Teekay Tankers Q2 2023 results

Announced earlier today

  • Have to hunt for the revenue number
  • Net income of $149.4M
  • Like STNG, TNK is in the mode of terminating leases (just 4 planned in the latest round)
  • Declared a 25c/sh dividend
  • TNK has a variable size charter-in fleet (currently 8)

PowerPoint Presentation (seekingalpha.com)

Rev was $370.6M Significant drop in Suezmax rate in Q3. Not as significant for Aframax/LR2. TNK have a lot more dry-docking in Q3 (about 40% of annual dry-docking).

TNK appear to have significantly reduced their leverage. Though, on the flip side, on avg TNK’s fleet age is older than STNG or FRO.


Additional resource to back up fleet angle

Teekay Fleet List | Teekay

Newest owned vessel is 2013 build.

1 Like