ShippingWatch

Teekay profited on US sanctions – even though it was itself subject to sanctions

Canada's Teekay had a foot in each camp when the company this fall was included on the US list of Cosco sanctions. But the sanctions ultimately benefited the shipping company, CEO Kenneth Hvid tells ShippingWatch.

Photo: Teekay Corporation / PR

NEW YORK

Even though one of Teekay's companies this fall was subject to the US sanctions against Cosco, the Canadian shipping group ended up profiting nicely off the sanctions, Kenneth Hvid, CEO of Teekay Corporation, tells ShippingWatch.

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