Teekay Tankers has revealed it is saving $8m on interest costs after a series of vessel buy-backs in recent months.
The US-listed owner has declared options to repurchase six aframaxes and two suezmaxes from leasing companies at a cost of $186m.
Speaking on a conference call with analysts, chief executive Kevin Mackay said the moves will be funded by a mixture of new leasebacks at lower interest rates, and existing bank finance.
