Teekay(US:TK)2024-08-04 05:43Financial Performance - Teekay Tankers reported an adjusted EBITDA of $124 million in Q2 2024[4] - Adjusted net income for Q2 2024 was $107 million, or $3.11 per share[4] - The company declared a fixed quarterly dividend of $0.25 per share[4] - Free Cash Flow (FCF) yield of approximately 20% based on last 12 months average spot rates[14] Spot Rate and Market Dynamics - Q2 2024 mid-size tanker spot rates averaged above $40,000 per day for the third consecutive quarter[5] - Eight vessels in-chartered at an average rate of $26,800 per day, mark-to-market value of approximately $53 million[8] - Q3 2024 to-date, 40% of Suezmax spot ship days and 41% of Aframax/LR2 spot ship days have been booked[8] Fleet Activity - Two 2005-built vessels were sold for $64.8 million[4] - One 2021-built Aframax was purchased for $70.5 million[4]