Oil Vessel are being transported for refinery across the globe our crude tanker is an oil tanker built specifically for transporting crude oil (as opposed to refined oil). The firm that owns the crude tanker leases the ship under a complicated contract to oil marketers, oil refiners, chemical companies, or other users like contractors representing governments, consortiums or businesses.
Contract terms vary based on the length of the lease, the quantity of oil to be transported and the route of transport. The contract also includes details of who will bear operational expenses like fuel costs, crew payments and insurance.