Announced 07/31 and I am just noticing the slides a couple of days (08/02) later. Kinda funny one has to go to the Appendix to find top-line numbers
- Rev of $227.3M
- Income from operations $41.1M
- Adjusted Net Income of $48.7M
- Slide 3 has vessel ins & out (a 2017 Suezmax delivered in July 2023, acquisition of JV VLCC, 5 vessels sold (in Q2 or Q3??))
- Declared div of 25c/sh, payable in Aug 2025
TNK used to have a slide that showed the fleet (owned and charter-ins) in a table. Not in the slide deck this time. Teekay’s website has a section with fleet data (thru June 2025, 42 vessels). But, Teekay also have a whole slide on the charter-in fleet (slide 11) and the indication is Q3 2025 there is the equivalent of 2 charter-ins for the Aframax category. [Edit: Their site shows 3 Aframax charter-in vessels. I guess, assume one returned to owner in July 2025. But, that missing table also had TNK’s side business vessels - vessels for ship-to-ship transfer]
$700M in cash and just a small indication that significant fleet expansion is down the road.