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Teekay Tankers Ltd. Reports First Quarter 2023 Results and Updated Capital Allocation Plan

Teekay Tankers Ltd.
Teekay Tankers Ltd.

HAMILTON, Bermuda, May 11, 2023 (GLOBE NEWSWIRE) -- Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company's results for the quarter ended March 31, 2023 and announced the Board of Directors has approved an update to the Company’s capital allocation plan.

The full earnings release and earnings presentation are available on the Company’s website here.

Details of the Company’s updated capital allocation plan are available on the Company’s website here.

About Teekay Tankers

Teekay Tankers has a fleet of 44 double-hull tankers (including 25 Suezmax tankers and 19 Aframax / LR2 tankers), and also has eight time chartered-in tankers. Teekay Tankers’ vessels are typically employed through a mix of spot tanker market trading and short- or medium-term fixed-rate time charter contracts. Teekay Tankers also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business that performs full service lightering and lightering support operations in the U.S. Gulf and Caribbean. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its oil tanker business.

Teekay Tankers’ Class A common stock trades on the New York Stock Exchange under the symbol “TNK.”

For Investor Relations
enquiries contact:

E-mail: TeekayTankers@IGBIR.com
Website: www.teekay.com