New York-listed Teekay Tankers is buying its parent’s Australian management services for $65m and splashing an unidentified amount of cash for all other management operations currently held by the owner.
The intra-group moves highlighted a third-quarter earnings report in which Teekay Tankers reported a profit that fell below consensus analyst projections.
Hvid on deals
New Teekay Tankers chief executive Kenneth Hvid said the buys pave that way for the company to become a fully integrated shipowner and the sole vessel operating platform within the group.
