Teekay Tankers Ltd
F:S52
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Teekay Tankers Ltd
Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. The firm's primary business is to own and operate crude oil and refined product. operates mid-sized tankers. In addition, to its core business, the Company also provide STS support services, along with its tanker commercial management operations. The firm owns a fleet of approximately 42 double-hull tankers, including 24 Supermax tankers,18 Aframax/LR2 tankers, and has six time chartered-in tankers. Its vessels are typically employed through a mix of spot tanker market trading and short- or medium-term fixed-rate time charter contracts. The firm also owns a crude carrier (VLCC) through a joint venture. The company owns a ship-to-ship transfer business that performs full-service lightering and lightering support operations in the United States, Gulf, and Caribbean.
Teekay Tankers Ltd. engages in the provision of crude oil and refined petroleum products through the operation of its oil and product tankers. The firm's primary business is to own and operate crude oil and refined product. operates mid-sized tankers. In addition, to its core business, the Company also provide STS support services, along with its tanker commercial management operations. The firm owns a fleet of approximately 42 double-hull tankers, including 24 Supermax tankers,18 Aframax/LR2 tankers, and has six time chartered-in tankers. Its vessels are typically employed through a mix of spot tanker market trading and short- or medium-term fixed-rate time charter contracts. The firm also owns a crude carrier (VLCC) through a joint venture. The company owns a ship-to-ship transfer business that performs full-service lightering and lightering support operations in the United States, Gulf, and Caribbean.
Record Profit: Teekay Tankers posted its strongest quarter in 12 months, earning $92.1 million in net income, or $2.66 per share.
Strong Market: Spot rates for VLCC, Suezmax, and Aframax/LR2 tankers were all well above historical averages, with significant strength carrying into Q4.
Fleet Renewal: The company completed key fleet renewal transactions, selling five older vessels for $158.5 million and acquiring newer ships.
Free Cash Flow & Balance Sheet: Generated $69 million in free cash flow and ended the quarter with $775 million in cash and no debt.
Dividend Maintained: Declared a regular dividend of $0.25 per share.
Optimistic Outlook: Management expects a firm winter market, citing record seaborne crude trade and continued OPEC+ supply increases.
Capital Allocation: The focus remains on investing in core Aframax and Suezmax segments rather than expanding into MRs or VLCCs.
