The expanded Teekay Tankers has posted a loss for the fourth quarter as rates fell.

The company completed its merger with Tanker Investments Ltd (TIL) in November, increasing its fleet by 18 vessels to 58 conventional tankers.

But the net loss was $1.87m, from a $9.08m profit in 2016, as revenue dropped to $105.22m from $123.19m a year ago.

Suezmax time charter equivalent (TCE) revenue dropped to $16,644 per day from $23,495, while the aframax figure was $18,794, against $19,238.