December 3, 2012
The second half of 2012 has been marked by a significant decrease in crude oil tanker demand. Conventional tanker rates in the third quarter of 2012 were negatively affected by a number of seasonal factors, including an increased use of domestic oil in the Middle East. However, while rates continue to be low as we head into Q4, there are increases in some areas of the conventional market, such as Aframax rates in the Caribbean.
To learn about the stronger rates that are expected as we head into the winter months, watch thelatest market update from Christian Waldegrave, Teekay Market Analyst. For more on Teekay’s conventional oil and gas business, follow us on Facebook and Twitter, and visitwww.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 December 31, 2011, March 31, 2012, June 30, 2012 and September 30, 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.