I have included a number of links. The chief advantage is it is the most economical way of transporting large volumes of oil from the area of production to refineries, which then transport the refined petroleum products to consumers.
It is frequently the only practical means of transporting crude oil, in locations, where the local market is insufficient and there are no alternatives (pipeline to markets do not exist).
Secondly, tankers are convenient, since they have a number of compartments, whereby they can make a number of pick-ups (liftings) and deliveries.
Third, transportation by tanker is convenient since a large tanker fleet exists to transport crude oil.
The disadvantages: Potential for accidents and oil spillage. Since the Exxon-Valdez accident, there has been considerable concern about tanker spills. I have included related links on tanker accidents. Note that it appears that there has been over the last 40 years, a decrease in large accidents. Some oil may accidently spill during loading.
The tanker in some cases may not be the most economical means. If oil is found where the discovery can easily be tied into an existing pipeline, shipment of crude by tanker may be less economical.
You can find more information in the related links.
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