Oil Tanker Law and Legal Definition

The term oil tanker refers to vessels that are specially designed to transport large quantities of oil. There are two types of oil tankers namely the crude tanker and the product tanker. While the crude tanker carries unrefined crude oil the product tankers carry refined oil from refineries to locations near the consumer markets. Crude tankers are larger than product tankers. Ship having large compartments, designed to transport crude oil over the ocean is often referred to as an oil tanker. Oil tankers are often classified by their size as well as their occupation. The size classes range from inland or coastal tankers of a few thousand metric tons of deadweight (DWT) to the mammoth ultra large crude carriers (ULCCs) of 550,000DWT. Tankers move approximately 2,000,000,000 metric tons of oil every year.