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Teekay sees ‘positive indicators’ for tanker market

US-listed company is counting on a recovery in the tanker market in the medium term, although the near-term outlook remains uncertain due to the reported rise in coronavirus cases

Teekay Tankers, which posted a $21m loss in the first quarter, has declared options to repurchase six vessels

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The owner and operator of 47 very large crude carriers and 28 suezmax tankers also raises the crewing crisis and says the deployment of elderly tankers to illicit trades is curbing scrapping

Tanker rates recovery elusive as owners struggle in first-quarter

‘Demand [for crude] is partly being satisfied by drawing down on inventories, resulting in reduced demand for transportation,’ DHT said.

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