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Teekay Tankers' earnings slashed in half in Q2

Bermuda-based tanker carrier Teekay Tankers delivered a profit in the second quarter of this year, but it was far from the result achieved last year in the same period. The downturn is mainly attributed to poor rates for crude oil, states the management.

Photo: Teekay

Teekay Tankers came out of the second quarter 2016 with revenue of USD 139.6 million and earnings of USD 22.4 million, which represents a setback compared to the same period last year.

In the second quarter 2015, Teekay Tankers booked a smaller revenue, specifically USD 111.2 million. On the other hand, earnings came to USD 45.1 million, which was twice the earnings made in the second quarter this year.

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