Tankers was Teekay Tankers’s largest segment in fiscal 2024, bringing in $547.26M of $659.08M (83%).
| Statement Business Segments | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|---|---|---|
| Tankers | $1.06B | $669.33M | $547.26M | |||||
| Conventional Tankers | — | — | — | |||||
| Marines Services & Other | $114.85M | $11.71M | $111.82M | |||||
| Ship To Ship Transfer | — | — | — | |||||
| Ship-To-Ship Transfer | — | — | — | |||||
| Total | $1.18B | $681.05M | $659.08M |
Teekay Tankers brought in $659.08M from its two segments in fiscal 2024, the year ended December 31, 2024. That was down 3.2% from $681.05M in fiscal 2023. Tankers was the largest at $547.26M (83.0%), ahead of Marines Services & Other at $111.82M (17.0%).
Compared with fiscal 2023, Marines Services & Other grew 854.8% to $111.82M, while Tankers fell 18.2% to $547.26M. From fiscal 2022 to 2024, combined revenue from these segments fell from $1.18B to $659.08M, a compound annual decline of 25.2%. Tankers' share of the total fell from 90.3% to 83.0%.
Voyage Charters - Suezmax was Teekay Tankers’s largest product and service line in fiscal 2023, bringing in $669.33M of $1.39B (48%).
| Product and Service | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|---|---|---|
| Voyage Charters - Suezmax | $340.54M | $259.08M | $557.97M | $669.33M | ||
| Voyage Charters - Aframax & Lr2 | $307.55M | $172.89M | $481.29M | $652.15M | ||
| Voyage Charters - Aframax | — | — | — | — | ||
| Voyage Charters - Full Service Lightering | $93.72M | — | — | — | ||
| Voyage Charters - Lr2 | — | — | — | — | ||
| Commercial Management, Other Revenue | $7.02M | $4.85M | $94.41M | $3.87M | ||
| Time-Charter | — | $46.16M | $14.74M | — | ||
| Time Charters - Suezmax | $107.54M | $20.39M | $49.00K | $14.28M | ||
| Other | $17.03M | $10.31M | — | $11.82M | ||
| Time Charters - Aframax & Lr2 | $20.06M | $25.77M | $14.69M | $16.87M | ||
| Time Charters - Aframax | — | — | — | — | ||
| Management Fees & Other, Other Revenue | — | — | $24.98M | $11.71M | ||
| Ship-To-Ship Support Services, Other Revenue | $9.62M | $5.47M | $4.57M | $7.95M | ||
| Time Charters - Lr2 | — | — | — | — | ||
| Lng Terminal Management, Consultancy, Procurement & Other, Other Revenue | $392.00K | — | — | — | ||
| Total | $903.47M | $544.91M | $1.19B | $1.39B |
Teekay Tankers brought in $1.39B from its eight product and service lines in fiscal 2023, the year ended December 31, 2023. Teekay Tankers regrouped these lines after fiscal 2022, so the total does not compare directly with that year's $1.19B. Voyage Charters - Suezmax was the largest at $669.33M (48.2%), ahead of Voyage Charters - Aframax & Lr2 at $652.15M (47.0%) and Time Charters - Aframax & Lr2 at $16.87M (1.2%). The other five lines brought in $49.62M combined.
Compared with fiscal 2022, Voyage Charters - Aframax & Lr2 grew 35.5% to $652.15M and Voyage Charters - Suezmax grew 20.0% to $669.33M.
Teekay Tankers began breaking out Management Fees & Other, Other Revenue in fiscal 2022, when it brought in $24.98M. Teekay Tankers stopped reporting Voyage Charters - Full Service Lightering ($93.72M in fiscal 2020), Time-Charter ($14.74M in fiscal 2022) and Lng Terminal Management, Consultancy, Procurement & Other, Other Revenue ($392.00K in fiscal 2020) as separate lines.
Teekay Tankers (TNK) reports its revenue by statement business segments and by product and service. In fiscal 2024, Tankers was its largest segment, bringing in $547.26M (83.0% of the total), followed by Marines Services & Other at $111.82M (17.0%).
Tankers was Teekay Tankers' largest segment in fiscal 2024, bringing in $547.26M, or 83.0% of the $659.08M total across its two segments.
Voyage Charters - Suezmax was Teekay Tankers' largest product and service line in fiscal 2023, bringing in $669.33M, or 48.2% of the $1.39B total across its eight product and service lines.
Marines Services & Other grew faster than Tankers in fiscal 2024, up 854.8% from $11.71M to $111.82M. Tankers fell 18.2% to $547.26M.
Every figure comes from Teekay Tankers' annual financial filings, as reported. Each line keeps the name Teekay Tankers gives it, and years follow its fiscal calendar.
Teekay Tankers' revenue by statement business segments goes back to fiscal 2016, with figures through fiscal 2024. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.