Teekay Tankers reports Fourth Quarter and Annual 2025 Results and Declares Declares

 HAMILTON, Bermuda, (GLOBE NEWSWIRE) — .New York-listed Teekay Tankers has agreed to sell the only VLCC in its fleet for $84.5m in a deal that leaves the shipowner focused solely on suezmax, aframax, and LR2 tonnage. The company said it has sealed a deal to sell its 2013-built VLCC tanker 319,000-dwt Singapore Spirit (IMO 9602289, MMSI 538011874 -sailing under the flag of Marshall Islands. )  for $84.5m, which is expected to result in a gain on sale of $22.5m in the second quarter of 2026 when the vessel is expected to be delivered to the purchaser.

Last month the company sold one 2007-built suezmax tanker

Last month the company also sold one 2007-built suezmax tanker and agreed to sell one 2009-built suezmax tanker for combined total proceeds of $73m, which is expected to result in gains on sales of $22.6m in the first quarter of 2026. The 2009-built suezmax tanker is expected to be delivered to the purchaser in the first quarter of 2026.

Continuing its fleet renewal plan

The company’s top management commented on the recent sales and acquisition moves, mentioning that it is continuing its fleet renewal plan: “Since reporting earnings in October 2025, we have acquired three 2016-built aframax tankers for $141.5m and we bareboat chartered the vessels back to the seller on short-term contracts with full commercial and technical management to be transferred to us upon redelivery in the second and third quarters of 2026.

Maintaining significant operating leverage to the strong tanker market.

“In addition, we also sold, or agreed to sell, two older suezmaxes and our only VLCC for combined gross sales proceeds of $157.5m. The combination of the sale and purchase transactions since the beginning of 2025 has reduced our average fleet age and improved our fleet profile, while also maintaining significant operating leverage to the strong tanker market.”

A fleet of 35 double-hull tankers

Teekay Tankers currently has a fleet of 35 double-hull tankers (including 16 suezmax tankers, 18 aframax / LR2 tankers, and 1 VLCC tanker), and also has three time chartered-in oil and product tankers. It is noteworthy that Teekay Tankers’ Class A common shares trade on the New York Stock Exchange NYSE under the symbol “TNK.”

The near-term outlook for the tanker market

Regarding the near-term outlook for the tanker market, the firm believes that it remains strong, driven by a combination of positive underlying tanker supply and demand fundamentals and various geopolitical factors which are driving trade inefficiencies and tonne-mile demand for the compliant fleet of tankers. However, the longer-term outlook is highly uncertain, the company says, and will depend to a large extent, on how the various geopolitical factors currently supporting the tanker market develop in the coming months and years.

The strategic shift

It is noteworthy that In late July, Riviera reported on this strategic shift, highlighting Teekay’s recent addition of a modern Suezmax tanker. The company purchased 2017-built, 157,374-dwt Ulsan Spirit – formerly known as Nordic Thunder – marking its second vessel acquisition of the year. Additionally, Teekay agreed to acquire the remaining 50% ownership interest in VLCC Hong Kong Spirit from its joint venture partner.

Fourth Quarter and Annual 2025 Results

On the other hand Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) reported the Company’s results for the three months and year ended December 31, 2025, and announced that its Board of Directors has declared its regular, fixed quarterly cash dividend of $0.25 per share for the quarter ended December 31, 2025. The cash dividend is payable on March 13, 2026 to all shareholders of record as at March 2, 2026.
The full earnings release and Teekay Group’s earnings presentation are available on the Company’s website here.

About Teekay Tankers 

Teekay Tankers has a fleet of 35 double-hull tankers (including 16 Suezmax tankers, 18 Aframax / LR2 tankers, and 1 VLCC tanker), and also has three time chartered-in oil and product 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. In addition, Teekay Tankers manages and operates vessels for the Australian Government and Australian energy companies as part of the marine services provided by the Company and 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 Ltd.

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