Teekay Tankers boosts result big-time for 2015

Good spot rates and a larger fleet gave Canadian Teekay Tankers a big boost in 2015. The net earnings came to USD 169.1 million which is much more than in the previous year. The carrier is well-positioned for the market of the future, says the CEO.

Photo: Teekay

Canadian tanker carrier, Teekay Tankers - along with most tanker shipowners around the world - took part in the big boom in the segment in 2015. High spot rates and a larger fleet enabled the carrier to achieve a net income of USD 169.1 million compared to USD 33.9 million in the year before, according to the annual report .

"The increase is primarily due to stronger spot tanker rates in the fourth quarter of 2015 compared to the same period in the prior year and an increase in fleet size related to the acquisition of 17 modern, mid-size tankers during 2015 and the expansion of the Company’s chartered-in tanker portfolio in 2014 and 2015," Teekay Tankers writes in the report.

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