Tanker

Canada's Teekay Tankers projects better rates in 2018

Teekay Tankers reports weak tanker rates in the spot market in the third quarter, a fact which was reflected on the bottom line. Since then, rate levels have shown "a significant uptick" in the fourth quarter, says CEO.
Photo: Teekay
Photo: Teekay
by SØREN PICO

Canadian Teekay Tankers experienced a weak freight market for crude oil shipments in the third quarter, but the carrier is optimistic about the long-term prospects for the market, as the company has already noted "a significant uptick" in rate levels into the fourth quarter.

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