Strong tanker year sends Canada's Teekay in the black for 2020

The Teekay group, which covers Teekay Tankers and Teekay LNG, among others, reports black figures for full-year 2020, particularly due to the exceptionally strong tanker market in the first half-year.

Photo: Teekay Corporation / PR

The historic tanker market in the first half of 2020 helped turn a deficit into a significant profit for the Canadian Teekay group.

Teekay Corporation, which covers tanker carrier Teekay Tankers and gas business Teekay LNG, among others, thus books an adjusted result of USD 83 million for the full year against a USD 19.1 million deficit for 2019 as a whole, reveals the company's annual report published Thursday.

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