Teekay Tankers is pulling out of the VLCC segment, agreeing to sell its only supertanker in a deal that leaves the New York-listed owner focused squarely on suezmax and aframax tonnage.
The Kenneth Hvid-led company said it has struck a deal to sell the 2013-built, 318,700 dwt Singapore Spirit — previously known as Hong Kong Spirit — for $84.5m. The transaction is expected to bring in about $22.5m in the second quarter of 2026, when the vessel is scheduled for delivery to its new owner.
The Chinese-built VLCC was acquired in August 2025 from joint venture partner Wah Kwong Maritime Transport and has been trading in the Tankers International pool since September 2024.
The exit from the VLCC space also forms part of a broader reshuffle. Since late 2025, Teekay has been actively selling older tonnage, completing the disposal of a 2007-built aframax and a 2009-built suezmax for a combined $61.5m and booking gains of $21.7m. In January 2026, Teekay also sold a 2007-built suezmax and agreed to sell a 2009-built suezmax for a combined $73m, generating expected gains of $22.6m in the first quarter of 2026.
Meanwhile, the company has been adding younger ships, acquiring three 2016-built aframaxes for $141.5m, which have been bareboat chartered back to the seller on short-term deals, with full commercial and technical management transferring to Teekay upon redelivery in the second and third quarters of 2026.
Hvid said the combination of sales and purchases since the start of 2025 has reduced the fleet’s average age and improved its profile, while maintaining leverage to the strong tanker market.
Teekay Tankers currently owns a fleet of 35 ships, including 16 suezmaxes and 18 aframax/LR2 units, along with three chartered-in vessels and agreed-for-sale tonnage. Ten suezmaxss, seven aframax/LR2 tankers, and the VLCC heading for exit, are unencumbered.
