Teekay Tankers: Tanker Rates Stay High
Summary
- TNK has one of the largest fleet of tankers operating in the spot market.
- Tanker rates have been elevated due to Russian oil disruptions.
- As the full impact of Russian oil sanctions are felt in the coming months, expect tanker rates to stay elevated.
- The fly in the ointment is a potential recession in 2023, which could prompt more production cuts from OPEC+, which can hurt tanker rates.
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