Shuttle Tankers: A Distinct Vessel Breed, a Niche Market

A wave of new investment in dedicated shuttle tankers has been spurred by the age profile of the existing fleet coupled with surging developments in the Brazilian offshore market.

Constituting a specialized asset class, dynamic positioning (DP) shuttle tankers are a flexible and cost effective way of lifting and transporting oil from offshore fields, where subsea pipelines are not a practical or economically viable option.

Production platforms or floating units are increasingly located in deepwater areas prone to challenging weather and hydrological conditions, and where high extraction rates generate demand for consistent, dependable service in transporting crude oil and condensate to refineries and terminals ashore.
Tailored to a niche segment of the offshore oil delivery chain, shuttle tankers command a substantial premium in capital cost, reflecting a technical specification aimed at ensuring the highest standards in operational and environmental performance, redundancy and maintenance regime. Moreover, exacting parameters regarding maneuvering and position keeping when loading (over the bow) in open waters, be it in high sea states and raging winds, place a particular imperative on crew competence alongside equipment and system grade.

The requirement for replacement of older tonnage and for a new generation of vessels meeting charterer’s