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Teekay Tankers Ltd(TNK-N)
NYSE

Today's Change
Real-Time Last Update Last Sale Cboe BZX Real-Time
Day Low59.38
Day High60.61
Open:60.36
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The Globe and Mail
Bullish on Teekay Tankers Ltd.

Profile

Teekay Tankers Ltd. is a Marshall Islands corporation recently formed by Teekay Corporation to provide international marine transportation of crude oil. Teekay Tankers Ltd. owns a fleet of nine double-hull Aframax-class oil tankers, which an affiliate of Teekay Corporation manages under a mix of spot-market trading and short- or medium-term fixed-rate time-charter contracts. In addition, Teekay Corporation will offer to Teekay Tankers Ltd. within eighteen months of the initial public offering the opportunity to purchase up to four Suezmax-class oil tankers. Teekay Tankers Ltd. intends to distribute on a quarterly basis all of its cash available for distribution, subject to any reserves established by its board of directors.