Teekay Marine Markets – Tanker Update, January 2017
January 20, 2017
Headwinds Anticipated for 2017 but Brighter Prospects for the Tanker Market on the Horizon
In 2016, earnings across the tanker sector did average lower than 2015 – yet still met the 10 year average. 2017 is expected to continue to be a challenging year for tanker earnings but we think that the bottom might be reached in 2018. Given our outlook on supply and demand, our prospects from 2018 onwards are much brighter and we would expect a pretty strong tanker market to emerge towards the end of the decade. Take a look:
Did you know we film this update in one take?
This month, we took you behind the scenes so you can see for yourself!
Forward Looking Statements
This video and content contains forward-looking statements which reflect the Company’s current views with respect to certain future events and performance, including statements regarding: tanker market fundamentals, including the balance of supply and demand in the tanker market, and spot tanker charter rates. The following factors are among those that could cause actual results to differ materially from the forward-looking statements, which involve risks and uncertainties, and that should be considered in evaluating any such statement: changes in spot market tanker rates; changes in the production of or demand for oil; changes in trading patterns significantly affecting overall vessel tonnage requirements; greater or less than anticipated levels of tanker newbuilding orders or greater or less than expected level of tanker scrapping; changes in applicable industry laws and regulations and the timing of implementation of new laws and regulations; changes in the typical seasonal variations in tanker charter rates and other factors discussed in Teekay Tankers’ filings from time to time with the United States Securities and Exchange Commission, including its Report on Form 20-F for the fiscal year ended December 31, 2015 and its Reports on Form 6-K for the quarterly periods ended September 30, 2016, June 30, 2016 and March 31, 2016. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.