Teekay Tankers Ltd (TNK)

About

Teekay Tankers Ltd. is an international provider of marine services to the oil and natural gas industries. The Company’s business is to own crude oil and product tankers. The Company’s operations are managed by Teekay Tankers Management Services Ltd., a subsidiary of Teekay Corporation, which provides to it commercial, technical, administrative and strategic services. The Company owns a fleet of 27 double-hull vessels, including 11 Aframax tankers, 1 Suezmax tankers, three Long Range 2 (LR2) product tankers, three Medium-Range (MR) product tankers and has contracted six time charter-in Aframax tankers and four time charter-in LR2 product tankers. Teekay Tankers` vessels are employed through a mix of short- or medium-term fixed-rate time charter contracts and spot tanker market trading, and its vessels are commercially and technically managed by a joint venture company in which Teekay Tankers and Teekay Corporation each own a 5% interest.