Teekay publishes transcript of Teekay Group Q2 2026 earnings call
TNK•Rates, fleet moves and dividends
Spot rates averaged $109,200/day for Suezmax and $74,100/day for Aframax LR2; Q3 was booked at $104,800/day and $59,900/day on 44%.
Fleet renewal update: Teekay bought two Korean Suezmax newbuilds for $190 million and sold a 2009 Suezmax for $53.5 million, booking a $32.3 million gain.
It also completed a VLCC sale for $84.5 million in early July and expects about $23 million in gain in Q3. The company maintained its fixed quarterly dividend at $0.25/share.
Security conditions and capital allocation
Management avoided Red Sea transits and Strait of Hormuz calls, and described wider security exclusions as attacks spread across key oil-trade regions.
Dividend policy is under review with the board as cash builds; the CEO said the annual cadence remains, while capital allocation discussions have intensified.
Teekay Group Q2 2026 earnings call details
Teekay’s Q2 2026 earnings call drew CEO Kenneth Hvid, CFO Brody Speers, VP Finance Ryan Hamilton and Director of Research Christian Waldegrave.
