August saw the easing of tanker rates due to a decrease in demand for oil stockpiling. To learn more about the current conventional tanker market, including an updated market projection for the rest of 2012 and into 2013, watch this video update from Teekay Analyst Christian Waldegrave. This video was filmed on location at the Jefferies 2012 Global Shipping Conference in New York City.

For more information on the tanker market (including current tanker rates), visit www.teekaytankers.com.

FORWARD LOOKING STATEMENTS

This video and content contains forward-looking statements which reflect the Company's current views with respect to certain future events and performance, including statements regarding: tanker market fundamentals, including the balance of supply and demand in the tanker market, and spot tanker charter rates. The following factors are among those that could cause actual results to differ materially from the forward-looking statements, which involve risks and uncertainties, and that should be considered in evaluating any such statement: changes in spot market tanker rates; changes in the production of or demand for oil; changes in trading patterns significantly affecting overall vessel tonnage requirements; greater or less than anticipated levels of tanker newbuilding orders or greater or less than expected level of tanker scrapping; changes in applicable industry laws and regulations and the timing of implementation of new laws and regulations; changes in the typical seasonal variations in tanker charter rates and other factors discussed in Teekay Tankers' filings from time to time with the United States Securities and Exchange Commission, including its Report on Form 20-F for the fiscal year ended December 31, 2011 and its Reports on Form 6-K for the quarterly periods ended  June 30, 2011, September 30, 2011, December 31, 2011 and March 31, 2012. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.