Teekay Tankers Company Description
Teekay Tankers owns and manages a fleet of about 10 double-hull tankers, which it charters to such customers as Shell International Trading and Shipping, Skaugen PetroTrans, and Valero for use in seaborne transportation of crude oil. Teekay Tankers' fleet has an overall capacity of about 2 million deadweight tons (DWT). The company generates revenue by selling both short-term voyage charters and longer-term time charters. Teekay Corporation, a leading marine transporter of petroleum products, retains a majority interest in Teekay Tankers, which it spun off in 2007. A Teekay Corporation subsidiary manages the Teekay Tankers fleet.
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The Company Description provides a historical perspective of Teekay Tankers's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Teekay Tankers's evolution in the marketplace.
