Teekay Tankers
- Company typePublic
- Founded2007
- HeadquartersHamilton, Bermuda
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
Teekay Tankers firmographics
Firmographics- 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
Teekay Tankers industry classification
Industry- 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
Where Teekay Tankers is headquartered
LocationHeadquarters
- HQ city
- Hamilton
- HQ country
- Bermuda
Offices2 records
Markets served
Teekay Tankers business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Supply Chain, Others
Revenue model
- 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.
- 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.
- 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
| Model | Billing | Price |
|---|---|---|
| Other | Quarterly | Fixed Quarterly Cash Dividend |
| Other | One-time | Special Cash Dividend |
| Usage-based | Pay-as-you-go | Spot Tanker Day Rates |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Teekay Tankers product offering
Product offeringCore 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
Companies that use Teekay Tankers
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Teekay Tankers technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Teekay Tankers partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- BW LPG LimitedminorBW 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 GovernmentcoreTeekay 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
Teekay Tankers competitors and assessment
Company assessmentDirect 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
Teekay Tankers social profiles
Digital presenceTeekay Tankers financial estimates
Financial estimateRevenue estimate
Valuation estimate
Teekay Tankers leadership team
Management profileNumber of profiles
Profiles2 records
Teekay Tankers funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Teekay Tankers 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 Tankers
What does Teekay Tankers do?
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.
Is Teekay Tankers a public or private company?
Teekay Tankers is a public company. It is classified as public and is currently operating.
When was Teekay Tankers founded?
Teekay Tankers was founded in 2007. It employs 1,001 to 5,000 people.
Where is Teekay Tankers based?
Teekay Tankers is headquartered in Hamilton, Bermuda.
How does Teekay Tankers make money?
Three revenue lines are on record. Spot Tanker Rates are the primary driver. The others are time Charter Contracts and vessel Management Services.
Who are Teekay Tankers's main competitors?
Direct peers on record are Ardmore Shipping, Torm A/S, Frontline Ltd., DHT Holdings, International Seaways, Scorpio Tankers and Euronav NV. Broad incumbents are COSCO Shipping Holdings and Mitsui O.S.K. Lines. BW LPG Limited is listed as an emerging player.
Does Teekay Tankers have an API?
No public API is recorded for Teekay Tankers.
What industry is Teekay Tankers in?
Teekay Tankers's product category is Crude Oil Tanker Shipping. Its primary akta.pro industry code is TLADABAD, Liquid Bulk / Crude & Product Tanker Operators (VLCC/Suezmax/Aframax/MR), with a secondary code of TLADALAA, Crude Oil & Petroleum Products Tanker Transport. Its NAICS code is 483111 and its SIC code is 4412.