Teekay Tankers

Middle East – October 29, 2026 -- Spot tanker rates reached record highs in September as geopolitical disruption in the Strait of Hormuz and the Red Sea lengthened voyages and cut trade efficiency, according to a Teekay Tankers market update.

Hormuz shuttle trade ties up VLCC capacity

Middle East Gulf crude exports have recovered despite continuing attacks on ships. Several producers now run a dedicated fleet of VLCCs through the Strait of Hormuz to transfer crude ship-to-ship (STS) in the Gulf of Oman. The arrangement absorbs a large number of vessels and adds extended waiting times, which pushed VLCC spot rates to record levels.

Global – October 27, 2026 -- Teekay Tankers has named this quarter's winners of its Hazard Reporting Awards, recognizing the vessel teams that reported the highest number of hazards through the company's cloud-based digital platform.

Teekay Tankers turns hazard reporting into a quarterly team contest

The company has gamified the process. Vessels are placed into teams that compete every quarter to report the most hazards. Winners are recognized publicly and receive a prize.

Seafarers log unsafe acts and conditions on a mobile-friendly platform

Crews use the platform to flag unsafe acts or unsafe conditions on board as they notice them. Early and frequent reporting lets senior management implement corrective action outside regular on-board inspections.