Teekay Corp’s offshore and tanker arm reported adjusted net income of $40.1m for the fourth quarter, compared to $33.7m in the corresponding period a year ago.
Full-year profit rose from $72.8m in 2013 to $123.8m last year.
Quarterly revenue remained steady at $260.5m while full year turnover surpassed the $1bn mark by a fraction.
Peter Evensen, CEO for Teekay Offshore, said: “Despite the recent headwinds in the global energy markets, the partnership’s diversified portfolio of medium-term fixed-rate contracts with strong counterparties continues to generate a stable stream of cash flows which are not linked to global oil prices.
“Teekay
