tradewindsnews.com)
Dynacom — website and 2025 industry coverage. (DynacomTM, rivieramm.com)
Thenamaris/Minerva — website/trade press. (rivieramm.com, Thenamaris)