Teekay Tankers Ltd

Shipping
NYSE: TNK
UK
Teekay Tankers

Kent Alekson  [email protected]

"The Teekay Group, which includes Teekay Corp. (TK) and other companies, 
  said its Yamal LNG joint venture has been categorized as a "Blocked Person" 
  in connection with recent U.S. sanctions related to alleged shipments of Iranian 
  oil, due to the 50% ownership stake of China LNG Shipping (Holdings) Ltd.
       CLNG wasn't on the sanctions list but is 50% owned by Cosco Shipping 
  Tanker (Dalian) Co. Ltd., which was on last week's Treasury Department list." (9/30/2019)

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“Teekay Group has not traded and will not trade with Iran and will not act in contravention of any trading sanctions...” (The Royal Gazette, "Island LNG shipper caught up in US sanctions," 10/1/2019).

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"In addition, we have no future contracted loadings or discharges in any of those countries and intend not to enter into voyage charter contracts for the transport of oil or gas to or from Iran, Syria or Sudan. We believe that our compliance with these sanctions and our lack of any future port calls to those countries does not and will not adversely impact our revenues, because port calls to these countries have never accounted for any material amount of our revenues. However, some investors might decide not to invest in us simply because we have previously called on, or through our participation in pooling arrangements have previously received revenue from calls on, ports in these sanctioned countries. Any such investor reaction could adversely affect the market for our common shares." (December 2016)

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"Shipping giants AP Moller Maersk A/S (AMKBY), Frontline Ltd. (FRO) and Teekay Tankers Ltd. (TNK) have all said their ships will no longer call at Iranian ports, while some smaller shipowners have also said they are unwilling to send their vessels to the Islamic Republic to lift crude." (Wall Street Journal, "Major Shipping Companies Avoid Iran Amid Tightening Sanctions," 2/13/2012)