NewYork-listed Teekay Tankers booked a gain of $16.9m for the period to erase aloss of $3.5ma year ago.
Adjustedearnings per share of $0.11 were a cent ahead of what Wall Street analysts had predicted.
“Theincrease in adjusted net income attributable to shareholders of Teekay Tankersis primarily due to stronger spot rates in the first quarter of 2014 ascompared to the same period in the prior year and an increase in interestincome recognized from the company's investment in term loans,” it said.
