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)
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.