05 — Shipping

Moving energy across the seas.

As part of ONEX’s integrated energy supply chain, our shipping division moves crude and refined products securely, efficiently and on time across regional and global markets.

Overview

Scalable, reliable, globally positioned.

The ON Fleet of product and crude tankers is designed to support our upstream, refining and trading operations while providing optionality, speed and independence in a volatile logistics environment.

Eleven vessels — seven LR2s and four VLCCs — work hand in hand with ONEX DMCC, our trading platform in Dubai and Geneva. Technical ship management sits with industry leaders Anglo-Eastern and Scorpio Tankers.

In numbers

The ON Fleet in numbers.

11vessels in the ON Fleet
7LR2 tankers, ~105,000–115,000 dwt each
4VLCCs (very large crude carriers)
1stmerchant ship with DNV’s SILENT-E notation

Aerial view of an ONEX crude oil tanker at sea

01 / 02

Our fleet

Two classes of tanker.

7 LR2 (Long Range 2) tankers. Ideal for long-haul delivery of clean products and crude, each with a capacity of around 105,000–115,000 dwt. Three first-class LR2s were built by Hyundai Heavy Industries and delivered in 2021.
4 VLCCs (Very Large Crude Carriers). The largest class in our fleet, carrying crude oil on long-haul routes.

Optionality, speed and independence in a volatile logistics environment.

ONEX team members working in a bright open-plan office

02 / 02

Operations

Managed by industry leaders.

Our vessels are managed by Anglo-Eastern and Scorpio Tankers. A team of around 40 trading and shipping professionals in Dubai and Geneva, with technical and operator experts on the ground in the countries where we operate, gives us a competitive edge in supply chain management.

Explore commodities trading →

Strategy & value creation

How we create value.

Disciplined ownership across the life-cycle of each asset.

01Own tonnage for optionality

The ON Fleet backs the trading desk with controlled tonnage — useful when markets and routes shift quickly.

02Best-in-class managers

Anglo-Eastern and Scorpio Tankers provide technical and commercial ship management to international standards.

03Quieter, cleaner operations

Investment in notations such as DNV SILENT-E shows how the fleet can reduce impact on marine life while moving energy.

Milestones

A clear path.

Scroll or use the arrows to move through the timeline.

2021
Three first-class LR2s delivered from Hyundai Heavy Industries.
Today
ON Fleet at 11 vessels: 7 LR2 + 4 VLCC.
SILENT-E
ONEX Peace becomes the first merchant ship with DNV’s SILENT-E notation.

Footprint

Where this business sits.

Select a pin or a legend entry for details.

1Dubai2Geneva

Sustainability

Protecting the oceans we sail.

ONEX Peace limits underwater radiated noise under DNV’s SILENT-E notation — a world first for a merchant ship — reducing disturbance to marine life on its routes.

Assets

The ON Fleet.

Showing 3 of 3

LR2 · product / crude

LR2 tankers

Seven Long Range 2 tankers for long-haul clean products and crude. Typical capacity around 105,000–115,000 dwt. Three first-class LR2s were built by Hyundai Heavy Industries and delivered in 2021.

Class: LR2
Count: 7
Managers: Anglo-Eastern, Scorpio Tankers

VLCC · crude

Very Large Crude Carriers

Four VLCCs — the largest class in the ON Fleet — carrying crude oil on long-haul routes.

Class: VLCC
Count: 4
Cargo: Crude oil

Flagship

ONEX Peace

World’s first merchant ship with DNV’s SILENT-E notation for low underwater radiated noise. 115,000 dwt.

Notation: DNV SILENT-E
dwt: 115,000

Cleaner shipping

A world first for quiet operations.

ONEX Peace became the world’s first merchant ship to receive DNV’s SILENT-E notation.

The 115,000 dwt crude tanker limits underwater radiated noise, reducing its impact on marine life.

Read the story →

Shipping news

All news

5 January 2023 · Shipping

ONEX Peace becomes the first merchant ship to receive DNV’s SILENT-E notation

← All sectors