Teekay Tankers Ltd. Reports Second Quarter 2022 Results

Rhea-AI Summary

Teekay Tankers Ltd. (NYSE: TNK) reported its financial results for the quarter ending June 30, 2022. The company operates a fleet of 45 double-hull tankers, including Suezmax, Aframax, and LR2 product tankers, with additional time-chartered vessels. Teekay also manages a ship-to-ship transfer business in the U.S. Gulf and Caribbean. The earnings release and presentation are available on their website. Teekay Tankers was established in December 2007 to enhance its oil tanker operations.

Positive

• Fleet expansion with 45 double-hull tankers enhancing operational capacity.
• Diverse employment strategy utilizing both fixed-rate contracts and spot market trading.

Negative

• None.

HAMILTON, Bermuda, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company's results for the quarter ended June 30, 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 four 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 were Teekay Tankers' earnings for Q2 2022?

Teekay Tankers reported its earnings results for the quarter ended June 30, 2022.

How many tankers does Teekay Tankers operate?

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

What types of tankers are in Teekay's fleet?

Teekay's fleet includes 25 Suezmax, 11 Aframax, and nine LR2 product tankers.

Where can I find more information about Teekay Tankers?

Additional information is available on Teekay Tankers' website.