Teekay Tankers has taken another step in reshaping its crude carrier fleet, agreeing to acquire two Korean built suezmax resale newbuildings in a deal valued at approximately $190m, with delivery expected in 2027.
While the company has not disclosed details regarding the seller, shipyard, or vessel specifications, the transaction reflects a broader industry trend of tanker owners turning to the resale market to secure earlier delivery slots from South Korean yards as newbuilding availability remains tight.
For Teekay, the acquisition fits directly into an ongoing fleet renewal programme focused on replacing older tonnage with more modern, fuel-efficient vessels.
“We continue to progress our fleet renewal strategy, which includes acquiring modern tonnage in conjunction with selling older vessels,” said chief executive Kenneth Hvid. “In total since the beginning of the year, we have now acquired or agreed to acquire five mid-size tankers and sold or agreed to sell four older vessels.”
The latest suezmax purchase follows an active period of portfolio adjustments. In the first quarter, Teekay Tankers acquired three 2016-built aframax vessels for a combined $141.5m, while simultaneously selling a 2007-built and a 2009-built suezmax for total proceeds of $73m, generating gains of $22.7m.
The restructuring momentum has continued into the second quarter. In May, the company completed the sale of another 2009-built suezmax tanker for $53.5m, while a previously announced sale of a 2013-built VLCC for $84.5m is expected to close in June. Once completed, this will effectively mark Teekay Tankers’ exit from the VLCC segment, narrowing its focus to aframax and suezmax operations. The latest disposals are expected to contribute around $55m in gains for the second quarter.
Alongside fleet optimisation, the company has also been taking advantage of strong tanker market conditions through selective chartering activity. In March, one suezmax vessel was fixed for 10 to 12 months at $80,000 per day, followed in May by an aframax fixture secured for 12 months at $60,000 per day.
Once the latest transactions are completed, Teekay Tankers will operate a fleet of 38 vessels, including 33 owned ships, as it continues to reposition itself around a more focused mid-size tanker strategy.
