Teekay Tankers expects rate recovery towards 2019
Canadian tanker carrier Teekay Tankers reduced its deficit in the fourth quarter and for the full year in a market where factors such as OPEC's output cap led to lower rates than normal. Scrapping may trigger a recovery in rates by the end of the year, says CEO.
by DANIEL LOGAN
Teekay Tankers, part of Canada's Teekay group, which also has activities in offshore, reports a better 2017 than 2016 even though the market is still characterized by weak tanker rates.
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