Teekay
Teekay Corporation (NYSE: TK) is a Bermuda-based marine energy transportation company that operates 34 owned mid-sized tankers and provides commercial management, fuel services, and lightering services to global oil companies, traders, and refiners.
- Company typePublic
- Founded1973
- HeadquartersVancouver, Canada
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Teekay does
Teekay Corporation Ltd. (NYSE: TK) is a Bermuda-incorporated marine energy transportation company founded in 1973, operating through its controlling ownership in Teekay Tankers Ltd. (NYSE: TNK). The company operates a fleet of 34 owned double-hull mid-sized tankers (Suezmax, Aframax, and LR2 vessels) managed through in-house ship management with over 2,200 seafarers. The Teekay Group manages approximately 55 vessels and marine assets globally, with offices in Vancouver, Singapore, London, Houston, and Bermuda. Core operations are crude oil and refined product marine transportation, supplemented by three service lines: Commercial Management (vessel trading services for third-party shipowners), Fuel Services (bunker fuel procurement), and Full-Service Lightering & Ship-to-Ship Transfer Services (ISO 9001:2015, 14001:2015, 45001:2018 certified operations in North America, Central America, and the Caribbean).
Teekay firmographics
Firmographics- Name
- Teekay
- Legal name
- Teekay Corporation Ltd.
- Website
- https://teekay.com
- Company type
- Public
- Founded year
- 1973
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Teekay Corporation (NYSE: TK) is a Bermuda-based marine energy transportation company that operates 34 owned mid-sized tankers and provides commercial management, fuel services, and lightering services to global oil companies, traders, and refiners.
- Ownership category
- akta.pro rank
Teekay industry classification
Industry- Product category
- Marine Energy Transportation
- NAICS
- Deep Sea Freight Transportation (483111), Water Transportation (483)
- SIC
- Deep Sea Foreign Transportation Of Freight (4412), Water Transportation (4400)
- akta.pro primary industry
- Bulk Dry Cargo Carriers (Capesize/Panamax/Supramax/Handysize) (TLADABAC)
Keywords
Where Teekay is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices5 records
Markets served
Teekay business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure
Revenue model
- Spot Tanker Charter Rates: Revenue generated from spot market charter rates for mid-sized tanker fleet. Near-record spot rates averaging approximately $61,000 per day across mid-sized fleet in Q1 2026. Q2 2026 saw record spot rates of $142,000 for VLCCs and $122,000 for Suezmaxes due to Strait of Hormuz disruptions.
- Time Charter Contracts: Fixed-rate time charter contracts providing earnings stability. Mix of market trading and fixed-rate contracts for predictable revenue streams.
- Marine Services: Commercial management, fuel services, and lightering/ship-to-ship transfer services provided to industry partners and third-party shipowners.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Spot Tanker Charter Rates - Q1 2026 |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels9 records
Teekay product offering
Product offeringCore offering
Teekay is a marine energy transportation company that operates a fleet of approximately 34 owned double-hull mid-sized tankers (Suezmax, Aframax, and LR2 vessels) for international crude oil and refined product transportation. Through its subsidiaries it also provides commercial ship management services to third-party shipowners, bunker fuel procurement and delivery, and full-service lightering and ship-to-ship transfer operations in North America, Central America, and the Caribbean Sea.
Product overview
Teekay is a marine energy transportation company operating through its controlling ownership in Teekay Tankers Ltd. (NYSE: TNK). The company operates a fleet of 34 double-hull tankers including Suezmax, Aframax, and LR2 vessels for crude oil and refined product transportation. Teekay Tankers serves as the core product, providing marine transportation services globally. Supporting services include Commercial Management (providing ship owners transparent vessel trading services with ownership stake), Fuel Services (bunker fuel procurement), and Full-Service Lightering & Ship-to-Ship Services (STS transfers in North/Central America and Caribbean). The company employs over 2,200 seafarers and manages vessels directly through in-house ship management.
Differentiator
Problem solved
Functional benefit
Brands
- Teekay Fuel Services: Transparent supply chain service for competitively priced bunker fuel procurement and deliveries.
- Teekay Tankers
Products and services
- Teekay Tankers Crude Oil Marine Transportation International crude oil marine transportation operated through Teekay Tankers Ltd. (NYSE: TNK), the company's controlling-interest subsidiary that runs a fleet of 34 owned double-hull mid-sized tankers including Suezmax, Aframax, and LR2 vessels under in-house ship management. Serves major oil companies, traders, and refiners globally.
- Commercial Management Services One-stop commercial management franchise providing third-party shipowners with stable cash flow and transparent service. Teekay trades vessels as if they were its own, offering commercial chartering and post-fixture services.
- Teekay Fuel Services Transparent supply chain service for competitively priced bunker fuel procurement and deliveries, with technical/regulatory expertise, market intelligence, and volume procurement capabilities. Serves shipowners and operators needing bunker fuel.
- Full-Service Lightering & Ship-to-Ship Services
Quantifiable outcome
- Q1 2026 GAAP net income of $154 million, more than double prior-year period
- +2 more outcomes
Companies that use Teekay
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Teekay technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Teekay partnerships and signals
Strategic signalScale indicators10 records
Recent moves6 records
Expansion highlights5 records
Teekay competitors and assessment
Company assessmentBroad incumbents
- Star Bulk Carriers: Nasdaq-listed global dry bulk carrier and adjacent shipping peer. Comparable as a large, publicly-traded, in-house-managed shipping operator facing similar cyclical charter dynamics, though focused on dry bulk rather than crude tankers.
- Costamare Inc. Greek-based shipping operator with containership, dry bulk, and tanker exposure. Comparable as a publicly-listed, multi-segment shipping peer, though tankers are a smaller portion of its fleet than for Teekay.
Direct peers
- Torm plc: One of the world's largest MR (medium-range) product tanker operators listed on Nasdaq Copenhagen. Comparable in scale, in-house ship management approach, and exposure to global oil product flows that Teekay Tankers also services.
- DHT Holdings: Pure-play VLCC crude tanker operator listed on NYSE. While skewed to larger vessels, it competes for the same crude charter customers and faces identical spot rate dynamics as Teekay Tankers' Suezmax/Aframax segments.
- Frontline plc: One of the world's largest crude oil tanker operators with a fleet of VLCCs, Suezmaxes, and LR2/Aframax vessels. Directly comparable to Teekay Tankers in vessel mix (Suezmax, Aframax, LR2) and customer base (oil majors, traders, refiners).
- International Seaways: NYSE-listed crude tanker operator with a diversified mid-size fleet spanning VLCCs, Suezmaxes, Aframaxes, and Panamax tankers. Closely mirrors Teekay Tankers' mid-sized crude focus and time charter / spot mix.
- Euronav NV: Belgian crude tanker operator historically focused on VLCCs and Suezmaxes; merged with Frontline in 2024 but remains a directly comparable large crude tanker peer with similar charterer profile to Teekay Tankers.
- Scorpio Tankers: NYSE-listed mid-size tanker operator with a fleet of LR2, MR, and Handysize product/crude tankers. Overlaps with Teekay Tankers in LR2 and serves a similar oil major / trader customer base.
- Ardmore Shipping: NYSE-listed product and chemical tanker operator with MR and chemical tanker tonnage. Overlaps with Teekay in mid-size tanker product transportation and shares the in-house ship management / commercial management operating model.
Emerging players
- Capital Product Partners: Nasdaq-listed shipping partnership with exposure to crude/product tankers alongside containers and LNG. The tanker fleet overlaps with Teekay's Suezmax and MR segments, though the partnership is smaller scale and more diversified.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Teekay social profiles
Digital presenceTeekay compliance and trust
Trust signalCompliance3 records
Teekay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Teekay leadership team
Management profileNumber of profiles
Profiles8 records
Teekay subsidiaries and ownership
Company hierarchySubsidiaries2 records
Teekay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Teekay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Teekay
What does Teekay do?
Teekay is a marine energy transportation company that operates a fleet of approximately 34 owned double-hull mid-sized tankers (Suezmax, Aframax, and LR2 vessels) for international crude oil and refined product transportation. Through its subsidiaries it also provides commercial ship management services to third-party shipowners, bunker fuel procurement and delivery, and full-service lightering and ship-to-ship transfer operations in North America, Central America, and the Caribbean Sea.
Is Teekay a public or private company?
Teekay is a public company. It is classified as public and is currently operating.
When was Teekay founded?
Teekay was founded in 1973. It employs 1,001 to 5,000 people.
Where is Teekay based?
Teekay is headquartered in Vancouver, Canada, in the North America region.
How does Teekay make money?
Three revenue lines are on record. Spot Tanker Charter Rates are the primary driver. The others are time Charter Contracts and marine Services.
Who are Teekay's main competitors?
Broad incumbents on record are Star Bulk Carriers and Costamare Inc.. Direct peers are Torm plc, DHT Holdings, Frontline plc, International Seaways, Euronav NV, Scorpio Tankers and Ardmore Shipping. Capital Product Partners is listed as an emerging player.
Does Teekay have an API?
No public API is recorded for Teekay.
What industry is Teekay in?
Teekay's product category is Marine Energy Transportation. Its primary akta.pro industry code is TLADABAC, Bulk Dry Cargo Carriers (Capesize/Panamax/Supramax/Handysize). Its NAICS code is 483111 and its SIC code is 4412.