On the strength of a buoyant rates market, New York-listed Teekay Tankers can now claim to be net-debt free as it contemplates how it will buy out a remaining $208m obligation in lease financing.
Chief financial officer Stewart Andrade revealed the net-debt milestone on an earnings call with equity analysts on Thursday, saying the figure had been $28.5m at the end of the second quarter but since extinguished by strong cash flows in the current reporting period.
