Canada’s Teekay Tankers reported strong profits on Thursday driven by a “new normal” of oil trading patterns that have significantly increased voyage distances.
The New York-listed company posted net profit in the second quarter of $151m, up from $29m in the previous year, after becoming a prime beneficiary of the post-Russia invasion shake-up of long-haul crude exports.
Revenue for the midsize tanker specialist was at $371m, up from $242m.
