More tanker repurchases could be in the offing for Teekay Tankers as the company looks to navigate an uncertain market.
The New York-listed, Vancouver-based shipowner has $373m in liquidity, no debt maturities until 2023 and the option to buy back eight more tankers up to the end of the year after spending $57m on two suezmaxes earlier this month.
"It's certainly possible, and we're looking at all of those sale and leasebacks," Teekay Tankers chief financial officer Stewart Andrade said on the company's fourth-quarter earnings call when asked if it could continue to wind those deals down.
