Tanker ordering is on the rise, but that does not appear to be keeping Kevin Mackay up at night.
The Teekay Tankers chief executive told analysts that he does not believe the recent uptick in tanker newbuilding deals will have a material impact on fleet supply in the medium term.
“The combination of a small orderbook and little spare shipyard capacity through mid-2026 virtually ensures low fleet growth over the next two to three years, with approximately 2% fleet growth expected this year, and negligible levels of fleet growth in both 2024 and 2025,” he said on a conference call to discuss...
