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Teekay Tankers goes red but eyes recovery in the long term

The weak tanker market pulled Teekay into the red in the second quarter, and the Canadian company points to continued uncertainties in light of the Covid-19 pandemic while noting improvements in sight.

Photo: Teekay Corporation / PR

Teekay Tankers exits the second quarter with a red bottom line, as the weak tanker market continues into the third quarter.

The Canadian tanker carrier, part of Teekay Corporation, books a net deficit of USD 129.1 million for the second quarter, a big dip from a profit of USD 98.1 million in the same period last year, shows the report released Thursday.

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