Teekay Tankers Ltd News

Bjorn Moller is retiring from Teekay Corporation’s Board of Directors, the shipowner announced Wednesday.Moller has more than 35 years of service with the Teekay, including 22 years as a board member and more than 20 years in senior management positions. He was Teekay’s President and Chief Executive Officer from 1998 to 2011.Moller also served as Vice Chairman of Teekay GP L.L.C., the general partner of Teekay LNG Partners L.P., Vice Chairman of Teekay Offshore GP L.L.C., the general partner of Teekay Offshore Partners L.P.

Teekay LNG Partners L.P. has announced that Brody Speers, the current Chief Financial Officer (CFO) of Teekay Gas Group Ltd., a management services company that provides services to the Partnership and its subsidiaries, has been appointed as Vice President, Corporate Finance, of Teekay Shipping (Canada) Ltd. (Teekay) and Scott Gayton, who currently serves as a Vice President at Teekay, has been appointed to assume the CFO position from Mr. Speers. Gayton brings over 20 years of finance and accounting experience, including most recently serving as CFO of Tanker Investments Ltd. from the time of its initial public offering until its merger with Teekay Tankers Ltd. (NYSE:TNK). Gayton will also continue to oversee capital markets transactions across the Teekay Group.

Teekay Tankers Ltd. has launched a vessel dashboard portal called The Helm that is designed to give pool partners a transparent, real-time direct link to commercial, technical and market data pertaining to their vessels.For Teekay Tankers CEO, Kevin Mackay, The Helm is a way Teekay Tankers can harness digital technology and big data tools to stay at the forefront of tanker market trends: “Our commercial team has been building out its service offering to customers and partners over the last couple of years. These services deepen our customer relationships and deliver a consistent revenue stream in all markets.”“Mackay continued, We have been in the tanker pool business for more than 10 years.

Teekay Corporation’s board of directors has elected Kenneth Hvid to succeed current president and CEO, Peter Evensen, who will retire January 31, 2017 after more than 13 years with the company. Hvid is presently serving as president and CEO of Teekay Offshore Group Ltd. “Kenneth Hvid is the natural successor to Peter Evensen as CEO of Teekay at this time,” said Teekay's Chairman, Sean Day. Hvid has served on the board of Teekay daughter companies, and has worked closely with all the business segments in Teekay in his previous role as Chief Strategy Officer.

The board of directors for Teekay Tankers Ltd. has declared a cash dividend of $0.09 per share for the quarter ended March 31, 2016.   The cash dividend is payable on June 3, 2016 to all shareholders of record as at May 30, 2016.

Teekay Tankers Ltd. reported adjusted net income attributable to its shareholders of $48.5 million, or $0.31 per share, for the quarter ended December 31, 2015, compared to $18.6 million, or $0.21 per share, for the same period in the prior year. The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share. The increase is primarily due to stronger spot tanker rates in the fourth quarter of 2015 compared to the same period in the prior year and an increase in fleet size related to the acquisition of 17 modern, mid-size tankers during 2015 and the expansion of the Company's chartered-in tanker portfolio in 2014 and 2015.

Teekay Corporation announced today it has entered into a framework cooperation agreement with the Export-Import Bank of China (CEXIM) for up to $1 billion in new loan facilities. The loan facilities would be made available to Teekay and its subsidiaries, including Teekay LNG Partners L.P., Teekay Offshore Partners L.P. and Teekay Tankers Ltd., to finance the construction or conversion of vessels from shipyards in China over the next three years. “We are very pleased to announce the signing of this framework agreement in Beijing, China as it further strengthens our existing relationship with CEXIM and represents yet another source of capital for the Teekay group,” said Vince Lok, Teekay Corporation's Executive Vice President and Chief Financial Officer.

Teekay Tankers Ltd. announced it has agreed to acquire a fleet of 12 modern Suezmax tankers currently owned by Principal Maritime Tankers, a portfolio company of funds managed by affiliates of Apollo Global Management, LLC, for an aggregate purchase price of $662 million. The acquisition is expected to be immediately accretive to Teekay Tankers' earnings, free cash flow and net asset value per share and, when combined with the company's existing fleet of 10 Suezmaxes, will make Teekay Tankers one of the largest owners of Suezmax tankers in the world.

Teekay Tankers Ltd. announced that Peter Evensen, Teekay Corporation’s president and chief executive officer, has rejoined Teekay Tankers’ board of directors.   Evensen previously served as a director of Teekay Tankers from October 2007 to June 2013.

Teekay LNG Partners L.P. announced changes to Teekay LNG’s board of directors. Jane Hinkley has been appointed to the chairmanship position succeeding C. Sean Day, who will remain a director of Teekay LNG and chairman of the partnership’s sponsor, Teekay Corporation. Hinkley has been a director of Teekay LNG for over 10 years and has management and board experience in the shipping and oil and gas industry, including serving as the managing director of Navion Shipping AS, and chief financial officer and managing director of Gotaas-Larsen Shipping Corporation, and currently serves on the board of directors of Premier Oil plc and Vesuvius plc.

MISC Bhd  is selling AET Tanker Holdings Sdn Bhd, which owns a fleet of 74 crude oil and product tankers, to US-listed Teekay Tankers Ltd, reports local media. AET is a wholly-owned subsidiary of Malaysia's MISC Bhd. and a major global shipowner and operator with a fleet of around 80 tankers including 13 VLCCs, 48 Aframaxes and four Suezmaxes. MISC is a subsidiary of Malaysian energy conglomerate Petronas. “MISC is not in a position to comment on Teekay’s business plans,” the shipping company’s corporate communications arm responded when asked to verify news reported by Oslo-based shipping press Tradewinds. “It is difficult to quantify the disposal gain at this point of time without the actual acquisition price,” Kenanga Research said.

Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million. The five vessels, which are expected to be delivered in the first quarter of 2015, were constructed in 2008, 2010 and 2011 at top tier shipyards in Japan and China. Upon delivery, the vessels will trade in the Teekay-managed Taurus LR2 Pool and Aframax RSA. "We are pleased to announce this acquisition of five, high quality, modern secondhand tankers at an attractive price, which, when combined with the increase in our in-chartered fleet over the past six months, is consistent with our stated strategy of increasing our exposure to an improving spot tanker market…

Teekay Tankers Ltd. announced the appointment of Mr. Kevin J. Mackay as Chief Executive Officer (CEO) of Teekay Tankers, effective June 20, 2014. Mr. Mackay will join Teekay Tankers from Phillips 66 Corporation (Phillips 66), where he is currently head of the global marine business unit for this industry-leading downstream company. In this role, he is responsible for all aspects of marine transportation, including chartering, operations, demurrage, strategy & freight trading, business improvement and marine risk management. He held a similar role as the General Manager, Commercial Marine at ConocoPhillips from 2009 to 2012 before the formation of Phillips 66. Mr. Mackay started his career working for Neptune Orient Lines in Singapore from 1991 to 1995. He then joined AET Inc.

Teekay Tankers Ltd. and Teekay Corporation today jointly announced the creation of Tanker Investments Ltd. (TIL), which will seek to opportunistically acquire, operate and sell modern secondhand tankers to benefit from an expected recovery in the current cyclical low of the tanker market. TIL has completed a $250 million private equity offering in which Teekay Tankers and Teekay have co-invested $25 million each for a combined 20 percent ownership interest in the new company.

Teekay Corporation and Teekay Tankers Ltd. announced that Bruce Chan, Chief Executive Officer of Teekay Tankers and President of Teekay Tanker Services, has informed the Company of his intention to resign from his position effective June 20, 2014 after more than 18 years of service with the Company. Peter Evensen, Teekay's President and Chief Executive Officer stated, "Bruce Chan has been a dynamic contributor to Teekay's growth and evolution over the past 18 years. He led our conventional tanker business through one of the toughest periods in its history and positioned it for a strong recovery. We appreciate the work he has done to lead this business. Bruce Chan said, "I have truly enjoyed working as part of the executive team at Teekay during its many years of growth.

Teekay Tankers Ltd. report an adjusted net loss of $6.3 million, or $0.08 per share, for the quarter ended June 30, 2013, compared to adjusted net income attributable to shareholders of Teekay Tankers of $0.9 million, or $0.01 per share, for the same period in the prior year. Teekay explain that the increase in adjusted net loss attributable to shareholders of Teekay Tankers is primarily the result of the change in employment of certain of the Company's vessels from fixed rates…

Teekay Tankers Ltd. Board of Directors  has voted to declare a fixed cash dividend of $0.03 per share for the quarter ended June 30, 2013. The cash dividend is payable on July 31, 2013 to all shareholders of record on July 19, 2013. Teekay Tankers currently owns a fleet of 31 double-hull vessels, including 11 Aframax tankers, 10 Suezmax tankers, seven Long Range 2 (LR2) product tankers (including four committed newbuildings), three Medium-Range (MR) product tankers and has two time-chartered in Aframax tankers…

Ultra-long-stroke units play leading role in major Teekay fuel-efficient tanker project. STX Offshore & Shipbuilding announced on April 8, 2013 that it had signed a contract to build four 113,000-dwt Long Range 2 (LR2) product tankers for Teekay Tankers Ltd. (Teekay Tankers), with an option for up to an additional 12 vessels. Each newbuilding will be powered by an MAN B&W G60ME-C engine and will satisfy IMO environmental standards as well as the shipowners' demand for fuel efficiency.

Award to be presented March 20, 2013 at the conclusion of the CMA's Shipping 2013 Annual Conference and Exposition. Mr. Peter Evensen, President and Chief Executive Officer (CEO) of Teekay Corporation (Teekay) has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2013. Mr. Evensen follows a long succession of influential maritime industry leaders as Commodore. The 2013 Commodore Award will be presented to Mr. Evensen on March 20, 2013 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition, at the Hilton Hotel in Stamford, Connecticut, USA. The Award is given each year to a person in the international maritime industry who has contributed to the growth and development of the industry.

Teekay Tankers Ltd. reports results for the three months ended June 30, 2012, pays out reduced dividend compared to Q1. In June 2012, Teekay Tankers completed the previously announced acquisition from [parent company] Teekay Corporation of 13 double hull conventional tankers, including seven crude oil tankers and six product tankers. "After the completion of our 13-vessel acquisition from Teekay Corporation in June, we continue to focus on managing employment of our significantly expanded fleet to achieve the right balance of downside protection through fixed-rate coverage and upside through spot market exposure," commented Bruce Chan , Chief Executive Officer of Teekay Tankers. Mr.

Teekay Tankers Ltd. (NYSE:TNK) announced today that it plans to offer 15,000,000 shares of Class A common stock of the Company in a public offering. Teekay Tankers expects to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of Class A common stock to cover any over-allotments. The Company expects to use the net offering proceeds to repay a portion of its outstanding debt under its revolving credit facility. Teekay Tankers Ltd. was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business. Teekay Tankers currently owns a fleet of nine double-hull Aframax tankers and six double-hull Suezmax tankers and time-charters in two double-hull Aframax tankers from third parties…

According to a report from Market Intelligence Center, Teekay Tankers Ltd. (TNK) was downgraded on June 22 by analysts at EVA Dimensions, LLC and the stock is now at $9.35, down $0.12 (-1.27%) on volume of 146,776 shares traded.    Source: www.marketintelligencecenter.com

Teekay Tankers Ltd. Teekay Tankers Ltd. (Teekay Tankers or the Company) today reported its first quarter results for 2011. During the quarter, the Company generated $15.7 million in Cash Available for Distribution(1). Today, Teekay Tankers declared a dividend of $0.25 per share(2) for the first quarter of 2011, which will be paid on May 27, 2011 to all shareholders of record on May 20, 2011. The first quarter dividend was calculated using the weighted average number of shares outstanding for the quarter ended March 31…