Teekay spin-off Tanker Investments Ltd (TIL) has taken its spending to just shy of $1bn with a strike for six suezmaxes this week.

Oslo-listed TIL is paying $315m for the modern tankers that are believed to have been purchased from George Economou’s Cardiff Marine.

TIL would only say that it had bought four 2009-built and two 2010-built tankers, all completed at Rongsheng Heavy Industries in China.

Sources