On May 14, Teekay Corporation and Teekay Tankers released their Q1-2026 earnings results.

The Teekay Group posted strong financial results for the first quarter of 2026 as spot rates in the first quarter were among the highest ever recorded for this period, fueled by geopolitical tensions in Venezuela and Iran. The U.S. blockade and the effective closure of the Strait of Hormuz, an unprecedented event which has not directly impacted the operations of our vessels, continues to disrupt the oil and tanker markets and has propelled our second quarter of 2026 to-date tanker rates to new record levels.

While rates have decreased from the extreme highs in the beginning of the second quarter, we are still chartering vessels at strong rates. Our fleet renewal strategy remains on track, balancing acquisitions of modern tonnage with the sale of older ships.

In April 2026, Teekay Tankers agreed to purchase two Korean resale Suezmax tanker newbuildings for a total of $190 million with expected deliveries in 2027 and, in May 2026, sold one 2009-built Suezmax vessel for $53.5 million.

In total since the beginning of the year, we have now acquired or agreed to acquire five mid-size tankers and sold or agreed to sell four older vessels. These measured steps continue to modernize our fleet while maintaining significant operating leverage to the tanker market.

Shareholders are also set to benefit from strong returns. Teekay Corporation has declared a special cash dividend of $1.00 per common share, payable on June 2, 2026, to shareholders of record on May 26. Consistent with Teekay Tankers’ dividend policy, we declared a regular quarterly cash dividend of $0.25 per share for the quarter ended March 31, 2026, along with a special dividend of $1.00 per share. Together, this represents a combined dividend of $1.25 per common share, payable in June.

While the near‑term tanker market outlook remains difficult to predict and highly sensitive to geopolitical developments, Teekay is well positioned to generate free cash flow and continue renewing its fleet. Supported by low cash flow break‑even levels and significant investment capacity, we remain confident in our ability to navigate volatility and deliver long‑term value.

Below you will find the highlights from our earnings results. For detailed information, visit our Investor pages:$TK, and $TNK.

The post Recap: Teekay Group First Quarter 2026 Earnings Results appeared first on Teekay.

HAMILTON, Bermuda, May 13, 2026 (GLOBE NEWSWIRE) — Teekay Corporation Ltd. (Teekay or the Company) (NYSE:TK) today reported an update for the three months ended March 31, 2026. The update and Teekay Group’s earnings presentation are available on the Company’s website here.

In addition, the Company’s Board of Directors declared a special cash dividend in the amount of $1.00 per outstanding common share. This dividend is payable on June 2, 2026 to all Teekay shareholders of record on May 26, 2026.

About Teekay

Teekay is a leading provider of international crude oil marine transportation and marine services. Teekay provides these services through its controlling ownership interest in Teekay Tankers, a leading owner and operator of mid-sized crude tankers. Teekay Tankers has a fleet of 33 double-hull tankers (including 14 Suezmax tankers and 18 Aframax / LR2 tankers, and 1 VLCC) and has three time chartered-in tankers. In addition, Teekay Tankers manages and operates vessels for the Australian government and Australian energy companies as part of the marine services provided by Teekay Tankers and owns a ship-to-ship transfer business that performs full-service lightering and lightering support operations in the U.S. Gulf and Caribbean.

Teekay’s common stock is listed on the New York Stock Exchange where it trades under the symbol “TK”.

For Investor Relations
enquiries contact:

E-mail: investor.relations@teekay.com
Website: www.teekay.com

The post Teekay Corporation Ltd. First Quarter 2026 Update; and Declares a Special Dividend appeared first on Teekay.

HAMILTON, Bermuda, May 13, 2026 (GLOBE NEWSWIRE) — Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE: TNK) today reported the Company’s results for the three months ended March 31, 2026 and announced that its Board of Directors has declared its fixed quarterly cash dividend of $0.25 per share for the quarter ended March 31, 2025. In addition, the Board of Directors has declared a special cash dividend of $1.00 per share. The cash dividends are payable on June 2, 2026 to all shareholders of record as at May 26, 2026.

The full earnings release and Teekay Group’s earnings presentation are available on the Company’s website here.

About Teekay Tankers

Teekay Tankers has a fleet of 33 double-hull tankers (including 14 Suezmax tankers, 18 Aframax / LR2 tankers, and 1 VLCC tanker), and also has three time chartered-in oil and product tankers. Teekay Tankers’ vessels are typically employed through a mix of spot tanker market trading and short- or medium-term fixed-rate time charter contracts. In addition, Teekay Tankers manages and operates vessels for the Australian Government and Australian energy companies as part of the marine services provided by the Company and owns a ship-to-ship transfer business that performs full service lightering and lightering support operations in the U.S. Gulf and Caribbean. Teekay Tankers was formed in December 2007 by Teekay Corporation Ltd.

Teekay Tankers’ Class A common shares trade on the New York Stock Exchange under the symbol “TNK.”

For Investor Relations
enquiries contact:

E-mail: investor.relations@teekay.com
Website: www.teekay.com

The post Teekay Tankers Ltd. Reports First Quarter 2026 Results; and Declares Dividends appeared first on Teekay.

3 packed days of bringing back and reinforcing what makes us successful here in Teekay

It is difficult to summarize such a memorable event but here is a glimpse of what we shared in our latest Senior Officers Conference:

The post Sea and Shore Gather at our Senior Officers Conference in Phuket appeared first on Teekay.