| Teekay Tankers Ltd. is engaged in the international marine transportation of crude oil through the operation of its oil tankers. As at December 31, 2011, its fleet consisted of 18 vessels, including chartered-in vessels, and new buildings on order. As at December 31, 2011, the Company owned nine Aframax tankers and six Suezmax tankers, time-chartered in two Aframax vessels from third parties, and owned a 50% interest in one VLCC newbuilding scheduled to deliver during the second quarter of 2013. As of March 1, 2012, eight of these vessels were operating in the spot market through participation in pooling arrangements managed, in whole or in part, by subsidiaries of Teekay Corporation. As of March 1, 2012, Teekay Corporation, through its 100%-owned subsidiary Teekay Holdings Ltd., had a 20.4% economic interest in the Company. |
