Teekay Tankers Ltd. reported GAAP net income of $92.1 million and adjusted net income of $53.3 million for the year to date. For the third quarter of 2025, total revenues were $229.0 million, compared to $232.9 million in the second quarter of 2025 and $274.4 million in the third quarter of 2024. Voyage charter revenues for the third quarter of 2025 were $189.2 million, while time-charter revenues were $2.1 million and other revenues were $37.8 million. Voyage expenses for the third quarter of 2025 were $82.7 million, vessel operating expenses were $61.0 million, and charter hire expenses were $9.7 million. The increase in GAAP net income for the third quarter of 2025 compared to the second quarter was mainly due to a $25.9 million gain from the sale of three vessels, an $8.3 million gain on distribution from equity-accounted investment, and a $4.6 million unrealized gain on investment in marketable securities. In the second quarter of 2025, the company recorded a $13.9 million gain from the sale of two vessels. Teekay Tankers noted that spot tanker rates remained above the historical average for a third quarter, supported by increased seaborne crude oil trade volumes and the unwinding of OPEC+ supply cuts. The company stated that these trends have continued into the fourth quarter, with spot rates strengthening and market conditions anticipated to remain favorable.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Teekay Tankers Ltd. published the original content used to generate this news brief on October 29, 2025, and is solely responsible for the information contained therein.
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