Teekay Tankers (NYSE:TNK)
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Teekay Tanker owns and operates a fleet of oil tankers that it charters using fixed-rate contracts and offers on the spot market.
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Teekay Tanker owns and operates a fleet of oil tankers that it charters using fixed-rate contracts and offers on the spot market.
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TNK underperform due to the over supplyl of tankers. The oversupply of tankers caused by overexpansion of fleet size causes a 14 % vacancy factor, which leads to a collapse in stock prrices.
The huge 20% yield is a result of very inefficient business practices.