Double Hulling of Ships Market Reports 2015 – 2023

Earlier, single hulling of ships was used by most oil and crude oil companies, wherein only side and bottom plates were used to separate the oil and crude oil products from seawater. Such systems proved to be quite unsafe, especially when the black gold was to be transported to different places. Also, because of this, there were several mishaps and dangerous incidents that took place in the global oil and gas industry. In order to offset the risk of spilling, numerous oil tankers began installing a second internal plate, the distance of which from the outer plate ranged between 1.5 and 2 meters.

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The 1990 oil pollution act was passed after the Exxon Valdez disaster that had taken place in the U.S. This act aimed at reducing the frequency of oil spill accidents and lessen the effects of potential oil spills in future. This act requires tankers operating in U.S. waters to follow the double hulling design in vessel construction. Shipping companies are also expected to do away with all single hulling and double bottom and double sides hulling designed ships that they own.

Conversion of Single Hulled Ships to Double Hulled Ships: An Ongoing Market Trend

The global double hulling of ships market is segmented on the basis of types of tankers that carry either refined product or crude oil. These tankers vary in size. On the one hand, there are relatively small coastal tankers and on the other hand there are enormous tankers such as ULCC (ultra large crude carrier), VLCC (very large crude carriers), long crude vessels, and Pana-max and Afra-max crude and product vessels. VLCC ranges between 160-320 thousands dead weight and ULCC ranges between 320-550 thousands dead weight.

Other vessels have a capacity below 160 thousands dead weight. The conversion of a single hulled ships into a double hulled ship is a very complex process. Despite this, there are numerous shipping companies that are taking to the conversion of single hulled ships to double hulled ones. Strict implementation of maritime and governmental regulations are the main factors that are fuelling the demand for double hulling of ships.

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Safe Transportation of Crude Oil: A Key Focus Area of the Global Double Hulling of Ships Market

Most economies started accepting double hulling of ships after incidents of oils spillage took place and led to huge financial losses. Asia Pacific and Europe are by far the largest importers of crude oil and crude products from the U.S. Trading in crude oil and its products between the Asia Pacific countries and other countries in the world can take place only by tankers and not by pipeline transportation, since the trading routes are very long. This calls for appropriately designed ships that will ensure not only the safe and pollution-free transportation of crude oil and products.

Since there are no other alternatives to ships operating in longer routes, it is anticipated that the global double hulling of ships market will expand substantially in the forthcoming years. The key companies operating in the global double hulling of ships market are Shanghai Waigaoqiao International Trade Co., Ltd., Imabari Shipbuilding Co., Ltd, Hyundai Heavy Industries Co., Ltd., Samsung Heavy Industries Co., Ltd., and Mitsubishi Heavy Industries Ltd., amongst others.

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