Teekay Tankers Ltd. Reports First Quarter 2022 Results

Rhea-AI Summary

Teekay Tankers Ltd. (NYSE: TNK) reported its results for Q1 2022, highlighting its fleet of 45 double-hull tankers, including 25 Suezmax and 11 Aframax vessels. The company utilizes a mix of contracts and spot trading for its operations. Teekay, formed in 2007, also owns a VLCC through a joint venture and a ship-to-ship transfer business operating in the U.S. Gulf and Caribbean. Further details are available on their website.

Positive

• Fleet of 45 double-hull tankers enhances market position.
• Diverse employment strategy with a mix of fixed-rate charters and spot trading.

Negative

• None.

HAMILTON, Bermuda, May 12, 2022 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company's results for the quarter ended March 31, 2022:

The full earnings release and earnings presentation are available on the Company’s website here.

About Teekay Tankers

Teekay Tankers currently has a fleet of 45 double-hull tankers (including 25 Suezmax tankers, 11 Aframax tankers and nine LR2 product tankers), and also has three time chartered-in tankers. Teekay Tankers’ vessels are typically employed through a mix of short- or medium-term fixed-rate time charter contracts and spot tanker market trading. Teekay Tankers also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business that performs full service lightering and lightering support operations in the U.S. Gulf and Caribbean. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its oil tanker business.

Teekay Tankers’ Class A common stock trades on the New York Stock Exchange under the symbol “TNK.”

For Investor Relations
enquiries contact:

E-mail: TeekayTankers@IGBIR.com
Website: www.teekay.com

FAQ

What are the recent results for Teekay Tankers (TNK)?

Teekay Tankers reported its Q1 2022 results, emphasizing its fleet and operational strategy.

How many tankers does Teekay Tankers (TNK) operate?

Teekay Tankers operates a fleet of 45 double-hull tankers.

What is the trading symbol for Teekay Tankers?

Teekay Tankers trades under the symbol 'TNK' on the NYSE.

What types of tankers are in Teekay Tankers' fleet?

Teekay Tankers' fleet includes Suezmax, Aframax, and LR2 product tankers.