Alaska Tanker Company was created in 1999 by Keystone Shipping Company (37.5%), OSG Ship Management (37.5%), and BP Oil Shipping Company USA (25%) to consolidate all of BP's Alaskan crude oil shipping requirements into one operating company. During the previous 20 years, a varying number of ships and ship operating companies provided different levels of operating integrity when carrying BP's oil. This left gaps in safety and environmental assurance which BP, Keystone, and OSG acted to close with the formation of ATC.

Today, ATC has established uniform operating practices across its fleet while incorporating the best practices and highest standards of its participating member companies. The performance-oriented culture that has been established at ATC has fostered levels of achievement exceeding all expectations.