Teekay Tankers affected by "historically weak" spot rates in third quarter

Canadian tanker company Teekay Tankers goes deeper into the red in the third quarter as a result of "historically weak" spot rates for crude oil. Fourth quarter will come with improvements, and the CEO sees positive signs despite uncertainties related to Covid-19.

Photo: Teekay Corporation / PR

Teekay Tankers cannot escape the effects of the weak tanker market, which has triggered substantial deficits for most dry bulk operators  in 2021.

The Canadian tanker's bottom line turned brighter red in the third quarter, prompted by "historically low crude oil spot rates" as a result of low demand.

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