Teekay Tankers Ltd.

Teekay Tankers Ltd.

May 17, 2012 20:31 ET

Teekay Tankers Announces Availability of 2011 Annual Report

HAMILTON, BERMUDA--(Marketwire - May 17, 2012) - Teekay Tankers Ltd. (NYSE:TNK) (Teekay Tankers or the Company) announced today that the Company's 2011 Annual Report on Form 20-F has been filed with the U.S. Securities and Exchange Commission (SEC), effective April 13, 2012. Copies are available on Teekay Tankers' website at www.teekaytankers.com. Shareholders may request a printed copy of this annual report, including the complete audited financial statements, free of charge by contacting Teekay Tankers Investor Relations.

About Teekay Tankers Ltd.

Teekay Tankers currently owns a fleet of nine double-hull Aframax tankers, six double-hull Suezmax tankers, and charters in one additional Aframax tanker, all of which an affiliate of Teekay Corporation (NYSE:TK) manages through a mix of short- or medium-term, fixed-rate time-charter contracts and spot tanker market trading. The Company also owns a VLCC newbuilding, through a 50 percent joint venture which is scheduled to deliver in April 2013. In addition, Teekay Tankers recently agreed to acquire a fleet of 13 crude oil and product tankers from Teekay Corporation, which is expected to be completed in June 2012. Teekay Tankers Ltd. was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business. Since inception, Teekay Tankers has distributed on a quarterly basis all of its Cash Available for Distribution, less scheduled principal payments related to the Company's debt facilities and reserves for estimated dry docking costs and other reserves established by its Board of Directors.

Teekay Tankers' common stock trades on the New York Stock Exchange under the symbol "TNK".

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