Teekay Tankers

Name

Teekay Tankers

Legal name

Teekay Tankers Ltd.

Website

https://teekaytankers.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Crude Oil Tanker Shipping

NAICS

Deep Sea Freight Transportation (483111)

SIC

Deep Sea Foreign Transportation Of Freight (4412)

akta.pro primary industry

Liquid Bulk / Crude & Product Tanker Operators (VLCC/Suezmax/Aframax/MR) (TLADABAD)

akta.pro secondary industries

Crude Oil & Petroleum Products Tanker Transport (TLADALAA), Crude Oil Tanker Shipping (EUALADAG)

Keywords

• Crude oil transportation
• Tanker shipping services
• Maritime vessel management
• Ship-to-ship transfers
• VLCC Suezmax Aframax

Headquarters

HQ city

Hamilton

HQ country

Bermuda

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Others

Revenue model

1. Spot Tanker Rates: Revenue generated from spot market trading of tanker vessels. Rates fluctuate based on geopolitical conditions, vessel class (VLCC, Suezmax, Aframax/LR2), and global oil demand. Q2 2026 VLCC rates reached $123,200/day, Suezmax $109,200/day, Aframax/LR2 $74,100/day.
2. Time Charter Contracts: Long-term charter agreements with major oil majors providing stable, predictable revenue. Management has secured these contracts to reduce spot market volatility exposure.
3. Vessel Management Services: Revenue from managing vessels for the Australian Government and providing marine services including ship-to-ship transfers in the U.S. Gulf and Caribbean.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Teekay Tankers operates a fleet of approximately 33-34 double-hull crude oil tankers across VLCC, Suezmax, and Aframax/LR2 vessel classes, providing international crude oil marine transportation services through spot market trading and time charter contracts. The company also performs ship-to-ship transfer services in the U.S. Gulf and Caribbean regions and manages vessels for the Australian Government under managed vessel contracts.

Product overview

Teekay Tankers Ltd. operates a single unified fleet of approximately 33-34 double-hull crude oil tankers across three vessel classes (VLCC, Suezmax, and Aframax/LR2), supplemented by marine services including ship-to-ship transfers and government vessel management. The company primarily employs vessels in the spot market with some time charter contracts, generating revenue from oil transportation and associated maritime services.

Differentiator

Problem solved

Functional benefit

Products and services

• Crude Oil Tanker Fleet (VLCC, Suezmax, Aframax/LR2) Fleet of approximately 33-34 double-hull crude oil tankers spanning VLCC (Very Large Crude Carriers), Suezmax, and Aframax/LR2 vessel classes, providing international crude oil marine transportation services to oil majors, energy trading companies, and government entities through spot market trading and time charter contracts.
• Ship-to-Ship Transfer Services Ship-to-ship transfer operations in the U.S. Gulf and Caribbean regions, enabling offshore cargo transfers between vessels at sea for crude oil shippers and energy trading customers.
• Government Vessel Management Services Managed vessel contracts through which Teekay Tankers provides vessel management and operational services for the Australian Government and other government clients.

Quantifiable outcome

• Record Q2 2026 adjusted net income of $194 million ($5.56 per share)
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered minor and core.

• BW LPG LimitedminorOthers · 29 May 2026BW LPG appointed Kevin James Mackay, former President and CEO of Teekay Tankers for a decade, to its Board of Directors. Mackay brings over 35 years of maritime and energy industry experience, with his appointment reflecting recognition of his leadership at Teekay Tankers.
• Australian GovernmentcoreOthersTeekay Tankers provides government vessel management services for the Australian Government, managing vessels under managed vessel contracts as part of the company's marine services operations.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ardmore Shipping: Ardmore Shipping operates MR product tankers and Aframax vessels in the Atlantic Basin, sharing Teekay's tanker business model and customer base of oil majors and traders. It is smaller but follows a similar spot-and-time-charter strategy.
• Torm A/S: Torm is a Denmark-based product and crude tanker operator with significant Aframax and LR2 exposure, highly comparable to Teekay Tankers' mid-size tanker operations. Both serve energy majors and traders with similar vessel class offerings.
• Frontline Ltd. Frontline is the largest publicly listed crude oil tanker operator globally, with a fleet spanning VLCC, Suezmax, and Aframax/LR2 segments. It competes head-to-head with Teekay Tankers for spot and time charter business from the same oil major customers across identical voyage routes.
• DHT Holdings: DHT is a pure-play VLCC operator that charters vessels to oil majors on both spot and time charter terms, directly comparable to Teekay's VLCC segment. The companies share exposure to VLCC day rate cycles and compete for similar crude transport tenders.
• International Seaways: International Seaways operates a diversified tanker fleet including VLCC, Suezmax, Aframax, and product tankers serving global crude and product routes. It mirrors Teekay's multi-class tanker strategy and competes for the same charter customers.
• Scorpio Tankers: Scorpio Tankers operates one of the largest fleets of product tankers globally, with both crude-carrying Aframax/LR2 vessels and clean product tankers. It overlaps with Teekay in the larger tanker classes and shares exposure to refined product and crude shipping cycles.
• Euronav NV: Euronav operates one of the world's largest fleets of VLCC and Suezmax tankers focused on crude oil transportation, directly overlapping with Teekay Tankers' core VLCC/Suezmax offering. Both companies compete for the same crude tanker charter contracts from international oil majors.

Broad incumbents

• COSCO Shipping Holdings: COSCO is one of the world's largest shipping conglomerates with significant crude tanker exposure through its energy shipping arm. As a Chinese state-backed broad incumbent, it competes with Teekay in the global crude tanker market while also dominating container and bulk shipping.
• Mitsui O.S.K. Lines: Mitsui O.S.K. Lines is one of Japan's largest diversified shipping groups with a substantial crude tanker fleet among many vessel types. It competes with Teekay in crude oil transportation while also operating containerships, dry bulk, and LNG segments.

Emerging players

• BW LPG Limited: BW LPG is the world's largest LPG carrier operator and appointed former Teekay CEO Kevin Mackay to its board in 2026. While focused on LPG rather than crude, it shares the maritime energy transport business model and management talent pool relevant to Teekay Tankers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/TeekayCorp
• Facebookfacebook.com/TeekayCorp

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Teekay Tankers