Teekay Tankers confirmed during its 19 February 2026 earnings call that it will exit the Very Large Crude Carrier (VLCC) segment following the agreed sale of the 2013-built Singapore Spirit (318,700 dwt) for $84.5 million. Delivery is scheduled for Q2 2026.
With this transaction, Teekay will operate a fleet focused exclusively on 16 Suezmax and 18 Aframax/LR2 tankers.
Simultaneously, market data published 21 February 2026 confirms that South Korea’s Sinokor Merchant Marine has completed a series of VLCC acquisitions, positioning it as the largest commercial VLCC operator globally.
Why It Matters for Maritime
The developments signal a redistribution of heavy crude capacity rather than a reduction.
Teekay is consolidating around mid-sized crude segments, while Sinokor is concentrating VLCC exposure under a single commercial platform. This alters chartering leverage dynamics in long-haul crude trades, particularly Middle East–Asia and Atlantic Basin routes.
Fleet concentration at the VLCC level can influence freight negotiations during cyclical upswings.
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