05/14 Teekay Tankers (TNK) announced their quarterly results
- Rev of $286.1M
- Adj Net Income of $128.3M
- TCE avg (daily): VLCC $88,000 Suezmax $62,100 Aframax/LR2 $59,900
- Declared reg div of 25c/sh, and sp div of $1/sh
- Acquired 2 Suezmax resales for $190M, delivery in 2027
- Two sold Suezmax delivered in Q1 2026. Agreed to sell a Suezmax in Q2 2026
https://www.teekay.com/wp-content/uploads/2026/05/TK-Group-Q1-26-Earnings-Presentation.pdf
Similar to other tanker companies that have already reported, Q2-to-date shows a significant bump up from Q1 2026 e.g. Suezmax (60% done) is $121,800 daily. TNK finally adding newbuild acquisitions. But, paying a premium and having to wait.
No TNK position.