Teekay Tankers is in a strong cash position to start renewing its fleet, but this is likely to be through secondhand deals at first.
The US-listed owner of 42 suezmaxes and aframax/LR2s had a total liquidity of $691.5m at 31 March, including $369.7m in cash and cash equivalents.
Chief executive Kevin told an earnings call: “It’s obviously a fantastic situation to be in after the markets that we’ve had to come through over the last few years.”
