# Teekay Tankers Teekay Tankers is an Asset Manager based in Hamilton, Bermuda. ## Overview - **Organization type:** Asset Manager - **Headquarters:** Hamilton, Bermuda - **Region:** North America - **Address:** Hamilton, Bermuda - **Founded:** 2007 - **Assets under management:** Undisclosed - **Website:** teekaytankers.com ## Regulatory record - **Reports private funds:** No ## About Teekay Tankers was formed in 2007 as a spin-off from Teekay Corporation, a maritime shipping conglomerate founded by J. Torben Karlshoej. Created to give investors direct exposure to the tanker segment, it took ownership of a legacy crude and product carrier fleet while leaving LNG and offshore operations to its parent and sibling entities. Headquartered in Hamilton, Bermuda, with operational management run from Vancouver, the company emerged as a standalone public vehicle with a mandate to manage mid-sized Aframax, Suezmax, and LR2 tankers. The firm deploys capital almost entirely into physical tanker assets, earning revenue through voyage charters and time charters on global seaborne trade routes. Its fleet of roughly 40–50 vessels moves crude oil, gasoline, naphtha, and diesel across corridors linking the Arabian Gulf to East Asia, the US Gulf Coast to Europe, and West Africa to India. Rather than locking in long-term fixed-rate contracts, management leans into a spot-market strategy — a structural choice that amplifies earnings when geopolitical disruption or refinery dislocations widen rate spreads, as occurred in 2022 following the Russian invasion of Ukraine. Confirmed asset transactions include the 2021 sale of nine older vessels and subsequent acquisitions of modern, eco-design tankers built at South Korean yards. Led by President and CEO Kenneth Hvid and CFO Stewart Andrade, the firm operates from its registered head office in Bermuda with chartering and technical management hubs in Vancouver and Singapore. March 2024: Teekay Tankers completed a merger with its publicly listed subsidiary, Teekay LNG Partners, reuniting certain legacy fleet assets under a simplified corporate structure while maintaining the pure-play tanker equity listing. The company does not manage outside capital, operating instead as a traditional publicly traded ship-owner — retain its earnings, buy vessels, and pay dividends from free cash flow. Unlike diversified shipping conglomerates, Teekay Tankers offers a structural purity rare in maritime equities: it owns no container ships, bulk carriers, or offshore rigs. Governance sits with a Bermuda-domiciled board, while the Vancouver management layer executes the fleet strategy. That structure makes the firm a direct proxy for the tanker rate cycle, a feature that both concentrates risk and clarifies the investment thesis for the institutional investors, family offices, and hedge funds that trade its stock. ## Sectors - Energy Transition & Renewables - Mobility & Transportation - Infrastructure ## Offices - Vancouver, Canada - Singapore ## People - Kenneth Hvid — President and Chief Executive Officer - Stewart Andrade — Chief Financial Officer ## Questions ### Who runs investment and chartering decisions at Teekay Tankers? Kenneth Hvid serves as President and CEO, overseeing the firm's commercial and fleet strategy. The chartering desk operates globally from offices in Vancouver and Singapore, deploying the fleet on spot voyages and shorter-term time charters based on rate forecasts and trade-pattern analysis. Stewart Andrade is CFO and manages the capital-allocation side, including vessel acquisitions, divestments, and dividend policy. ### What is the relationship between Teekay Tankers and Teekay Corporation? Teekay Tankers was spun out of Teekay Corporation in 2007 as a separate public entity. Teekay Corporation, founded by J. Torben Karlshoej, historically acted as the general partner and sponsor, but the two now operate as independent companies with overlapping large shareholders. In 2024, Teekay Tankers merged with Teekay LNG Partners, which had previously also been a separate Teekay Corporation affiliate. ### How does Teekay Tankers fit into an institutional portfolio? As a publicly traded ship-owner with no diversification outside crude and product tankers, it functions as a high-beta liquid proxy for energy logistics and trade-route disruption. Allocators use it to express a view on oil flows without taking commodity price risk directly. Hedge funds and maritime-focused family offices often hold it as a tactical position; long-only managers treat it as a dividend vehicle during strong rate cycles. ### What vessel classes does Teekay Tankers operate? The fleet concentrates on mid-sized tankers: Suezmaxes (roughly 1 million-barrel capacity), Aframaxes (750,000 barrels), and LR2 product carriers. The firm deliberately avoids the very large crude carriers that dominate the Arabian Gulf-to-China route, focusing instead on the more fragmented regional trades where charter rate volatility is higher and supply discipline within the vessel class is tighter. ## Related profiles - [Calumet, Inc.](https://altss.com/profile/calumet-inc-de) - [LCI Industries](https://altss.com/profile/lci-industries) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/teekay-tankers-ltd Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology