Teekay Tankers: The best spot rates in six years

Stock-listed Teekay Tankers achieved a significant profit in the last three months of 2014 under the best circumstances in years. The carrier's CEO expects strong spot rates throughout 2015.

Photo: Teekay

Teekay Tankers, one of the best performing shipping shares on Wall Street last year, achieved adjusted operational earnings (EBITDA) of USD 33.9 million in the fourth quarter of 2014, after the tanker carrier in the year's last three months sailed its way to the highest spot rates in six years, or since the winter of 2008, says the carrier's CEO Kevin Mackay in a comment on the annual report on Thursday.

The net result in the fourth quarter amounted to USD 20 million. The whole fiscal year showed a net result of about USD 57 million.

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